Vietnam’s National Assembly is considering stronger rules for property auctions to reduce collusion, fake bidding and other practices that can distort prices. National Assembly President Tran Thanh Man called for tighter safeguards on October 19 as lawmakers reviewed proposed changes to the Law on Property Auction during the legislature’s ongoing session in Hanoi.
The proposed changes are intended to make auctions more transparent and reduce opportunities for people to manipulate results. Auctions can be used to sell land-use rights and other assets, but unfair practices may prevent genuine buyers from competing on equal terms. When bids are distorted, the final price may not reflect a fair market value, and public confidence in the process can suffer.
One proposal would increase the required deposit for individuals bidding on residential land-use rights to between 20 and 50 percent of the starting price. The draft also considers applying stronger deposit requirements to other types of assets that are vulnerable to manipulation. Supporters say higher deposits could discourage people who join auctions without a genuine intention to buy.
Lawmakers also discussed restrictions on collusion and the withdrawal of winning bids. A person who wins an auction but then gives up the deposit may create delays and disrupt the process. The proposed rules could bar certain successful bidders from future auctions for periods ranging from six months to five years, with their names recorded on a national auction portal.
Digital auctions are another part of the proposed reform. Man urged officials to expand online bidding for most types of assets, except those specifically excluded under the rules. A central online portal could make it easier to publish information, track bids and improve public access. However, such a system would need strong security and reliable digital identification to prevent fraud.
The draft also seeks to prevent interference with auction systems and protect personal data. Online platforms can make procedures faster, but they can create new risks if accounts are compromised or technology is manipulated. Clear standards and accountability will be important if digital auctions become more widely used.
The changes remain proposals under review and should not be treated as rules that are already in force. Lawmakers will need to assess how the measures affect genuine bidders, public agencies and the wider property market. If adopted and enforced effectively, the reforms could help reduce unfair practices and strengthen trust in asset auctions.
