Director of Savills Hanoi: Digitalizing information to prevent land fever

The digitalization of land data helps to control and ensure the transparency of information, which can limit the land fevers occurring as in the past.

The digitization of land information data will limit land fevers. Illustrative photo: Tuan Nguyen Mr. Mathew Powell, Director of Savills Hanoi, shared that digitizing information will bring benefits in controlling land information, in order to ensure the transparency of information. This is one of the solutions that have been given after land fevers continuously occurred over time, when land prices were pushed up because of lack of accurate information. In addition, according to him, one of the solutions can be mentioned is the establishment of national data on land prices – where all land information is stored on a digital platform. Everything is controlled by the land registry, but the national digitization of land transactions creates a more transparent outlook. “Prices are being pushed up based on misinformation or misunderstandings. This has led to confusion in prices and some people will make wrong investment decisions based on misinformation. Therefore, the emergence of a data source where information is widely and accurately disclosed will allow the real estate market to operate stably and minimize price leaps, “he said. this said. Matthew Powell, for example, in the UK already has a national land information management background. Every piece of land and every transaction that takes place on that land is kept for centuries. Such information is accessed and used by all real estate market operators and the government is also used as an effective legal tool. “It is important to improve the storage and transmission of information, minimizing features that have become obsolete in real estate such as over reliance on papers. As papers are digitized. information is not only transmitted more effectively, but also brings higher confidentiality, “said Savills Hanoi Director. In response to the explosive demand for digital transformation, data centers have been rapidly expanding globally. According to Savills, by 2026, the size of the global data market is expected to reach US $ 251 billion with an average annual growth rate of 4.5 %./.