At a recent socio-economic press conference, a representative of the Ho Chi Minh City Department of Construction stated that the city is finalizing a housing and real estate market data system on a digital platform. Once the system goes into operation, transaction data from tax authorities, notary offices, and related agencies will be gradually updated, creating a source of reference information for real estate prices on the market.
The agency stated that when actual transaction data is updated regularly, citizens can look up the general price level in each area before deciding to buy or sell. The publication of information is expected to contribute to market transparency, limiting situations where brokers inflate prices, create fake price levels, or trigger land fevers arising from rumors.
In parallel with the process of building the database, the city will also implement the issuance of electronic identification codes for each real estate property. The issuance of codes will be carried out according to a roadmap, initially prioritizing new projects eligible to mobilize capital, commercial housing, and social housing projects that are completing legal procedures, and then expanding to other projects.
Real estate in the eastern area of Ho Chi Minh City, April 2026. Photo: Quynh Tran
Real estate in the eastern area of Ho Chi Minh City, April 2026. Photo: Quynh Tran
Regarding the implementation progress, the Department said that so far, the City has issued 1,174 accounts to departments, branches, commune-level People Committees, investors, enterprises, and real estate trading floors to update data onto the information system managed by the Ministry of Construction. The city data is being collected, finalized, and is expected to be synchronized in July.
When the system comes into operation, citizens can look up general information about housing and the real estate market on the electronic web portal. For in-depth data related to specific projects, organizations and individuals will carry out registration procedures for exploitation according to regulations.
Evaluating the construction of the real estate transaction database, many experts believe this is an important step to overcome the lack of information transparency, one of the reasons why real estate prices are easily pushed up during hot market periods.
Ms. Giang Do, Director of Advisory and Valuation at Savills Vietnam, said that land fevers often stem from buyers lacking reliable reference data sources, while the market relies mainly on asking prices or viral information. When actual transaction data from notary offices and tax authorities is updated and made public, citizens will have more basis to determine the value of real estate, thereby limiting price increases based on rumors or crowd psychology.
Sharing the same view, Mr. Nguyen Van Dinh, Chairman of the Vietnam Association of Realtors, commented that a centralized transaction database will help narrow the information gap between buyers, sellers, and brokers. When transactions are recorded fully and more publicly, the ability to create fake price levels or manipulate prices on the market will decrease significantly.
However, experts also noted that the effectiveness of the system depends heavily on the quality of input data and the interoperability among management agencies. The database will only truly be effective when it closely reflects actual transaction prices and is synchronously connected among the construction, land, tax, and notary sectors.
According to a report from the Ho Chi Minh City Department of Construction, the city currently has about 4.2 million land plots, of which nearly 3.8 million plots have had their information digitized in the land database. More than 2.3 million land plots have met the criteria of being correct, complete, clean, live, and unified, ready to serve data connection and exploitation. If fully updated and operated effectively, the real estate transaction database will not only help citizens reference prices before buying and selling but could also become the foundation for building a housing price index for Ho Chi Minh City, serving market administration and supervision.
Phuong Uyen
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