The steel industry is expected to see an explosive recovery in 2024, but profits won’t be delivered to all. While big players earned trillions of dong in the third quarter in 2023, most small players reported losses.

Many real estate firms have issued corporate bonds to mobilize trillions of dong worth of capital to pay bond debts. Some of them want to finalize all debts, while others need more time for restructuring.

Vietnam’s government aims to boost its real estate sector by easing bank credit and tackling legal, land, and administrative hurdles to foster market growth.

As money is pumped into the real estate market and realtors receive bank loans, cash flow will circulate well and the national economy will improve.

Many different information sources about the real estate market are released not only by professional research units but also from consultancy firms, real estate trading floors, and brokers.

The real estate sector has witnessed a surge in corporate bond issuances worth a total of 30 trillion VND (1.22 billion USD) in the third quarter of 2023, a move aimed at debt restructuring rather than capital raising.

The Police Department for Administrative Management of Social Order (C06) under the Ministry of Public Security planned to identify house numbers for transparent real estate market.

The office market in Ho Chi Minh has become vibrant recently with the operation of two office buildings in Thu Thiem new urban area which provides an additional 85,000 sq.m of floor space.

After eight years, apartment prices in HCM City and Hanoi have increased by 82 and 56 percent, respectively. But incomes of urban residents has risen by only 39 percent.

The leader of the State Bank of Vietnam (SBV) said that the non-performing loan ratio in the real estate sector is on the rise compared to the end of the previous year, with figures of 1.8 percent in July 2022 and 2.58 percent in July 2023.

Deputy Prime Minister Le Minh Khai has recently signed a Prime Minister decision regarding the reduction of land rental fees for 2023.

Real estate attracted 1.94 billion USD in foreign direct investment (FDI) in the first nine months of this year, accounting for about 9.6% of total FDI to Vietnam in the period.

Hanoi and HCM City continue to attract investors thanks to the competitive rental costs for offices and high-end retail spaces, accompanied by a high occupancy rate in the region, according to Savills Vietnam.

An appropriate deposit level for property auctions is critical to prevent price inflation and speculation, experts have said.

A group of bondholders led by Ad Hoc Group has asked Novaland to negotiate debt restructuring in good faith related to the unpaid interest of $7.8 million from the lot of bonds worth $300 million issued by Novaland in the international market.

Despite the Government’s efforts to address them, the challenges for the property market will continue until the end of next year, experts have warned.

Many real estate corporations such as GP.Invest, Hai Phat, Son Kim, Geleximco and TNR Holding are named in the 2023 specialized inspection list of the General Department of Taxation.

Tourism real estate is still attempting to get on the front foot amid reduced selling prices and slow liquidity.

Real estate firms SonKim, Hai Phat Invest, Van Phuc, and Bitexco, are among 42 companies listed for specialised audits this year, according to the GDT.

A number of businesses have reported losses or profit decreases of up to trillions of dong after biannual reviews, though they had reported large profits before. But this was not a surprise, especially for real estate firms.