VOV.VN - Recent surges in housing and land prices in Hanoi, Ho Chi Minh City, and surrounding areas have affected public access to home ownership. In response, the Government has tasked the Ministry of Finance with studying property taxation as a tool to help stabilise the market.

Vietnam's real estate price growth over the past five years has reached 59%, significantly higher than other countries such as the US (54%), Australia (49%), Japan (41%), and Singapore (37%), according to data from the Global Property Guide.

Vietnam's real estate prices have increased rapidly in the past two years despite the difficulties caused by the COVID-19 pandemic, which reduced the incomes of the majority of the population, experts have said.

Real estate prices in 2021 are expected to increase by 10% over the previous year, said Nguyen Van Dinh, deputy general secretary of the Vietnam Real Estate Association (VNREA).