No subjective property market

28/02/2017   Viewed: 896
"Despite being rated as no big changes in 2017 and early 2018 but still not subjective to the property market. In particular, high-end segment, are manifestations of excess, there were enough products for 2020 ".
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That is the statement of the Minister Pham Hong Ha Construction on the current real estate market. According to Minister Pham Hong Ha, the Ministry of Construction is building the project evaluating the real estate market, which proposed solutions, the management mechanism to ensure the healthy development of the market, sustainable, effective fruit, smooth.

As reported by the Ministry of Construction, by the end of 2016, real estate inventory to around 31 trillion, which is mainly high-end projects and projects in the outlying and infrastructure are not synchronized. In fact, the senior project investment is quite strong. City alone. HCM has about 64 thousand apartments and 2,700 villas / townhouses are in the implementation phase. Segment is priced from $ 2,000 / m2 or more accounted for 50% of the total market supply. Only in the fourth quarter / 2016, Ho. HCM have at least 9-12 thousand new apartments were offered. Segment villas / townhouses have from 1.2 to 1.5 thousand units, priced from 250-450 USD / units were offered to the market. This figure accounts for 70% of total supply. Meanwhile, Hanoi now has more than 59 thousand apartments is not complete, is expected to be more than ten thousand apartments will be launched in the near future.

Experts said that high-end real estate market flourished entail credit largely focused on high-end products, or just focus on a number of investors lead to potential big risk if such as poorly controlled projects and financial condition, liquidity, balance product.

In addition, City Real Estate Association. HCM also repeatedly issued a warning about the state of supply and demand on the real estate market. While the segment of affordable housing in high demand, the supply is very limited, and luxury apartments are massive supply while demand is limited. Therefore, the association concerned if the apartment supply continues to increase will lead to instability in the real estate market.

From this fact, the Ministry of Construction said, though the real estate market is stable but in the future, something not confirmed by the imbalance in the real estate investment is still relatively unknown, especially with the high-end products such as real estate, resort.

Recognizing this problem, the Minister of Construction has issued Decision No. 1347 / QD-BXD dated 12/26/2016 approving the implementation plan, research and develop a project assessing the situation and forecast trends and propose solutions to the market, management mechanisms and policies to promote the real estate market healthy development. In particular, the Ministry of Home Affairs and Administration of the property market in collaboration with the University of National Economics, Institute for Economic Management Central and researchers, developing projects. It is expected that the scheme will be submitted to the Government in March 9/2017.

In addition, the Ministry of Construction is also actively coordinate with the State Bank to control credit plan for the property, especially the project, the high-end segment. At the same time, the Ministry in collaboration with the local control of development projects in the local high-end real estate.

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