A recent report from the Ministry of Construction shows that, in the period from 2015 to the end of 2023, the Government has directed ministries, branches and localities to proactively and regularly monitor developments in the real estate market. , promptly handle "hot" issues that arise.
However, the supply of housing products is mainly high-end and mid-end segments, there is a lack of housing real estate products at prices suitable for the majority of people's ability to pay; Real estate transaction prices tend to increase gradually over the years, higher than the average income of the majority of people.
Research data from the Vietnam Association of Real Estate Brokers (VARS) shows that in the second quarter of 2024, primary housing supply reached about 27,335 products, with about 19,747 new products for sale. Also in the second quarter, the whole market recorded more than 14,400 successful transactions.
According to VARS analysis, transaction volume increased sharply due to improved supply and demand quality. Accordingly, the main supply is apartment projects.
Demand, including both investment demand and real housing demand, is being strengthened as market confidence has recovered significantly, interest rates are remaining stable at low levels, and investors are aggressively implementing projects. Attractive promotions,...
Deputy Minister of Natural Resources and Environment Nguyen Thi Phuong Hoa said that amending the Land Law, Housing Law, and Real Estate Business Law to be consistent with related laws will help create a clear enough legal corridor. Transparency and legal clearance of projects in the market.
Thanks to that, real estate supply will be abundant, real estate prices will be stable, ending the phenomenon of bubbles and price fever.
However, Ms. Hoa also stated clearly that the promulgation of policies and laws related to the real estate market is still inconsistent and inconsistent in terms of scope and content.
Regarding this issue, Mr. Nguyen Van Dinh - Vice Chairman of Vietnam Real Estate Association, Chairman of VARS said that recently, the real estate market is witnessing tight supply, while demand is large. much more. This has caused real estate prices to increase sharply and there is a shortage of affordable apartments.
This person analyzed that to control the real estate bubble is to remove legal barriers so that the market has more supply. If the market has abundant supply, supply and demand will self-regulate.
“When there is a lot of supply, investors sell at high prices and no one buys. They must adjust it appropriately to meet demand, and real estate prices will then be balanced. Therefore, state management agencies need to support expanding real estate supply to the market so that real estate bubbles and inflation do not occur" - Mr. Dinh added.
