Housing supply in Ho Chi Minh City decreased sharply, many projects were inspected

The People’s Committee of Ho Chi Minh City has just reported to the Ministry of Construction on housing and real estate market data in the area in the first quarter of 2022.

According to the People’s Committee of Ho Chi Minh City, in the first quarter of 2022, the real estate market in the city did not fluctuate on a large scale. The market is skewing towards the high-end real estate segment, so an adjustment is needed.

Housing supply in new projects is limited because Ho Chi Minh City currently has many projects in the process of inspection, audit, reviewing legal procedures, even being investigated.

This leads to the slow coordination of relevant departments and agencies to give opinions or resolve legal proceedings project. Especially enterprises related to State capital or derived projects public land.

The reason for the real estate market to have not fluctuated on a large scale, the People’s Committee of Ho Chi Minh City said that the Covid-19 epidemic was still complicated and the economic situation was still difficult due to some individuals and businesses playing sports. needy financial market in the past time.

In the first quarter of 2022, the HCM City Department of Construction has confirmed the eligibility to raise capital and sell housing formed in the future for 5 projects, with a total of 1,172 houses. This supply decreased by 84.66% compared to the fourth quarter of 2021 and 66.01% compared to the first quarter of 2022.

Currently, there are 118 projects in Ho Chi Minh City business Home under construction, with a scale of 53,239 units. In the first quarter of 2022, there were 2 completed projects with a scale of 3,988 apartments. There are 3 licensed projects with a scale of 2,480 apartments.

The city’s housing market continues to be “absent” cheap house when there is no project social housing and project housing for workers which is licensed.

In the first quarter of 2022, there are 5 social housing projects underway, the supply is expected to be 3,367 units. There is 1 project completed construction but the scale is only 260 apartments.

In order to recover the demand for housing transactions in the near future, the People’s Committee of Ho Chi Minh City recommends accelerating reforms administrative procedures in the direction of interconnection, cutting procedures, shortening the time to process dossiers and implementing costs in construction investment activities of real estate projects.

In addition, it is necessary to consider and adjust macro policies to promptly support real estate investment and service businesses facing difficulties due to the pandemic. Covid-19. Specifically, adding the real estate industry to the group of subjects eligible for postponement or extension of tax payment deadlines; reduce corporate income tax; delay submission land use fees commercial housing projects according to the roadmap…

Mr. Phuong