HÀ NỘI —The domestic real estate market is forecast to recover in the second half of the year thanks to policies issued so far in 2023.The Government has made many decisions to help solve difficulties of the real estate market to solve obstacles related to capital and legal procedures for property projects.According to Lực, in the second half of 2023, it is still necessary to speed up the review and have solutions to continue removing problems of real estate projects; and accelerate the disbursement of public investment, the implementation of rehabilitation programmes, and the development of social housing and housing for workers. Authorities also need to focus on regulating supply and demand in the real estate market.Besides bank credit, there are many channels to mobilise capital, such as bonds, stocks, investment funds, real estate investment trusts (REITs), and finance leases, Lực said.Assessing the market, Nguyễn Vũ, director of the New Home Real Estate Centre, said that the market will have better performance in the fourth quarter of 2023 or in the second quarter of 2024 if the Government's policies on supporting the real estate market have real impacts on the stakeholders in the market.The market is still struggling with limited transaction volume and is waiting for better performance in the second half of 2024 thanks to policies and credit packages for developing social housing and housing for workers.Phạm Anh Khôi from the market research team of the Việt Nam Real Estate Brokers Association (VARS), said that there will be two scenarios for the real estate market in the second half of the year. Specifically, in the first scenario, if the real estate market remains in difficulties and investors' confidence has not been restored, it is possible that capital will continue to stay in the banking system even though interest rates are at lower levels.In the second scenario, if the deposit interest rates fall to 6-7 per cent by the end of this year or even do not decrease, the capital from deposits will likely return to the real estate market when buyers' confidence is improved.The real estate market in the first half of 2023 had many difficulties with low liquidity and a reduction in selling prices. — VNS (ICE HO CHI MINH CITY)

Fonte notizia: Vietnam News