Real Estate Market Shows Positive Signs in the First Two Months of 2024
In the first two months of 2024, real estate business activities have recorded many positive signals. In some areas, notary public services have started to resume. Real estate agents have stepped up their sales campaigns. Transactions have spread to many places, including the neighboring provinces of Ho Chi Minh City.
According to the General Statistics Office, the Ministry of Planning and Investment, the real estate business activities in the first two months of 2024 have shown positive signals in attracting investment capital and the number of real estate enterprises returning to the market.
Specifically, this month the country has nearly 8,600 newly established businesses with registered capital of 67.3 trillion VND and nearly 50,900 registered workers.
In the first two months of 2024, the country has more than 22,100 newly established businesses with a total registered capital of 218.7 trillion VND and a total registered labor force of 154,300, up 12.4% in terms of number of businesses, up 32.8% in terms of registered capital, and up 29% in terms of labor force compared to the same period last year.
Regarding the real estate business situation, in the first two months of the year, the country has 552 newly established real estate businesses, equivalent to 100.4% compared to the same period in 2023. The number of businesses returning to business is 843, equivalent to 138.7% compared to the same period in 2023.
Photo: Ha Vy
In general, in the first two months of 2024, the country has 41,100 newly established and re-entered businesses, up 8.5% compared to the same period last year. In which, on average, more than 20,500 new and re-entered businesses are established each month.
In addition, foreign investment has poured 279.3 million USD into real estate in the first months of 2024. According to the General Statistics Office, with resolute direction, the capital investment from the state budget in February 2024 has been concentratedly deployed by ministries, sectors, and localities right after the Lunar New Year holiday. Expedite the progress of implementing public investment projects from the early months of the year, especially transitional projects.
The total foreign investment registered in Vietnam as of February 20 includes: Newly registered capital, adjusted registered capital, and value of capital contribution, purchase of shares of foreign investors reached nearly 4.29 billion USD, up 38.6% compared to the same period last year.
Newly licensed projects with registered capital reached 405 projects with registered capital of 3.6 billion USD, up 55.2% in the number of projects and up 103.8% in registered capital compared to the same period last year.
Among them, the processing and manufacturing industry was granted the largest new foreign direct investment; real estate business activities reached 1.37 billion USD, accounting for 38%; the remaining industries reached 139.3 million USD, accounting for 3.9%.
Out of 30 countries and territories with newly registered investment projects in Vietnam in the first two months of 2024, Singapore is the largest investor with 1.94 billion USD, accounting for 53.8% of the total newly registered capital; followed by Hong Kong Special Administrative Region (China); Japan; China; South Korea; Taiwan…
For foreign direct investment implemented in Vietnam in the first two months of 2024, it is estimated to reach 2.8 billion USD, up 9.8% compared to the same period last year. This is the highest foreign direct investment capital for the first two months in the last 5 years, and real estate business activities also reached 279.3 million USD, accounting for 10%.
