Real estate sales prices are increasing

News

That is the information emphasized by real estate businesses in a discussion on December 12.

Giá bán bất động sản đang tăng từng ngày

Real estate prices are still increasing every day

Mr. Nguyen Quoc Hiep, Chairman of GP. Invest, believes that the problem of market supply and demand mismatch needs to be resolved.

"The prices of real estate projects are still increasing every day," Mr. Hiep stated.

For example, The Nine project (Mai Dich, Cau Giay) in the second quarter of 2022 was sold at prices from about 45 - 60.4 million VND/m2. However, in the third quarter of 2023, it increased to 58.8 - 69.2 million VND/m2.

Thus, the selling price of apartments in this project has increased by 17.2% in the past year. "This shows that demand for housing is very high but supply is scarce," Mr. Hiep said.

GP President. Invest believes that the problem of this mismatch between supply and demand is legal.

"70% of the problems are legal, this is an issue I have talked about many times but today I still have to emphasize because once the legal system is resolved, the real estate market can operate," Mr. Hiep said.

GP leader. Invest said that currently there are too many administrative procedures required, which greatly affects businesses.

For the real estate financial flow to operate again, Mr. Hiep proposed that it is necessary to continue to create confidence in corporate bonds because many real estate businesses are managing with bonds.

In addition, President GP. Invest Nguyen Quoc Hiep also recommends that real estate businesses make good use of FDI capital flows because this capital flow is quite cheap.

Mr. Nguyen Quoc Hiep proposed that relevant agencies need to have a land valuation plan for localities to apply. At the same time, it is necessary to shorten the process to support credit for businesses.

Mr. Pham Duc Toan, General Director of EZ Property shared: "I have been involved in the real estate market for 20 years, I can say I have never seen businesses as difficult as they are now. It is difficult for production, trade, import-export, and real estate. Many workers are unemployed. Therefore, if we expect the real estate market to improve in the short term, it will be very difficult. The bottleneck of the real estate market is bonds enterprise".

According to Mr. Toan, the extension period for Decree 08 is the end of 2024. His observation shows that almost no real estate businesses have enough cash flow to repay bonds. "That is very dangerous," Mr. Toan emphasized.

Besides, the real estate market has many other legal issues. "Experts have talked a lot about legal procedures, I would like to emphasize the difficulty that is Real Estate Pricing to determine Land use levy. Many businesses "fail" because of Land use levy. Localities also have difficulty collecting budget revenue.

For example, in a locality in the North, the Land use levy in 2023 is more than 12,000 billion VND but now it is only 1,100 billion VND. The reason is that not many businesses pay money, and most of them are filing lawsuits. I think the Land Law must be clear about Land use levy for businesses," Mr. Toan said.

From another perspective, EZ Property CEO said that the real estate market started to get difficult in 2018, but the Land Law has been in place since 2013.

“So in the 5 years from 2013 to 2018, why was the market still good? And why do provinces like Quang Ninh, Hai Phong, and Vinh Phuc have very good real estate markets but many other provinces have difficulties? “, Mr. Toan asked.

According to Mr. Toan, it is because of the people, and the way they perceive and support businesses. We see that social housing is now more difficult than commercial housing because there are too many procedures, calculating Land use levy and then waiving them, a process that takes 2 years. “There are projects that have not been legally completed for 8 years, while the investment policy already exists. I think legality is what needs to be resolved for the real estate market first," Mr. Toan said.

Also according to Mr. Toan, prices must be reduced. The government needs to have a housing/real estate investment fund. For example, at the gateways to the Capital, the Government used that investment fund to build 4 urban areas, each a few hundred hectares.

"I believe that then house prices will be controlled. Now there is no such area, no one does anything. That is due to mechanisms and policies, not people," EZ Property General Director emphasized.

