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land auction
land auction
Ministries propose raising land-auction deposit up to 50%
The Government’s draft Resolution proposes increasing the deposit for land-use right auctions to a maximum of 50 percent.
Higher auction deposits viewed as remedy for speculative bidding
Raising the maximum auction deposit to 50 percent would help verify the financial capacity of investors while also curbing speculative price manipulation and withdrawal after winning a bid, experts say. The proposal, however, has raised concerns.
Many odd developments occurred at land auctions in 2024
In 2023, land auctions encountered difficulties and many localities had to stop auctions because of the lack of participants, while in 2024, many auctions were organized where unexpected events occurred.
