Pilot State-managed real estate exchange centers: Property ownership certificates to be issued within two working days by 2026

The Ministry of Construction is finalizing a pilot project proposal for the establishment of a State-managed Real Estate and Land Use Rights Exchange Center, expected to be operational by 2026. Once implemented, the model will allow citizens to obtain land ownership certificates (commonly known as “red books”) within just two working days.

Recently, the Ministry of Construction held a conference to gather feedback on the establishment of the State-managed Real Estate and Land Use Rights Exchange Center. Speaking at the event, Deputy Minister Nguyễn Văn Sinh stated that the Ministry has been coordinating with relevant ministries and agencies to draft both the Project Proposal and the Government Resolution for piloting the new model.

According to the Deputy Minister, the creation of these centers aims to modernize real estate transaction methods, streamline administrative procedures, and reduce processing time and costs for both citizens and businesses. At the same time, the model will leverage information technology and digital transformation to promote transparency and public disclosure within the real estate market.

Under the Ministry’s proposal, provincial-level Exchange Centers will operate based on a “one-stop digital service mechanism”, extensively applying Industry 4.0 technologies. Once a purchase agreement is reached, the parties can simply access the center’s online portal, fill in the required information, and submit their ownership transfer applications electronically. The competent authorities will then process and approve the documents entirely through a digital workflow.

Remarkably, within two working days of approval, the buyer will receive a notification message and can schedule a visit to the center to collect the official ownership certificate. This marks a significant administrative reform, potentially shortening procedures that traditionally took weeks or even months to complete.

Previously, under Official Telegram No. 03, the Prime Minister assigned the Ministry of Construction to take the lead, in collaboration with the Ministry of Natural Resources and Environment (now the Ministry of Agriculture and Environment) and other relevant agencies, to study and propose the model for a State-managed Real Estate and Land Use Rights Exchange Center. The directive emphasized promoting electronic transactions and data interoperability among state agencies to enhance management efficiency, as well as increase market transparency and accountability.

The Center is expected to serve as a central hub connecting citizens, enterprises, and government authorities in all property-related transactions. Processes such as legal verification, ownership authentication, tax declaration, land transfer, and registration will be handled entirely online, significantly reducing time and transaction costs for the public.

According to the plan, after completing the consultation phase, the Ministry of Construction will submit the proposal to the Government for consideration in Q4 2025, paving the way for pilot implementation in early 2026. Experts view this as a milestone in the digitalization of Vietnam’s real estate market, laying the groundwork for a national database of property transactions and land use rights, while minimizing risks and curbing speculative “price bubbles.”

If effectively executed, the State-managed Real Estate Exchange Center will represent a breakthrough in administrative reform, fostering a transparent, secure, and sustainable real estate market where citizens can conduct transactions swiftly, confidently, and under a unified data governance system.

According to CafeF

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