Several new real estate projects kick off the new year
Recently, the Da Nang Department of Construction announced that a commercial apartment building project, eligible for sale under regulations, will be established in the near future at a qualified condominium project (phase 16).
Many projects are launched at the beginning of 2024.
The Da Nang Department of Construction also announced that there are 300 apartments in the hotel and apartment complex project on Nhu Nguyet Street, Thuan Phuoc Ward, Hai Chau District, eligible for the formation of future commercial housing. PAVNC Joint Stock Company is the project’s investor.
The Department of Construction of Nghe An Province announced 4 apartments (phase 1) and 2 apartments (phase 2) at the high-rise condominium CCU2 in the New Yen Hoa residential area, Quan Bau Ward, Vinh City, eligible for the formation of future residential housing.
The Department of Construction of Quang Ninh Province has issued a notice on the eligibility for sale, lease, and purchase of 44 future residential houses in a luxury villa project in Bai Chay Ward, Ha Long City.
The department has also just announced 334 social housing apartments in the social housing residential area project in Ngan Hang Hill, Hong Hai Ward, and Cao Thang Ward, Ha Long City, eligible for the formation of future social housing.
The investor of the low-income social housing project in Hien Nam Ward, Hung Yen City, Hung Yen Province, has sent a notice to the Department of Construction of Hung Yen Province about the sale of 1 social housing unit in the project.
According to a report by the Ministry of Construction, in 2024, 63/63 localities have registered to complete a total of 108 projects, with a scale of over 47,500 units for this year.
The top three localities in the country in terms of the goal of completing social housing are Bac Ninh, Binh Duong, and Hai Phong. Bac Ninh has the highest number of social housing projects registered for completion, with 5 projects and a scale of 6,000 units. Binh Duong ranks second with 20 projects and a scale of 4,500 units. Hai Phong ranks third with nearly 4,000 units from 8 projects.
Market recovery thanks to policy stimulus?
This year, there are still many difficulties and challenges, especially in the high-end and imbalanced segment of the real estate market.
Deputy Minister of Construction Nguyen Van Sinh said that in the coming time, synchronized solutions will be implemented to restructure the market and balance the supply and demand for social housing for industrial zones, low-income, and middle-income segments.
The Ministry of Construction and related units will review legal documents related to the real estate sector. Guidelines for the Law on Housing, Real Estate Business, Land, Credit Institutions will be developed and issued soon to ensure uniformity and feasibility.
The working group will continue to remove difficulties and obstacles. In addition, localities need to focus on 5-year housing development plans. At the same time, resolutely promote social housing and workers’ housing according to the set targets in the Project.
The Ministry of Construction will urge, guide localities, and businesses to remove difficulties, effectively implement the Project… Procedures for implementing social housing projects will be accelerated.
The VND 120 trillion credit package will be jointly implemented by the Ministry of Construction, State Bank, and Social Policy Bank.
Mr. Vo Hong Thang – R&D Director of DKRA Group – said that in the period of 2024 – 2025, when the market enters a new cycle, affordable housing will be the first segment to recover. Therefore, focusing on housing, especially social housing projects, affordable housing, mid-end, and mass apartment segments is promising, suitable for market demand, as well as the national housing development strategy in the period of 2021 – 2030.
Sharing the same view, Mr. Nguyen Van Dinh – Chairman of the Vietnam Real Estate Brokers Association – commented that the development of affordable housing will open up opportunities to address the imbalance of supply and demand, reducing the price level of the whole housing market.
