Sustainable Real Estate Market Development Forum 2024
At the Forum, BIDV’s Chief Economist, Mr. Can Van Luc, shared that legal obstacles related to real estate, such as social housing, are being gradually addressed. Laws such as the Land Law and the Real Estate Business Law are being amended to create a more favorable legal corridor. Additionally, some regulations need to be improved to prevent delays in project approval and disbursement.
Moreover, land valuation based on market principles has helped resolve issues regarding land prices. This has facilitated the compensation, site clearance, and investment cost determination processes.
However, Mr. Luc also noted that the new market-based land price table could increase land use costs, leading to higher housing prices, including social housing. This situation requires enterprises and management agencies to balance costs and selling prices to ensure the feasibility of projects.
According to Mr. Le Xuan Nghia, a member of the National Financial-Monetary Policy Advisory Council, complicated administrative procedures and a lack of synchronization between localities are also significant barriers. The prolonged stagnation of projects has resulted in a waste of national resources and negatively impacted both citizens and businesses. Statistics show that Hanoi has nearly 1,500 stalled projects, while Ho Chi Minh City has approximately 2,600. This situation not only causes a housing shortage but also diminishes employment opportunities.
The most urgent need now is to develop a National Assembly resolution to address legal, management, and administrative procedure-related obstacles. A National Assembly resolution regarding social housing and real estate projects is necessary to comprehensively tackle the current challenges. Mr. Nghia emphasized, “This is not only the hope of real estate enterprises but also the solution to the housing equation for millions of people. If we don’t act promptly, the market will continue its vicious cycle, missing out on investment and development opportunities.”
Mr. Le Huu Nghia, General Director of Le Thanh Company, shared that enterprises engaging in social housing development are currently investing their capital and facing challenges during inspections and project approvals. It is necessary to create a financial support mechanism for both investors and homebuyers. Without special interest rate and loan packages, attracting enterprises to invest in the social housing segment will be challenging.
Synchronized coordination between the State, enterprises, and citizens is essential for the development of the social housing segment. Management agencies should continue to improve policies and create favorable conditions for enterprises to develop projects transparently and efficiently.
Mr. Nghia also emphasized that to ensure social housing reaches the right beneficiaries, a strict control mechanism must be established while allowing easier transfers. This approach enhances resource efficiency and minimizes speculation.
Social housing is expected to develop sustainably, meeting the housing needs of millions of people. This presents not only opportunities for enterprises but also a solution to social welfare issues, positively contributing to the country’s economic development.
The Ultimate Guide to CNT’s Condo Project Transfer in Quy Nhon City to Its Subsidiary
The Board of Directors of CNT Joint Stock Group (UPCoM: CNT) has approved a plan to transfer the commercial apartment project along Huynh Tan Phat Street, Dong Da Ward, Quy Nhon City, Binh Dinh Province to its subsidiary, Blue Bay Quy Nhon Limited Company (wholly owned by CNT).
The Ministry of Construction Identifies Nine Real Estate Projects with Violations in Phu Tho
The Ministry of Construction’s inspection team uncovered numerous violations in nine major real estate projects in Phu Tho. These included the Vuon Vua Eco-Urban Area, La Phu Eco-Urban Area, the new Tay Nam Viet Tri Urban Area, and the Nam Dong Lac Ngan Urban Area, among others.
Danang’s Real Estate Market Soars with the Free Trade Zone
The Danang real estate market, particularly the Lien Chieu district, is experiencing a surge in development, fueled by a series of breakthrough growth catalysts. These catalysts include the next-generation free trade zone (FTZ), the Lien Chieu port, and a cluster of high-tech industrial parks. This perfect storm of economic drivers is transforming the area into a thriving hub of activity, attracting investors and businesses alike.
Proposed State Support for Voluntary Insurance Contributions of up to 50%
The Ministry of Labour, Invalids and Social Affairs has proposed two schemes for state support for voluntary social insurance contributions, with the highest support level reaching 50%.
The Golden Opportunity: Unveiling Thanh Hoa’s Billion-Dollar Real Estate Venture
After 2 years of bustling construction, the綜合服務中心 Project in Dong Huong Ward, Thanh Hoa City, suddenly came to a halt and has remained stagnant for years.
