Mr. Le Hoang Chau:

Evaluating the Ho Chi Minh City Real Estate Market in 2019, Mr. Le Hoang Chau said that there is no risk of crisis, still in the cycle of recovery and growth. The current difficult market is temporary. The real estate market in the whole country in general and Ho Chi Minh City in particular has experienced a turbulent year, besides difficulties, the market also appeared positive bright spots. On the occasion of the New Year 2020, Mr. Le Hoang Chau - President of Ho Chi Minh City Real Estate Association (HoREA), shared with VietNamNet about the overview of the City Real Estate Market last year as well as comments in 2020. . Hello, how do you evaluate the real estate market in Ho Chi Minh City last time? Mr. Le Hoang Chau: In the last 2 years, I noticed that the HCMC real estate market has sharply decreased the supply of projects as well as housing products. Many projects are "frozen" due to failure to carry out construction investment procedures or to stop implementation. The shortage of housing products, especially affordable commercial housing apartments and social housing, leads to an increase in housing prices, making the majority of people with low and middle income in urban areas. It is more difficult to create houses. The gloomy of the market is expressed by specific figures, such as the first 9 months of 2019, the whole city has only one housing project approved for investment policy and even no projects are public. Get the investor. There are 32 future housing projects eligible for capital mobilization, down nearly 31% from the previous year. So, is the market at risk of crisis, sir? Mr. Le Hoang Chau: I think that the market is not bad at the moment, not at risk of crisis because it is still in the recovery and growth cycle after the "freezing" period of 2011 - 2013. Ho Chi Minh City Food Market is in a difficult situation at present, which is temporary, specific, abnormal, which is caused by problems and conflicts of some legal regulations and enforcement. law. However, due to the "lag" of the real estate market, if there are no effective measures to deal with current bottlenecks and bottlenecks, the market size decline will continue in the near future, leading to to businesses that are in trouble, may even risk bankruptcy. Mr. Le Hoang Chau, Chairman of HCMC Real Estate Association. In your opinion, what are the biggest difficulties of the HCMC real estate market today? Mr. Le Hoang Chau: I realize that the biggest difficulty of the city real estate market today is that many housing projects are congested, resulting in a shortage of project supply, lack of product supply, especially lack of affordable housing, affordable housing, social housing. The imbalance of "supply-demand" due to too little supply while the demand is too high makes the price of houses easily pushed up, speculation and surfing investment appear.