Real estate cannot recover because of the state agencies' shirking and evasion of responsibility.

There is still a situation of "passing the ball", "passing the buck", "evading responsibility"

According to the report of the Vietnam Association of Realtors (VARs), the real estate market in the second quarter has changed more positively than in the first quarter of 2023, but has not yet been able to make a strong breakthrough.

According to VARs, the mechanisms and policies from the Government have had the effect of “encouraging”, “inspiring”, and “reassurance” for market participants. However, it is time to move quickly to the next stage.

There is still a situation of "passing the ball", "passing the buck", "evading responsibility". (Photo: CP)

Mr. Nguyen Van Dinh, Chairman of VARs, commented: The direct impact stage is like a doctor before surgery. Immediately after encouraging and reassuring the patient, the surgical procedures must be performed quickly.

“Because only when the surgery is successful will the patient’s problem be completely resolved. The longer it takes, the more hesitation, the more dangerous it is for the patient,” Mr. Dinh commented.

According to Mr. Dinh, “Capital – Land Fund – Policy” creates a three-legged tripod. But it is not a pillar to help the market recover, but is like a net surrounding the market, making it impossible for the market to escape.

Therefore, it is still essential to correctly identify the bottlenecks and handle them in the right order. Because if the previous bottleneck is not cleared, clearing the next bottleneck will not essentially solve the problem.

Specifically, opening up the supply of affordable housing products that meet people's practical needs is the key to opening the door to the real estate market at this time.

Besides, there is still a situation of "passing the ball", "passing the buck", "evading responsibility" among some state management officials, causing legal procedures to be delayed, affecting businesses.

“However, there are bright spots in some localities such as Da Nang, Khanh Hoa, Long An, especially Ho Chi Minh City... with the active participation of local management agencies in project approval, thoroughly resolving problems of each specific project,” commented the Chairman of VARs.

Positive signals from the market

VARs' report also shows that, for the first time in many years, project investors have clearly shown their goodwill in selling with a series of attractive stimulus policies such as discounts, promotions, long-term interest rate support, especially early home delivery and extended payment period (typically up to 3 years for some projects).

The transaction situation and prices in the secondary market are differentiated by price segment. Products with a value higher than 20 billion VND recorded a reduction of up to 30% compared to the peak.

A series of stimulus policies have been launched into the market. (Photo: BP)

Products that meet real needs, priced under 3 billion VND, have recorded transactions again with a slight increase in price compared to the first quarter. This is a time of "heavenly time, favorable location, and harmony" for customers with available cash flow who need to buy real estate for real estate purposes and long-term investment.

In addition, traffic infrastructure is being promoted in many areas across the country, contributing positively to the development of the surrounding real estate market.

M&A has started to become more active with many reports of “project hunting” by domestic and foreign investors. However, most of the deals are still at the ordering, reviewing and surveying stages, and have not yet moved to the finalization stage.

To achieve the goal of market transformation, VARs recommend that the promulgated Law must closely follow practical requirements, and state management agencies need to specify tasks and closely monitor the promulgation and implementation of legal documents.

"Ineffective policy implementation will slow down progress, even crush ongoing projects, and block the entire country's economy," VARs said.

At the same time, it is time to “kill” the concepts of “policy lag” and “policy penetration”. Because waiting will invisibly contribute to further suffocating the market. There is no reason to spend time researching vaccines and then delay and be leisurely in vaccination.

Source: https://www.congluan.vn/bat-dong-san-ghi-nhan-diem-sang-o-mot-so-dia-phuong-nhu-da-nang-khanh-hoa-long-an-tphcm-post256216.html