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Customers see a realty project |
According to the Ho Chi Minh City People's Committee’s announcement of information on housing and real estate market for the third quarter of 2023, the real estate market in the southern largest city continues to develop, showing signs of slight recovery compared to the first half of 2023 and in 2022.
Real estate business activities saw negative growth (-8 .71 percent) in the first 9 months of 2023 against the same period of 2022 while revenue of real estate businesses in the first 9 months of 2023 decreased (-4.7 percent) over the same period.
With the city's efforts in disbursement of public investment capital up 100.4 percent compared to the same period in the same 9 months of 2022, it has promoted the construction industry to recover in the first 9 months of the year. Previously, the first 6 months of 2023 had negative growth (-8.45 percent).
According to the Ho Chi Minh City People's Committee, the above recovery in the real estate market is because the country’s entire state machinery in general and the city’s government in particular have taken steps to remove the legal problems of each project. Moreover, departments and relevant agencies have worked together to find solutions for various difficulties of realty projects.
In addition, the State Bank’s move to loosen monetary policy and commercial banks’ lending interest rate reduction have helped to clear capital stagnation for real estate businesses.
