According to Gibran Bukhari, Sales Director of Masterise Home, currently, customers and investors are tending to wait and listen, but in fact this is the right time to buy rather than wait. .
Difficulties are also opportunities for the real estate market
As an important component of the economy, the real estate market is also facing great challenges, especially cash flow difficulties and legal bottlenecks that reduce customer confidence and business operations. stability and sustainability of market members. With the role of output of many production and business sectors and an essential infrastructure for key economic sectors such as industry, tourism, and services, the downturn of the real estate market is one of one of the important reasons for the overall economic slowdown.
Sharing about the difficulties of businesses, at the Workshop on Real Estate Troubleshooting - Promoting Growth Workshop Mr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association said, in 2011-2013 the real estate market There was a crisis in real estate and there was a lot of goods but they could not be absorbed into the market. At this time, on the contrary, there is too little source of goods, uneven segments, lack of products suitable for the market... All these problems stem from the legal system, policies...
The government has noticed the problem and started to take action to deal with it and find solutions. With regard to capital, there are support packages..., corporate bonds have problems with Decree 65, Decree 08. Capital is available, clearly oriented to social housing products... but the last fundamental bottleneck is The last thing to deal with is the legal, how to get the projects approved, to participate in the market... Only when this problem is solved, the investment projects can solve the basic stories.
To thoroughly solve the current market problem, the President of the Vietnam Real Estate Brokers Association proposed:
First, process policies faster and in more detail, especially with social housing. During this period, it is this product that will trigger better trading in the market, which is experiencing a severe lack of trading. With the right product, the trading index will increase, the reels will be activated and stable again.
Secondly, to develop and soon issue regulations on the process of handling documents and procedures for investors, including the stages of project transfer, bidding and auction, approving land prices, selecting investors. investment… These are the most entangled problems according to our statistics.
For example, if the land price is not approved, the construction permit will not be granted, the project will be lying in wait. In particular, project transfer is an issue that is expected to be resolved soon. Businesses are much weakened after 2 years of the pandemic, cannot access capital, need to transfer projects to capable investors, thereby getting rid of debt and getting new capital... But the regulation is that they must have a new red book. transfer, many new projects just cleared the ground, to get the red book still needs many years...
“In my opinion, it is necessary to have a short and open decree to transfer projects, especially projects that have been almost finished… to accelerate the introduction of new projects into the market, and to create a supply of goods. ..."- Mr. Nguyen Van Dinh shared.
Third, businesses must structure and restructure to reduce production and business costs, not only to survive but to reduce product costs.
Talking more about the difficulties of businesses, Mr. Vuong Duy Dung, Deputy Director of the Housing and Real Estate Market Management Department, Ministry of Construction said, difficulties and obstacles of the market and the operation of real estate businesses. Property poses a lot of tasks for the Government, state management agencies, local authorities and also the tasks of businesses.
In recent times, the Government and the Prime Minister have made drastic instructions,
Specifically, assigning tasks to local ministries and sectors to implement many solutions to remove problems for the market. We have seen many solutions implemented with concrete results and positive impact on the market. At this moment, the Government is submitting to the National Assembly to amend 3 very important policies: Law on Land, Law on Housing and Law on Real Estate Business.
Contents such as the policy on the transfer of real estate projects and many other contents have been amended and supplemented, the National Assembly basically agreed and gave some additional comments for the Government to amend and study. submitted to the National Assembly in the next meeting in May.
“For investors, I agree with the opinions that this time has many difficulties, but it is also an opportunity to adjust and restructure activities accordingly, self-balancing. The market will have certain filters and options for market participants, such as brokers, suppliers, contractors, consultants, etc. Difficulties and challenges always accompany opportunities for people. has the ability to overcome "- Deputy Director of Housing and Real Estate Market Management Department said.
Customers are having the mentality of waiting and waiting
In order to solve difficulties and remove obstacles for businesses and projects, at the seminar, Mr. Phan Duc Hieu, Standing Member of the Economic Committee of the National Assembly, said that it is necessary to focus on 2 issues. Firstly, it is necessary to solve projects that are facing legal problems and fall into a backlog. This is the most important issue, if it is prioritized, it will have a spillover effect.
Second, if the projects are slowing down because the procedures are not suitable and require faster, it is necessary to simplify the duplicate and overlapping policies to save time. The 3 Laws will be revised soon, but definitely need more time. Therefore, additional regulations can be added to increase market opportunities.
"I strongly agree with Deputy Prime Minister Tran Hong Ha's point of view that if you get stuck in a circular, you can fix a circular, one law amends many laws and one decree amends many decrees," shared Mr. Phan Duc Hieu.
In the near future, in the process of amending related Laws, according to Mr. Phan Duc Hieu, we will build in the shape of a pyramid, a Law with many circulars and decrees, but I think it should be built in the form of an inverted pyramid. That is, a circular or decree can guide many Laws related to that issue.
Sales Manager Masterise Home The right time to buy real estate is better than waiting
Mr. Gibran Bukhari, Sales Director of Masterise Home.
Analyzing the market more deeply, Mr. Gibran Bukhari, Sales Director of Masterise Home said, currently, customers and investors tend to wait and listen more. Real estate businesses, including Masterise Home, have taken measures to overcome difficulties, but customers seem to have lost their confidence. He assessed, this is the right time to buy rather than wait.
“I have been to many international markets and investors are always interested in the Vietnamese market, which shows that the potential of the market is very positive” – Sales Director Masterise Homes share.
Masterise Homes determines to "remove obstacles" by strengthening customers' trust with good progress and quality as committed. In March alone, Masterise Homes topped out 3 projects: Lumiere Boulevard, Lumiere Riverside and The Grand Hanoi. Besides, we are also about to open the apartment and model villa at the project so that customers can directly experience the quality of design, construction and finishing.
The second is to create motivation from value-added solution incentives for customers, so that the products they buy value always increase over time.
For example, a leisurely payment policy, buying an apartment that is about to be handed over but not worrying about urgent payment, or a commitment package to rent a shophouse. The Global City, or interior finishing support package at Grand Marina Saigon.
Third is to expand the scope of business to the international market. It is a fact that contrary to domestic customers, foreign customers have strong belief in the potential of Vietnamese real estate. Recently, a report by Knight Frank published shows that Vietnam is in the top 5 destinations of Singaporean investors who own overseas real estate. Therefore, we are continuing to promote sales activities in foreign markets, and exciting transactions in international markets also create confidence for domestic customers.