(Chinhphu.vn) - Currently, with the drastic direction of the Prime Minister, relevant ministries and agencies are urgently and actively completing the contents of the Decree and amended regulations related to the law. real estate business. According to experts, with such a method and spirit, it is hoped that in the future, problems related to regulations on real estate implementation will be resolved soon. This is the basis and favorable conditions to expect the real estate market in 2023 and in the coming time to be more stable and developed.
According to experts, the real estate market in Vietnam has never been as difficult as it is today. Specifically, according to the data of the Ministry of Construction, the whole country has only about 20,000 products from new projects put on the market in the first 6 months of 2022. And according to a recent report of the Vietnam Real Estate Brokers Association ( VARS), the total supply of residential real estate in the first nine months of 2022 reached over 41,000 products, equivalent to 77.9% compared to 2021. The average absorption rate was only 43%. Particularly in the third quarter of 2022, the absorption rate decreased sharply compared to the first and second quarters of 2022, reaching only 33.5%.
Mr. Vo Tri Thanh, an economist, said that in order for the real estate market to soon stabilize and grow in the near future, the planning issue needs to be concretized, and at the same time, deal with important factors of problems as soon as possible. project legality, cash flow, corporate restructuring.
'We all know the first story is planning. All countries need proper planning. Second is the legal story. In Vietnam, we have a lot of laws directly related to this issue: Law on Land, Law on Construction, Law on Housing, Law on Real Estate Business. Third, the development of financial markets. The nature of short-term lending banks is the most basic, but for real estate it is medium and long-term lending. So developing this market, diversifying this market is a big story. Besides the development of capital and credit markets, different financial institutions such as different types of real estate development funds are also needed'.
In addition to the above solutions, Mr. Thanh said that in the first quarter of 2023, the country's real estate market will get out of recession, but still remain quiet, due to coincide with the Lunar New Year 2023. , the supply is still limited because the process of preparing and implementing legal procedures requires more time. Entering the third and fourth quarters of 2023, the market gradually recovered, developed healthier, more transparent and standard thanks to the progress in capital, in legal terms, the project will be gradually removed.
Currently, with the drastic direction of the Prime Minister, relevant ministries and agencies are urgently and actively completing the contents of the Decree and revised regulations related to the law on real estate business. According to experts, with such a method and spirit, it is hoped that in the future, problems related to regulations on real estate implementation will be resolved soon. This is the basis and favorable conditions to expect the real estate market in 2023 and in the coming time to be more stable and developed.
