Ho Chi Minh City builds a digital real estate database: Towards a transparent market

To date, the Ho Chi Minh City Department of Construction has created and issued more than 600 accounts to management agencies, project developers, and real estate service businesses to participate in updating data on the system. However, this number is still relatively small compared to the total number of enterprises operating in the real estate sector in the city.

In the coming time, the authorities will continue to review the list of project developers, expand account issuance, and guide businesses to submit online data reports instead of paper-based reporting as before.

A notable new feature is the issuance of identification codes for each real estate product. According to the Department of Construction, the identification code will be issued at the same time as the authority’s notice confirming that housing formed in the future is eligible for sale, or when the appraisal results of the project’s feasibility study report are issued.

Information related to these identification codes will be published on the housing and real estate market data system, allowing organizations and individuals to access and search as needed. The Ministry of Construction will grant data access rights to relevant entities in accordance with regulations.

In parallel, a land parcel identification code system is also being developed. The agriculture and environment sector stated that the establishment of land parcel identification codes has been basically completed and is currently in the phase of data sharing with relevant agencies.

Experts believe that the formation of a unified real estate database will enhance market transparency, support regulators in monitoring supply and demand, and help investors and homebuyers access clearer information.

A representative of a real estate company in Ho Chi Minh City noted that once the data system is fully completed and project information is made publicly available on a unified platform, the market will reduce inconsistencies and inaccurate information. However, businesses also expect authorities to continue improving technical infrastructure and provide clearer guidance on data update procedures to make system participation more convenient.

According to the Ho Chi Minh City Department of Construction, building the real estate data system is an important step toward establishing a database that is “accurate – sufficient – clean – live – unified – shared,” contributing to improved management efficiency and sustainable market development.

Gia Linh