The number of newly established real estate businesses and registered capital continued to decline sharply in the first half of the year, less than half compared to the same period last year.
According to data from the Department of Business Registration Management (Ministry of Planning and Investment), real estate business continues to be under the most pressure and impact among all industries. This is reflected in the number of businesses entering the market and newly registered capital decreasing by nearly 59% and 54% respectively compared to the same period last year.
Meanwhile, the number of real estate businesses withdrawing from the market is still high, over 40% compared to the same period in 2022, the highest level among 17 fields and industries.
The Vietnam Real Estate Brokers Association in a report released in early June also assessed that real estate businesses were in a state of "like drowning people". The Ministry of Construction in recent comments also pointed out that the real estate market has not yet overcome its difficulties. Supply has decreased, businesses cannot sell their products, and there is no cash flow.
The current difficulties of real estate businesses contrast with the impressive growth in the number of units entering the market in this field in the first half of 2021, when it was nearly 45% higher than in 2020.
However, if we look at the overall business picture, the market has some positive signs . In June, the number of new businesses and re-entering the market reached about 21,000 businesses.
In the first half of the year, more than 113,000 new businesses were established and returned to the market, an average of 19,000 units per month. Meanwhile, about 100,000 businesses withdrew, an average of 16,600 units. This number decreased by 6% and 13% respectively compared to the average of the first 5 months and 4 months of this year.
"These are positive signals in the context of many difficulties in production and business activities of enterprises," said the Department of Business Registration Management.
However, the average registered capital per enterprise in the first 6 months of the year only reached 9.3 billion VND, the lowest in the same period in the past 5 years. The additional registered capital also decreased by more than 48% compared to the same period in 2022.
Difficulties in orders, increased inventories, high raw material prices while purchasing power is weak are the reasons why businesses reduce their demand for new loans for production. The Department of Business Registration Management recommends that support policies, trade promotion and removing market difficulties for businesses need to be accelerated by ministries and branches. Because, when there are more solutions to boost output, businesses will have the resources to repay debts and absorb new capital.
Duc Minh
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