Real estate exchanges probed to 'restore order'

TN News

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The Ministry of Construction on Monday launched an inspection into real estate exchanges in Hanoi and Ho Chi Minh City in an attempt to tighten control over the property market.

Some exchanges in the cities will be specifically targeted by the inspection, mainly those operated by large companies, according to the Vietnam Economic Times.

Construction ministry inspectors said the inspection will help local authorities revise their management policies for the real estate market and put trading activities into order.

There are around 400 real estate exchanges in Vietnam, mainly in large cities like HCMC and Hanoi. Most of the exchanges offer brokerage services while also offer property evaluation services.

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