Tuesday, May 28, 2024 12:17:46 PM - Markets open
VN-INDEX 1,272.47 +4.79/+0.38%
HNX-INDEX 245.15 +2.32/+0.96%
UPCOM-INDEX 95.11 +0.24/+0.25%
HCM City to remove challenges facing 116 property projects
Vietnamnews - 3/3/2023 3:17:14 PM
 (0 ratings. You must sign in to rate.)
The HCM City government has instructed the Department of Construction to resolve the problems faced by 116 real estate projects, mostly legal bottlenecks, a demand made by the HCM City Real Estate Association (HoREA).
 
Speaking at a recent meeting, Bùi Xuân Cường, deputy chairman of the city People’s Committee, said the administration has already provided guidance to relevant agencies to address the issues.
 
He instructed the departments of Construction, Natural Resources and Environment, Planning and Investment, and Planning and Architecture to work with HoREA and developers for the purpose, and to report to the administration before March 5 in case of issues beyond their ambit.
 
The Department of Planning and Investment has been asked to propose measures to speed up investment procedures, and given a March deadline for it.
 
The Department of Construction has to advise the city on how to speed up procedures for social housing projects and attract investment in the projects to meet the high demand.
 
HoREA has repeatedly flagged a number of challenges facing the property sector, and urged the administration to mitigate them.
 
Investment and construction bottlenecks have remained unresolved for years, causing long delays, it said, calling for streamlining administrative procedures, especially related to payment of land use fees, adjustment of land use rights and licences.
 
PM Phạm Minh Chính recently ordered the setting up of a task force to assess and resolve the problems faced by the property sector.
 
It is headed by the Ministry of Construction and State Bank of Việt Nam.
 
The real estate sector, which contributes 11 per cent to the nation’s GDP, has organic relationships with several other fields and creates a large number of jobs.
 
Experts have warned that the challenges that cast a shadow over the property sector like lack of funding, low liquidity and a likely global recession would last until 2024.
 
They have called for diversifying housing products, especially by increasing affordable housing, and addressing the mismatch between supply and demand. — VNS
 
Read original article here
Newer News
25/05 Hà Nội sees recovery in low-rise property prices but apartment prices fall
08/05 2024 Land Law to draw real estate investment, increase social housing supply
08/05 Real estate market in the South picking up
19/04 Ministry requests Hà Nội to inspect rising prices of apartments
17/04 Real estate market has positive performances in Q1: VARS
05/04 Developers must verify with foreign homeowner's database before sales
28/03 Management of real estate brokers to be tightened
23/03 HCM City real estate market to recover in H2
23/03 Industrial real estate emerges out of storm
18/03 Lots of ground to cover to build 130,000 social housing units this year
Older News
16/01 Experts call for favourable policies to help real estate
16/12 Domestic real estate market boom unlikely in 2023
16/12 Domestic real estate market boom unlikely in 2023
16/12 Interest rate for social housing loans to be raised to 5% in 2023
07/12 MoF to raise taxes on land and housing
07/11 Real estate market must be digitalised
03/10 Banking, real estate not ideal options for short-term investors
13/09 Industrial real estate likely to pick up in remaining months
30/08 PM highlights solutions to ensure sustainable development of real estate market
16/08 Demand for logistics real estate increases sharply: Savills Vietnam
 
Newsletter Signup
Top Stories
VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
Interest rates to rise but not have major impact on stock market: economist
Businesses concerned about rising exchange rate pressure
Gold bar auction to be resumed after 11 years of suspension
Market Update
Last updated at 12:15:00 PM
VN-INDEX 1,272.47 +4.79/+0.38%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.