The real estate market has many opportunities
At the second annual Spring Real Estate Forum in Hanoi organized by Vietnam Real Estate Electronic Magazine, Prof. Dr. Hoang Van Cuong, Member of the National Assembly, Member of the Finance and Budget Committee of the National Assembly, Vice Rector of National Economics University, said that the crisis from the Covid-19 epidemic has brought disadvantages to the real estate market. property, but also for us to realize that real estate must develop healthily and sustainably. With large-scale projects, of reputable enterprises, there are more opportunities.
“The real estate market in 2022 has many opportunities, but not everyone can grasp it, it depends only on professional businesses and professional investors”, GS.TS. Hoang Van Cuong acknowledged.
Meanwhile, Mr. Nguyen Do Dung – General Director of enCity pointed out, the domestic real estate market has 4 great opportunities.
Firstly, industrial real estate is still hot in the market. This is a long-term trend due to the shift from China and Vietnam’s growing infrastructure, abundant labor force.
Second, public investment in transport infrastructure such as Ring 4 will have a great impact on the real estate market.
Third, the law opens opportunities for urban reconstruction with 2,000 old apartments that need to be renovated in Hanoi and Ho Chi Minh City, equivalent to 500 hectares of land. Thus, we have land banks right in the heart of the big city.
“Ultimately, the pandemic creates a need for green living. 61% of people want to live near green space and have a garden, 45% want to move to suburbs and less crowded areas. This is also a great opportunity for real estate businesses to follow this trend,” Dung shared.
Institutional opening, market promotion
Economic expert, Dr. Can Van Luc, a member of the National Monetary and Financial Policy Advisory Council, assessed that one of the important driving forces is that the economy recovers well if Vietnam performs well: the epidemic prevention program and the program. the process of socio-economic recovery and development from 2022 to 2023; Planning is concerned; infrastructure investment is considered as one of three strategic breakthroughs; public investment is promoted; implementing the Housing Development Strategy 2021 – 2023 (issued in December 2021).
In addition, fiscal policies such as tax exemption and reduction, land rent, fees and charges; extending the time limit for paying tax and land rent; increase spending on development investment; interest rate support for businesses, cooperatives, business households, etc. also facilitates and promotes the vibrant real estate market again.
Meanwhile, many experts believe that the real estate market needs to be cleared more of obstacles in terms of policies and administrative procedures.
Dr. Vu Tien Loc, Member of the National Assembly, Chairman of the Vietnam International Arbitration Center (VIAC), said that the legal system on land and real estate is currently the biggest bottleneck of the Vietnamese economy. when exploiting land resources and promoting urbanization is the most important resource and driving force of industrialization.
“Recently, we have revised 8 laws related to construction investment… but in reality, it is just “salt out of the sea” that has not solved much for the bottlenecks related to the real estate market today.
The recovery and development of the real estate market is one of the important indicators of the overall recovery of the economy. We are in a period of many disadvantages.
In order to solve the problem, it is not only necessary to open the market but also to open the institution, break down all barriers to promote entrepreneurship and promote the business process. This is the most important requirement right in the current context,” Mr. Loc said.
According to Assoc.Prof.Dr. Nguyen Quang Tuyen, Vice Chairman of the Council of Hanoi Law University, needs to create a legal corridor on digital transformation to ensure the confidentiality of customers’ information, and implement synchronously and comprehensively.
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