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2908-2023

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2507-2023

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2407-2023

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2007-2023

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1907-2023

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1807-2023

Real estate and new signals

1707-2023

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1507-2023

Real estate market in the second half of 2023

1407-2023

Merger of a series of administrative units of districts and communes of Lam Dong province

1307-2023

Change the purpose of land use, separate the land plot in Lam Dong

1207-2023

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1107-2023

Chinese and Singaporean enterprises continuously pour capital, and a province has exceeded the investment target in just 6 months

0807-2023

24h Real Estate: Dong Nai prepares to have 7 more provincial roads

0707-2023

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0607-2023

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0407-2023

A real estate segment in Ho Chi Minh City appeared, thereby showing signs of recovery

2706-2023

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2606-2023

The Minister of Construction affirmed that real estate transactions through the trading floor do not increase the selling price

2206-2023

Real estate in the suburbs - attracting investors

2006-2023

Bao Loc Real Estate is facing new development opportunities

1906-2023

Supply only accounts for 30% of real demand, this segment is extremely attractive to private enterprises

1706-2023

Revealing the list of enterprises winning the largest highway construction contract

1606-2023

Planning of Tan An city become a satellite urban of Ho Chi Minh City

1406-2023

VND 1,000 billion coastal road is delayed due to titanium mine

1306-2023

Ba Ria - Vung Tau coastal road in the future

1206-2023

Suggest to merge some districts and communes in Lam Dong province

0806-2023

Real estate transactions in Lam Dong show signs of increasing again

0706-2023

24h Real estate : Consider expanding the Ho Chi Minh City - Trung Luong expressway to 10 lanes

0306-2023

Lam Dong needs more land to implement many big projects

0106-2023

Dong Nai wants to auction 36 land plots of nearly 800 billion VND

3105-2023

When will real estate liquidity return?

3005-2023

4 things to choose for a real estate location

2505-2023

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2405-2023

Lam Dong: Two documents related to parcel separation and consolidation

2305-2023

Forecasting developments in resort real estate mergers and acquisitions in the next few quarters

2205-2023

How to know if the land plot in use is eligible for a Certificate of land use rights?

1805-2023

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1805-2023

Binh Thuan resort real estate benefits from infrastructure

1605-2023

Binh Thuan welcomes a series of good news, prepares for a new growth cycle

1305-2023

Lam Dong plans to make many important plans to make a big impact on the real estate market

0505-2023

6 coastal urban areas will be developed and formed in Ninh Thuan

0405-2023

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2804-2023

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2404-2023

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Proposal to tax real estate ownership and inheritance to reduce home prices.

2104-2023

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1804-2023

Nearly 16,000 billion in investment sources for railways in the period of 2021-2025

1704-2023

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1404-2023

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1304-2023

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1204-2023

Prime Minister asked to reduce procedures in land transactions

1104-2023

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1004-2023

The price of land plots in Binh Thuan has skyrocketed

0804-2023

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0704-2023

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0404-2023

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0304-2023

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0104-2023

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3103-2023

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3003-2023

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2803-2023

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2703-2023

2503-2023

Binh Duong and Ho Chi Minh City invested 5,300 billion VND in Di An - Thu Duc city

2303-2023

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2203-2023

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2103-2023

what direction will the expansion planning in Da Lat city change?

2003-2023

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1803-2023

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1703-2023

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1603-2023

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1503-2023

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1403-2023

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1303-2023

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1702-2023

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1502-2023

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1402-2023

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1302-2023

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1002-2023

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0902-2023

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0702-2023

0602-2023

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0202-2023

3101-2023

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3001-2023

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1901-2023

In 2023, Chinese real estate will recover step by step

1801-2023

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1701-2023

Investing in the Khanh Hoa - Lam Dong - Dak Lak expressway project

1401-2023

Tourism real estate prices still increase

1301-2023

2 major roads in An Giang cost 1,600 billion VND

1201-2023

Mobilized interest rates are expected to increase slowly

1101-2023

Ho Chi Minh City has proposed the scale of Cat Lai bridge as well as the construction of two additional bridges connecting with Dong Nai.

1001-2023

The apartment market is expected to be good in mid-2023

0901-2023

January 7: Steel coil prices increased simultaneously

0701-2023

17 expressways start to construct in 2023

0401-2023

The estimated investment is nearly 730,000 billion VND in 2023

0301-2023

Expect cash flow to return in 2023

3112-2022

Why do luxury real estate located in the central area still attract investors?

3012-2022

When will real estate return?

2912-2022

5 potential signs of real estate

2712-2022

Real estate prices will increase again in 2023

2712-2022

When will the new urban planning project of Cam Lam, Khanh Hoa be completed?

2612-2022

2312-2022

Da Nang spends nearly 3,000 billion VND on 2 traffic projects in 2023

2212-2022

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Is loosening credit room a "magic wand" for the real estate market?

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