Ho Chi Minh City processed over 348,000 land registration and property ownership dossiers during the first five months of the year. Despite this high volume of administrative activity, only 15 first-time "pink books" (property ownership certificates) were actually issued. This figure represents a sharp decline compared to the same period last year. The disparity highlights a significant gap between the number of applications filed and the final issuance of titles. The situation underscores ongoing challenges in the city's land management and certification process. Authorities continue to handle a massive backlog of land-related documentation. This trend reflects a broader struggle in finalizing legal ownership for new properties.