Since April 2024, the local property market has flourished again. Numerous auctions of land use rights have been held and attracted the participation of  large numbers of people and investors.

The sums collected from land use rights auctions were much higher than the asking prices and made great contributions to the provincial budget.

Dinh Nam Thang, Director of the provincial Department of Tax, said that in the first half of 2024, budget collection from land use rights hit 1.42 trillion VND, equivalent to 49.7% of the estimate set by the Prime Minister and 38.3% of the estimate assigned by the provincial People's Council. The figure is equivalent to over 700% of the figure in the same period last year.

The outcomes were attributed to the recovery of the real estate market in cities and districts of the province.

Moreover, the National Assembly's approval of the Land Law, the Law on Housing and the Law on Real Estate Business has resolved legal difficulties andbottlenecks for the property markets in the whole country in general and Ninh Binh in particular, Thang added.

In addition, in an attempt to stimulate and remove difficulties for the real estate market, the Ninh Binh provincial People's Committee assigned the Department of Construction, the Department of Planning and Investment, the Department of Natural Resources and Environment and the People's Committees of districts and cities to actively take measures to  remove hindrances and spur the safe, healthy and sustainable growth of the market.