The report data on the real estate market situation in the first 6 months of 2024 by the Ministry of Construction recorded many positive reactions with many positive signals.

Accordingly, the level of interest and search for information about real estate of customers and investors has increased; the number of transactions of apartments, individual houses and land plots tends to increase (the following quarter is higher than the previous quarter and higher than the same period in 2023).

According to the Ministry of Construction, after a period of limited supply, real estate is showing signs of positive change, with the market recording the return of a series of old projects being restarted and new projects being opened for sale.

"The adjustment of bank interest rates and the introduction of many policies beneficial to home buyers by investors have increased customer confidence and liquidity," the report stated.

Real estate market data in the first 6 months of 2024 also shows that in terms of commercial housing supply, there are 18 completed projects, 23 newly licensed projects and 984 projects under implementation.

Infrastructure investment projects to transfer land use rights for housing construction have 32 completed projects, 16 newly licensed projects and 519 ongoing projects, social housing has 8 completed projects.

Regarding transaction prices, the average selling price of apartments in the whole market has tended to increase from the end of 2023 to the present, especially in large cities such as Hanoi and Ho Chi Minh City.

The transaction prices of individual houses and land plots also tend to increase, the reason is said to be due to the increase in apartment prices and the scarcity of supply, causing the selling prices in this segment to also increase sharply.

The Ministry of Construction assessed that the high demand for apartments and the scarcity of supply have caused prices in this segment to increase sharply. In terms of transaction volume, there were about 253,000 successful transactions, equal to 110.26% compared to the last 6 months of 2023. Transaction volume mainly focused on the land segment.

Regarding real estate credit, according to the State Bank's report, as of February 28, 2024, outstanding credit for real estate business activities reached more than 1.1 million billion VND.

Regarding the corporate bond channel, the volume of corporate issuance in the first quarter of 2024 decreased by 36% compared to the same period last year.

At the same time, the pressure to mature bonds in 2024 is still high. In 2024, it is estimated that about VND 279,219 billion of bonds will mature, mostly real estate bonds with VND 115,663 billion, equivalent to 41.4% of the total.

Regarding FDI capital, as of June 20, 2024, the real estate business sector attracted registered capital of foreign direct investment projects reaching 1.89 billion USD, ranking second in total newly registered capital, up 4.7 times over the same period in 2023.

According to the Ministry of Construction, although the real estate market has overcome the most difficult period, the market and real estate businesses are still facing many difficulties and challenges due to the influence of many unfavorable factors at home and abroad.

In the coming time, the Ministry of Construction will continue to carry out the tasks of the Prime Minister's Working Group on reviewing, urging, and guiding the removal of difficulties and obstacles in the implementation of real estate projects for localities and enterprises.

The Ministry also proposed solutions to remove difficulties, rebalance supply and demand, restructure real estate market products, increase supply, especially social housing supply, housing for middle-income and low-income people.

Regularly monitor real estate market developments, strengthen information and forecasting, promptly respond to unusual market fluctuations, and promptly handle arising problems.