Thanks to legal reforms (especially in the field of land use), up to 80% of previously frozen projects can be unblocked, which will dramatically increase the volume of new housing.
A new construction boom is expected to ease pressure on prices, and a repeat of the price boom is unlikely. A mild price correction in the primary market is possible.
High mortgage rates (about 11%) restrain speculative demand, leaving mostly end-users on the market.
At the same time, the government relies on the real estate and infrastructure sectors to grow the economy, increasing government investments.
Developers with clean land rights and high-quality projects will benefit. Low-quality or overpriced properties are already facing falling demand.
A transition from a market of scarcity to a market with growing supply is expected, which will stabilize prices and make growth more manageable and sustainable.
Source: Tuoitre.vn
