Real estate developers propose solutions to aid recovery

Aug 5th at 14:00
05-08-2023 14:00:51+07:00

Real estate developers propose solutions to aid recovery

At a conference organised by the government on August 3 to review the implementation of Resolution No.33/NQ-CP, a number of solutions to aid the recovery of the real estate market and promote sustainable development in the sector were proposed by Hung Thinh Group chairman, Nguyen Dinh Trung.

Trung suggested authorities expedite administrative procedures to grant construction licences, so developers can generate employment and also deliver a boost to the construction material sector.

“At present, businesses just can only apply for loans from banks after completing the prolonged procedures for a construction licence,” Trung said.

Trung went on to say that Hung Thinh Group expects the authorities to keep the residual methodology on land value determination as most consider it to be the best available method.

“It will be difficult for state agencies and businesses if we value land usage fees based on market prices. Therefore, we suggest that the Ministry of Natural Resources and Environment, the Ministry of Finance, and the Ministry of Construction consider using the land price adjustment coefficient method, following the recommendation of many experts, including the Ho Chi Minh City Real Estate Association,” Trung said.

Hung Thinh Group has registered to participate in a project to develop a million affordable social housing apartments by 2030, and is currently seeking funds to implement its plans.

After listening to the proposals at the conference, Prime Minister Pham Minh Chinh said, "While the property market is showing signs of improvement, the recovery has been sluggish and many real estate firms remain in difficulty."

The prime minister tasked the relevant ministries and agencies with proposing new mechanisms and policies to remove the bottlenecks from the market.

vir



NEWS SAME CATEGORY

PM highlights responsibilities of all stakeholders in real estate market

Prime Minister Pham Minh Chinh has emphasised that relevant stakeholders need to cooperate to remove the obstacles and allow the real estate market to develop...

Solutions proposed to solve real estate market issues

Despite effort from the government, real estate developers are struggling with numerous challenges that require supportive policies to overcome.

PM highlights responsibilities of all stakeholders in real estate market

Prime Minister Pham Minh Chinh has emphasised that relevant stakeholders need to cooperate to remove the obstacles and allow the real estate market to develop...

Vietnam allows 3,035 foreigners to purchase homes

The sale of homes to foreigners is set to be a significant issue as the National Assembly discusses the amended draft Law on Housing.

Hanoi’s office market impacted by rising tide of companies leaving

The fact that companies are withdrawing from the market in droves or facing financial pressure took a toll on the office space market in Hanoi in the first half of...

Luxury apartments to be rolled out in Hanoi and Ho Chi Minh City

Vietnam's real estate market showed signs of slowing in the first half of 2023 with a large amount of inventory, mainly from incomplete projects due to a lack of...

Real estate developers voice issue with new loan conditions

Contents in a new circular to take effect in September have raised concerns from real estate developers over potential added difficulties for businesses to access...

Resolution 15 outcomes: Strong leap forward

Today, the city has a new urban space and a renewed profile, thanks to numerous modern and civilized urban works.

Associations insist on land value u-turn

Policy tweaks that seek to change the way land and property is valued are causing unease in the real estate sector.

Retail real estate market witnesses surge in new projects

The retail real estate market in Vietnam is gearing up for a significant growth spurt as several major players from both local and foreign shores embark on a series...

Real estate stocks

Construction stocks


MOST READ


Back To Top