What “leverage” helps the real estate market recover after the pandemic?

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The 4th outbreak of the Covid-19 pandemic with complicated developments caused the economy in general and real estate in particular to be severely impacted and damaged. The policy mechanism is considered one of the “levers” for the real estate market to recover after the pandemic. So what policies have been enacted to promote the market?

Facing the heavy effects of the Covid-19 pandemic on the development of the economy in general and businesses in particular, the Ministry of Construction said that in the third quarter of 2021, the State has given drastic instructions. passed many resolutions and decisions such as Decision 27/2021/QD-TTg dated September 25, 2021 of the Prime Minister on the reduction of land rent in 2021 for subjects affected by the Covid-19 epidemic. 19.

In addition, the Ministry of Construction has also issued many new legal documents in the field of construction and real estate such as:

On August 16, 2021, the Ministry of Construction issued Circular No. 09/2021/TT-BXD guiding the implementation of a number of contents of Decree No. 100/2015/ND-CP dated October 20, 2015. of the Government on development and management of social housing and Decree No. 49/2021/ND-CP dated April 1, 2021 of the Government amending and supplementing a number of articles of Decree No. 100/2015/ND -CP October 20, 2015 of the Government on development and management of social housing. Accordingly, this Circular guides the implementation of a number of contents on: conditions and criteria for selecting investors in social housing construction investment projects; method of determining the selling price, rental price, and rental-purchase price of social housing; sample papers proving the subjects and conditions for enjoying the social housing support policy; Sample contract of sale, lease, and lease purchase of social housing.

On August 26, 2021, the Ministry of Construction issued the consolidation document No. 04/VBHN-BXD on the consolidation of the Circular guiding the implementation of a number of contents of the Housing Law and Decree No. 99/2015/ND- The Government’s CP dated October 20, 2015 details and guides the implementation of a number of articles of the Housing Law. This Circular guides the implementation of a number of contents on housing development, housing management and use, housing transactions, home ownership, and state management of housing in Vinhome central park for rent as prescribed in the Law on Housing 2014. and Decree No. 99/2015/ND-CP dated October 20, 2015 of the Government detailing and guiding the implementation of a number of articles of the Law on Housing.

On August 31, 2021, the Ministry of Construction issued Circular No. 11/2021/TT-BXD guiding some contents of determining and managing construction investment costs. Accordingly, this Circular guides a number of contents to determine and manage construction investment costs, including: preliminary total construction investment, total construction investment, work construction estimate, cost estimate bidding packages, construction prices, work construction prices, construction price indexes, construction investment capital rates, conversion of construction investment capital, construction investment consulting costs.

On September 7, 2021, the Ministry of Construction issued the consolidation document No. 05/VBHN-BXD on the consolidation of the Circular promulgating the Regulation on management and use of apartment buildings. Accordingly, this Regulation applies to apartment buildings with residential purposes and mixed-use condominiums used for living and for other purposes (including residential apartments, facilities, etc.). tourist accommodation establishments, service and commercial buildings, offices and other constructions) as prescribed in the Law on Housing 2014, including: Commercial apartment buildings; Social apartment buildings; Apartment buildings for resettlement; The old state-owned apartment buildings have been renovated and rebuilt; The apartment building is used as official residence.

The above positive information is like sharing difficulties with businesses and solving problems in the market. Therefore, the real estate market that is being heavily affected by the Covid-19 pandemic is expected to receive new winds in the near future.

Besides policy, what factors will affect the real estate market in 2022? What will the real estate market look like in 2022? What type and segment will take the throne? Real estate investors and buyers need to pay attention… This will also be the information shared at the Vietnam Real Estate Conference – VRES 2021 organized by Batdongsan.com.vn.

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