The Vietnam Association of Real Estate Agents (VARS) said that when the new law comes into effect from August 1, the "wait" mentality will be eliminated. Project developers and state management agencies have started a new round of competition to eliminate bottlenecks.
 
VARS said that the 2024 Land Law, the 2023 Housing Law, the 2023 Real Estate Business Law, and Article 209, Paragraph 2 of the Credit Institutions Law, which came into effect from August 1, will have a positive impact. Contribute to promoting the recovery and development of the real estate market.
 
When the law comes into effect, the "wait" mentality will be eliminated. Project developers have started a new round of competition with state management agencies to eliminate bottlenecks. Investors are more confident in selling goods.
 
Increased investor confidence has prompted banks to mature cash flow into real estate. Brokers and brokerage service companies are actively improving their capabilities, recruiting teams, cultivating knowledge, and adapting to new regulations.
 
Increased investor confidence drives bank maturing cash flows into real estate
 
VARS believes that while waiting for the new law to "land", the real estate market will continue to recover slowly and sustainably, and gradually achieve better results. By the end of the year, the recovery process of the real estate market will have made significant progress. The recovery results will continue to be divided by market segments and regions, but the degree of differentiation will be more uniform.
 
For the housing sector, VARS predicts that supply will continue to improve in the second half of 2024. It is expected to increase by about 20% compared with the first 6 months of 2024. The demand for home purchases will continue to remain high, and investment demand will recover by about 30% from the beginning of the year, and target new markets.
 
As supply is expected to "rebound" only at the end of the year, the number of house transactions is expected to increase by about 20% compared with the first half of the year, and the liquidity of the secondary market has also changed significantly due to the efforts of institutions. National management and real estate enterprises to improve efficiency.
 
What followed was a significant increase in the transaction volume and selling price of villas/townhouses and townhouses. Especially the secondary market, thanks to the previous recovery platform and investors' expectations of higher profits.
 
Land has gotten rid of the "bottom" of price decline and gradually returned to the "investment kingly way". However, what investors "hunt" is only auctioning land and dividing plots, and the price level is not too high in areas with well-developed infrastructure.
 
When the new regulations aimed at eliminating difficulties and obstacles are effectively implemented, the affordable housing sector also faces the opportunity of "reversal". As enterprises acquire land funds to develop industrial parks, the industrial real estate sector continues to grow.
 
Promote the more prosperous and faster development of the sustainable industrial park model, and contribute to the development of the green circular economy advocated by the Party and the State. At the same time, the supply of the tourism and holiday real estate sector continues to improve, and more "brave" merchants launch goods, but the number will not be large because the overall real estate market has not really prospered.
 
In the future, when the law comes into effect, the new land price list will be higher. This means that the land use fee is higher, people get more compensation, and enterprises face greater pressure on available funds.
 
With this new playground, there will be room in the market for investors who systematically conduct business and have a lot of land funds, financial resources and capabilities.
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