The Ministry of Construction reported on the real estate market in the first 6 months of 2019

According to a report by the Ministry of Construction, the amount of transactions and real estate prices in the first 6 months of 2019 currently had no major fluctuations.


The number of transactions and real estate prices did not fluctuate significantly in the first 6 months of 2019.


The Ministry of Construction received Official Letter No. 4576/NHNN-TTGSNH dated June 17, 2019 of the State Bank of Vietnam on the submission of the first 6 months report of 2019 according to the provisions of the Decision No. 1058/QD-TTg dated 19 June 2019. On July 7, 2017, the Prime Minister approved the Project "Restructuring the system of credit institutions associated with dealing with bad debts in the 2016-2020 period".

Within the scope of assigned functions and tasks, the Ministry of Construction summarizes the results of the project implementation evaluation as follows:


Monitor, synthesize and report to the Government and the Prime Minister on the situation of the real estate market in order to promptly grasp and give solutions to develop a stable and healthy market.


Quarterly, the Ministry of Construction reported on the real estate market situation during Government meetings. In 2019, the Ministry of Construction assigned the Department of Housing and Real Estate Market Management to develop and implement the Program and Action Plan of 2019, in which content was coordinated with related agencies to perform inspection and supervision of key localities in the implementation of housing development projects, urban projects, large-scale real estate projects, using large areas of land to promptly handle violations of the law in some localities: Dien Bien, Quang Ninh, Lam Dong...


The Ministry of Construction has completed the research of the project "Assessing the market situation, forecasting the medium-term trend, proposing solutions and mechanisms to promote a stable and healthy development of the real estate market" ; On April 23, 2019, the Prime Minister issued Directive No. 11/CT-TTg on a number of solutions to promote the healthy and effective development of the real estate market.


The Ministry of Construction completed the research and development of the project "Economic security in the field of housing and real estate market to ensure social security" and on June 24, 2019, the Ministry of Construction issued a Submission No. 126/TT-BXD for submission to the Prime Minister for consideration and signing for approval of the scheme.


The Ministry also continued to study the Draft Law on amendments and supplements to the Construction Law, the Housing Law, and the Law on Real Estate Business to report to the Government and Standing Committee of the National Assembly for consideration and submission to the National Assembly for comments.


Research, propose mechanisms, policies, regulatory documents related to the development and management of condetel, officetel and resort villas.
On June 4, 2019, the Ministry issued Document No. 1304/BXD-QLN to consult the Ministry of Justice and the Ministry of Culture, Sports and Tourism to formulate and issue a regulation on management and operation of officetel.


Continue to urge ministries, sectors and localities to build, complete and put into operation the information system on housing in the real estate market according to Decree No. 117/2015/ND-CP dated November 12, 2015.


Regarding the real estate market situation in the first 6 months of 2019, through summarized data reported by Vietnam Real Estate Brokers Association in the first quarter of 2019 in Hanoi, Ho Chi Minh City and some localities (Khanh Hoa, Quang Nam, Da Nang, Quang Ninh, Kien Giang ...) had 14,047 successful real estate transactions. Transactions accounting for a large proportion were still transactions on apartments and low-rise houses (accounting for 94% of the total number of successful transactions). The number of resort real estate (condotels, tourist villas) successfully traded in the first quarter of 2019 was 767 transactions (accounting for over 5% of the number of successful transactions).


Regarding real estate prices, according to a report of the Institute of Construction Economics, in the second quarter of 2019, real estate prices in Hanoi and Ho Chi Minh City fluctuated, but the amount of fluctuations was not large. Specifically, in Hanoi, the price of apartments increased by 0.16% compared to the first quarter of 2019 (of which, for high-end apartments, the price dropped by 0.13% compared to the first quarter of 2019, apartments mid-end price increased by about 0.33% compared to the first quarter of 2019, affordable apartments increased by 0.27% compared to the first quarter of 2019). For individual houses, the price increased by 0.96% compared to I/2019.


In Ho Chi Minh City, the price of apartments increased by 0.62% compared to the first quarter of 2019 (in which, for high-end apartments, the price increased by 0.67% compared to Q1/2019, mid-end apartments increased by 0.63% compared to Q1/2019, affordable apartments increased by 0, 55% compared to Q1/2019). For individual houses, the price increased by 2.70% compared to the first quarter of 2019.


Regarding lending to real estate investment and business, as reported by the State Bank of Vietnam in Official Letter No. 4312/NHNN-TD of June 6, 2019, credit for investment sector, real estate business in the first quarter of 2019 was VND 462,128 trillion (down 0.01% compared to the fourth quarter of 2018).


According to the Construction Newspaper