Speaking at the forum, Mr. Hoang Hai, Director of the Department of Housing and Real Estate Market, Ministry of Construction said: In the first quarter of 2024, 19 projects were newly licensed nationwide, but there were no projects in the South region. In the quarter, the inventory of unsold apartments was 3,706 units, unsold individual houses were 8,468 units, and the unsold land plots were 10,855 plots. The proportion of inventory is mainly in the segment of detached houses and land plots of the projects.
According to Mr. Hai, 2024 is still considered a difficult year for the Vietnamese real estate industry, however, the early entry into force of some laws will basically solve and remove legal obstacles for the projects. At the same time, there are many supporting policies, incentives, along with clearer and more transparent regulations on legal provisions compared to before.
Mr. Hoang Hai – Director of the Department of Housing and Real Estate Market, Ministry of Construction (Photo: Duy Phuong)
Dr. Dinh The Hien, an economic expert, said: In 2024, there are still many obstacles to investment cash flow, such as bonds that need to be handled up to 382,000 billion VND. Regarding real estate businesses, Mr. Hien assessed that 2024 would be the worst year in the past 5 years, with businesses facing great difficulties in cash flow.
Economic expert Dinh The Hien (Photo: Duy Phuong)
According to Mr. Hien, real estate businesses with poor business results find it difficult to access bank capital, and the State still controls the source of bank capital flowing into the real estate market. Besides, individual investors do not yet have faith in the market recovery.
“Swing traders are not too concerned about the long-term sustainability and prospects of the business. Real estate is not an effective industry in 2024, so they limit their participation in this stock. Real estate stocks are falling in price, and the number of people placing their trust in them is still very limited,” said Dr. Dinh The Hien.
