Record number of firms enter, return to real estate market in Q3: Ministry

Illustrative image (Source: VNA)

Hanoi (VNA) – A total of 59,559 businesses entered and re-entered the real estate market in the third quarter of 2023, a record number for the period, which represented a rise of 18% year on year, according to head of the Ministry of Construction (MoC)’s Office Dau Minh Thanh.

Thanh attributed the result to the Government, ministries and sectors’ efforts to remove difficulties for the real estate sector.

To date, an MoC’s working group for removing obstacles facing the real estate market have received 130 reports from localities, businesses, associations and people on difficulties they are facing related to 183 real property projects across the country, the official said at a press conference on October 19. Currently, the working group has responded to 123 reports, he said.

MoC Deputy Minister Nguyen Van Sinh said that the building and completion of institution has been one of the focal tasks of the ministry. The ministry has basically completed the draft Law on Housing and Law on Real Estate Business, which will be submitted to the National Assembly during the sixth session in late October, said Sinh.

At the same time, the ministry has worked with localities to implement planning, which will serve as the basis for the approval of investment projects serving socio-economic development, the official added./.

VNA