Predictions about real estate firms remain worrisome. Twenty-three businesses will not be able to maintain operation until the end of the third quarter and only 43 percent will exist by the end of the year unless conditions approve.

As the real estate market is stagnant, building materials are abundant, but shortages exist for road-bed composition and foundation for transport infrastructure projects.

The demand for social housing will be eased as many projects are about to be launched on the market. The average housing price in HCM City is 32 times higher than the average income of Vietnamese.

This capital, according to HoREA, should be used to assist enterprises that are experiencing hardships but have the potential to be rehabilitated.

Local experts are hopeful for a potential but gradual rebound of the real estate market in HCMC.

The sluggish real estate market has left adverse impact on property brokers and developers nationwide, with operational real estate brokerages accounting for 30-40% of the total in late 2022.

In April, real estate lost the second position in the ranking of business fields most attractive to foreign investors. In May, as many as 554 real estate firms were dissolved.

The State Bank of Vietnam (SBV) is set to further reduce regulatory interest rates on May 25, the third cut in a row since mid-March, expected to give a boost to the stagnant real estate market.

Prices range from hundreds of millions of dong to half a billion dong per square meter, but penthouses still are selling well as more ultra-wealthy people accept sky-high prices.

Decree 10 is considered a good sign for project developers and buyers of condotels, with some experts predicting that the move will remove long-standing problems in the issue of ownership certificates for condotels.

Many property developers are planning asset and stock sales as they look to slash debts, restructure business and stay afloat, which is expected to lead to a surge in M&A deals in the market.

In an effort to address the ongoing challenges faced by the domestic real estate market, an approach encompassing legal, administrative, and financial solutions is urgently required, particularly in the realm of credit.

The real estate market is still in a downturn, facing difficulties with legal and capital bottlenecks, low liquidity, high inflation, high interest rates, and high prices.

Experts have noted their hope that coastal resorts will play a role in accelerating the recovery and development of the domestic resort real estate market which is facing an array of challenges.

Construction works used for tourism accommodations built on commercial and service land, such as condotels and resort villas, will be granted ownership certificates if they meet requirements.

Experts believe the real estate market will improve in the third quarter once the government’s action to remove legal obstacles and credit policies begins to show results.

The real estate sector ranks second in foreign direct investment (FDI) attraction in the first quarter of 2023 with 766 million USD, accounting for 14.1% of total FDI.

Skypark is the first-ever branded residences for apartment projects developed by Banyan Tree Group worldwide.

Representatives from around 180 Japanese businesses and investors on April 1 attended a Tokyo workshop on Vietnamese real estate, during which many of them highly appreciated the potential of Vietnam’s property market.

The Vietnamese Government has recently urged ministries to take measures to help the realty sector get back on track and sustain its healthy growth.