CIRCULAR

ON AMENDMENTS TO THE CIRCULAR NO. 20/2010/TT-BXD DATED OCTOBER 27, 2010 OF THE MINISTRY OF CONSTRUCTION ON PILOT CREATION AND PUBLISHING OF REAL ESTATE MARKET INDICES

Pursuant to Decree No. 26/2013/ND-CP dated June 25, 2013 of the Government on defining functions, tasks, entitlements, and organizational structure of the Ministry of Construction  ;

Pursuant to Decree No. 153/2007/ND-CP dated October 15, 2007 of the Government on providing guidance on the Law on real estate trading;

At the request of  Director of Institute of Construction Economics and Director of Department of Housing and real estate market management;

The Minister of Construction issue the Circular on amendments to the Circular No. 27/10/2010/TT-BXD dated October 27, 2010 of the Ministry of Construction on pilot creation and publishing of real estate market indices (hereinafter referred to as Circular No. 27/10/2010/TT-BXD).

Article 1. The articles and Appendices below of Circular No. 20/2010/TT-BXD shall be amended as follows:

1. Clause 2 of Article 1 shall be amended as follows:

“2. Relevant agencies, organizations and individuals shall refer to indices published as prescribed in this Circular for local real estate market management and real estate appraisal.”

2. Clause 1 of Article 3 shall be amended as follows:

“1. Apartments shall be classified as affordable apartments, mid-range apartments, and first class apartments. The Service of Construction shall classify the apartment buildings in accordance with condition of the province according to their locations, architectures, quality and prices.

3. Clause 1 of Article 5 shall be amended as follows:

“1. The original quarter is the first quarter of 2011. If it is not possible to collect figures of some types of real estate at the first quarter of 2011, the original quarter of following years may be chosen provided that it is not later than 2013."

4. Clause 3 shall be added to Article 8 as follows:

“3. The content of the publishing shall comply with forms in Appendix No. 4 of this Circular.”

5. Clause 2 of Article 9 shall be amended as follows:

“2. Time of publishing

a) Regarding indices to be quarterly published, the publishing shall be conducted before the 30^th of the first month of the quarter succeeding the quarter in which the indices must be published.

b) Regarding indices to be annually published, the publishing shall be conducted before January 30 of the next year.”

6. Article 10 shall be amended as follows:

“Every quarter and every year, the agency in charge of creation of indices in the pilot cities shall publish indices on the websites or web portals of the Services of Construction, the People’s Committee of cities and other mass media.”

7. Clause 3 shall be added to Article 11 as follows:

“3. Provide training courses in creation of indices on request."

8. Article 12 shall be amended as follows:

“Article 12. The pilot People’s Committee of cities shall:

1. Direct the implementation of this Circular.

2. Issue regulations on cooperation in creation and publishing of real estate market indices between relevant Services and agencies.

3. Assign Services of Construction to:

a) Take charge and cooperate with relevant construction agencies to create the database of real estate transacted price, real estate transacted quantity, create and publish the indices prescribed in this Circular. The initial publishing of indices shall be conducted from the third quarter of 2011. If some types of real estate are applied original quarter after the first quarter of 2011, the initial publishing of indices shall be conducted from next quarter of the original quarter.

b) Create plans and provide funding, then request the People’s Committee of the city to approve the plan for creation and publishing of real estate market indices.

c) Send a report periodically on publishing of indices to the People’s Committee of city and the Ministry of Construction for inspection.

4. Assign the following agencies to provide information, collect and store data relating to real estate transactions; and send reports to Services of Construction every 30^th of the third month of quarter. In particular:

a) The Service of Natural Resources and Environment provides information and data relating to land prices through investigation, survey and creation of Table of land prices (using form No. 1 of Appendix No. 2); number of Certificates of land use rights, Certificates of housing ownership in the quarter in which the report must be sent (using form No. 2 of Appendix No. 2);

b) Services of Justice Provide information and data about number of transactions, real estate transacted value in the quarter in which the report must be sent through notarized contracts collected from organization providing notarization services (using form No. 3, form No. 4, Form No. 5 of Appendix No. 2); and release statistics on real estate transacted price from notarized contracts (using form No. 6 of Appendix No. 2);

c) Tax Department of cities Provide information and data relating to number of transactions of every type of real estate; value of office lease transactions through tax declarations (using form No. 7, form No. 8 of Appendix No. 2); information about budget revenue from registration fee applied to houses, land of the district in the quarter in which the report must be sent (using form No. 9 of Appendix No. 2);

5. Provide funding to create and publish indices.”

9. The Appendices of Circular No. 20/2010/TT-BXD shall be replaced as follows:

a) Appendix No. 1 of Circular No. 20/2010/TT-BXD shall be replaced with Appendix No. 1 issued together with this Circular.

b) Appendix No. 2 of Circular No. 20/2010/TT-BXD shall be replaced with Appendix No. 2 issued together with this Circular.

c) Appendix No. 3 of Circular No. 20/2010/TT-BXD shall be replaced with Appendix No. 3 issued together with this Circular.

10. The Appendix No. 4 issued together with this Circular shall be supplemented.

Article 2. Implementation

1. This Circular shall take effect from February 1, 2015.

2. The difficulties that arise during the implementation must be reported to the Ministry of Construction for consideration./.