28 pct of realty trading floors face bankruptcy
28 pct of realty trading floors face bankruptcy
Many real estate trading floors have little or no business amid Covid-19, and 28 percent face the risk of bankruptcy, according to the Vietnam Association of Realtors.
The eastern part of HCMC. Photo by VnExpress/Quynh Tran
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After surveying 500 floors with a total workforce of 75,000, it said another 32 percent are struggling to sustain their operations.
Over 80 percent have had little or no revenues recently and 78 percent have had to downsize or furlough employees.
Most said they have not benefited from government assistance. Some 75 percent said their taxes have not been deferred.
The association wants the government to add realty, including brokerage, to the list of sectors eligible for relief assistance, and allow trading floors to defer tax and social insurance premium payments.
