Real estate has passed the most difficult period, social housing will break out

The Ministry of Construction assessed that the real estate market has positive changes, overcoming the most difficult period, and social housing development nationwide will make a breakthrough in the coming time... are the highlights of the industry.

Social housing real estate will accelerate in 2025. In the photo: Social housing area at plots CT3, CT4 - Kim Chung new urban area, Dong Anh district, Hanoi. (Source: Investor)

Bright door to buy social housing

The Ministry of Construction has just announced 10 highlights of the construction industry in 2024. Of which, 2024 marks a growth milestone of about 7.8-8.2%, the highest since 2020, exceeding the target assigned by the Government in Resolution No. 01 (6.4-7.3%).

This is also the highest growth rate achieved by the Construction industry since 2020, which is the driving force for the overall GDP growth of the economy. The urbanization rate reached 44.3%, exceeding the target assigned by the National Assembly of 43.7%. The Construction industry also achieved two other targets assigned by the Government, including: The wastewater collection and treatment rate of 18% and the average housing area nationwide of 26.5 m2 of floor space/person.

Assessing the real estate market last year, the Ministry of Construction said that many synchronous solutions were implemented to remove difficulties for the market. The Prime Minister's working group on removing difficulties and obstacles in implementing real estate projects worked with localities and real estate enterprises to grasp information, situations and review each specific project to discuss, guide and answer to remove difficulties and obstacles in implementation.

“The real estate market has had positive changes, overcoming the most difficult period to gain momentum for recovery and development,” the Ministry of Construction emphasized.

Another highlight of the past year was the special attention paid to the development of social housing. On May 24, the Secretariat issued Directive No. 34 on strengthening the Party's leadership over the development of social housing in the new situation.

The Ministry of Construction is submitting to the Government a draft resolution on preferential capital sources for social housing development. Accordingly, it proposes to implement a preferential package of VND100,000 billion for social housing loans from bond capital, applicable for 5 years. The above efforts will be the premise for the development of social housing nationwide to accelerate in the coming time.

Streamline the apparatus

The drastic implementation of the summary of Resolution 18 and the Project to streamline the apparatus were also selected by this ministry as one of the 10 highlights of the Construction industry in the past year.

Accordingly, the Ministry of Construction has urgently and actively worked with the Ministry of Transport to complete the summary report of Resolution 18 and the draft Project on Merging the Ministry of Construction and the Ministry of Transport, and report to the Prime Minister on time. It is expected that after the arrangement, merger and consolidation, there will be 24-27 units, a reduction of 35-41% of the total number of units.

The construction industry over the past year has also seen strong changes in the research, production, and supply of green materials, new materials, and alternative materials in construction. The government has issued many policies and mechanisms to promote the development of green materials.

With appropriate policy mechanisms, many types of green materials and new domestic materials have been increasingly researched and developed, contributing to the increasing number of green buildings in Vietnam. In 2022, there were about 200 green buildings. By 2023, there were about 300 green buildings and by 2024, there were over 500 green buildings.

Besides, the National Assembly passed the Law on Urban and Rural Planning, and institutional improvement continued to be a bright spot of the industry.

In addition, promoting decentralization in state management, actively removing difficulties and obstacles for key and important national projects and works, and continuing to focus on implementing Resolution No. 06 are also considered by the Ministry of Construction to be the highlights of the industry in the past year.

Source: https://baoquocte.vn/bat-dong-san-da-qua-giai-doan-kho-khan-nhat-nha-o-xa-hoi-se-but-pha-299034.html