The outlook for the real e🍬state market towards the end of the yꩲear remains gloomy, despite credit loosening policies for the property sector and a reduction in borrowing interest rates.
The Ministry of Construction said that difficulti💜es in the domestic e😼conomy will have a negative impact on the production and business of construction enterprises and property traders.
Many construction and property trading companies have already gone bankrupt because people simply aren't buying houses, so the real estate market has little chance of recovery before th𝔉e end of this year, said economist Bui Kien Thanh.
The Gover꧒nmenthad plans to pump capital into some property projects and housing forlow-income earners, Thanh said, but that is unlikely to affect the market as a whole.
The market will only really recover when people had money again toಌ buy houses, he said.
To solve this stagnancy, property companies need to switch from luxuryhigh-end apartments, and concentrate on affordable housing, Thanh said.
If the cꦗompanies could start selling properties, then banks may consider providing loans for future projects, he said.
Savills Vietnam , a property consulting firm, said according to its survey on Hanoi 's ♉real estate m𝓀arket in the second quarter released on July 10, one in five people asked said they are still interested in purchasing a property.
Most investors said they have no plans to lend capital for property development, according to the survey.🌳
Savills Vietnam expected property prices to continue to fall, especially villas and houses.
T༒he Ministry of Construction reported🤡 that in the first half of the year, the real estate market has fallen.
Banks has reduced interest rates and increased credit for the real estate sector and those involved in the 💜sector has taken note, the ministry said.
But this has failed to stimul♋at♐e the market, and most buyers are waiting for prices to fall even further, it ꦬsaid.
The situation has had a knock on effect on building material producers and con♊struction🔥 firms.-VNA
The Ministry of Construction said that difficulti💜es in the domestic e😼conomy will have a negative impact on the production and business of construction enterprises and property traders.
Many construction and property trading companies have already gone bankrupt because people simply aren't buying houses, so the real estate market has little chance of recovery before th𝔉e end of this year, said economist Bui Kien Thanh.
The Gover꧒nmenthad plans to pump capital into some property projects and housing forlow-income earners, Thanh said, but that is unlikely to affect the market as a whole.
The market will only really recover when people had money again toಌ buy houses, he said.
To solve this stagnancy, property companies need to switch from luxuryhigh-end apartments, and concentrate on affordable housing, Thanh said.
If the cꦗompanies could start selling properties, then banks may consider providing loans for future projects, he said.
Savills Vietnam , a property consulting firm, said according to its survey on Hanoi 's ♉real estate m𝓀arket in the second quarter released on July 10, one in five people asked said they are still interested in purchasing a property.
Most investors said they have no plans to lend capital for property development, according to the survey.🌳
Savills Vietnam expected property prices to continue to fall, especially villas and houses.
T༒he Ministry of Construction reported🤡 that in the first half of the year, the real estate market has fallen.
Banks has reduced interest rates and increased credit for the real estate sector and those involved in the 💜sector has taken note, the ministry said.
But this has failed to stimul♋at♐e the market, and most buyers are waiting for prices to fall even further, it ꦬsaid.
The situation has had a knock on effect on building material producers and con♊struction🔥 firms.-VNA
