DNVN - According to the Vietnam Association of Realtors (VARS), when the new laws come into effect from August 1, the "waiting" mentality will be removed. Project development enterprises will start a new race to untie the knot with the State management agency.
According to VARS, the 2024 Land Law, 2023 Housing Law, 2023 Real Estate Business Law and Clause 2, Article 209 of the Law on Credit Institutions coming into effect from August 1 will have a positive impact, contributing to promoting the recovery and development of the real estate market.
When the laws come into effect, the "wait and see" mentality will be removed. Project development enterprises will start the race to untie the knot with the State management agency. Investors will be more confident in launching their products.
Investors are given more confidence, promoting the cash flow maturing at banks to flow into real estate. Brokers and brokerage service businesses actively improve their capacity, recruit, train knowledge, and meet new regulations.
VARS believes that, during the period of waiting for the new laws to "absorb", the real estate market will continue to recover slowly and sustainably, with gradually improving results. By the end of the year, the recovery process of the real estate market will have clear progress. The recovery results will continue to be differentiated by segment and region, but with a more even level of differentiation.
Regarding the housing segment, VARS forecasts that supply in the second half of 2024 will continue to improve. It is estimated to increase by about 20% compared to the first 6 months of 2024. Demand for housing will continue to remain high, along with investment demand recovering by about 30% compared to the beginning of the year and moving towards new markets.
Housing transaction volume is expected to increase by about 20% compared to the first half of the year as supply is expected to only "bounce back" at the end of the year. Liquidity in the secondary market has also changed significantly as the efforts of state management agencies and real estate enterprises have been more effective.
Along with that, transactions and selling prices of villas/townhouses and townhouses have improved across the board, especially in the secondary market, thanks to the previous recovery foundation and investors' expectations of higher profits.
Land prices have fallen off the "bottom" and are gradually becoming the "king of investment channels". However, investors are only "hunting" for auctioned land, subdivided plots of land, in areas with completed infrastructure and prices that are not too high.
The social housing segment also faces the opportunity to "reverse" when new regulations aimed at removing difficulties and obstacles are effectively implemented. The industrial real estate segment continues to grow with the acquisition of land funds to develop industrial parks (IPs) by corporations.
Sustainable industrial park models will be promoted to develop more rapidly and prosperously, contributing to the development of a green and circular economy as advocated by the Party and the State. At the same time, the supply of tourism and resort real estate continues to improve with more "courageous" businesses launching their products. However, the quantity will not be significant because the general real estate market has not really flourished.
In the coming time, when the laws come into effect, the new land price list will be higher. This means that land use fees will be higher, people will receive more compensation, and businesses will face greater pressure on available capital.
With this new playground, the market will only have room for investors who do business systematically, have large land funds, financial resources and capacity.
Hoai Anh
Source: https://doanhnghiepvn.vn/kinh-te/bat-dong-san/doanh-nghiep-bat-dong-san-se-bat-dau-cuoc-dua-moi/20240727082615813
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