New real estate firms up sharply in Q1

Illustrative photo. (Source: VNA)

Hanoi (VNA) – The number of newly-established realestate companies surged 47.2 percent in the first quarter of 2022 on the backof the reviving property market after COVID-19 outbreaks, according to theMinistry of Planning and Investment.

Firms resuming operation totalled 845 during the period, up92 percent year-on-year.

Provided with post-COVID-19 growth momentum, these companiesare accelerating progress of projects and expanding land banks to quickly revitalizein the early months of the year, a source from the Ministry of Constructionsaid.

The property market has come back to life after months ofstagnancy caused by COVID-19, with an increasing number of home searchers andtransactions.

Statistics from the Ministry of Construction shows thatabout 800 real estate exchanges have reactivated their services, doubling theprevious quarter’s figure. The exchanges have applied high technology inmanaging information, transaction, payment, sales and marketing./.

VNA