Hundreds of housing projects in Ho Chi Minh City are currently entangled in legal procedures. Experts predict that the real estate market is now entering a recession phase.
Even though the economy is making a steady recovery post-pandemic, many financial experts believe that only more flexible and extreme drastic measures and policies could prevent the country from falling into an impending recession.
From the end of this year onwards, real estate businesses will face a worrisome period due to cash flow shortages as corporate bonds will begin to mature. This will be in sharp contrast to the enthusiasm with which these businesses raced with each other to issue bonds in the years 2019 until 2021.