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Minister Pham Hong Ha: Real estate market with positive sign of recovery and development

22:33 | 09/10/2020

(Construction) - According to Minister of Construction Pham Hong Ha, the current real estate shows positive signs of recovery and development if Vietnam can control COVID-19, not to spread and prolonged.

Companies in the real estate sector have restarted their businesses with new business strategies and plans relevant to the market.

Minister Pham Hong Ha.

Minister Pham Hong Ha has just submitted a report to the National Assembly on the implementation of the National Assembly's resolution on thematic supervision and questioned during the XIV term and a number of resolutions in the XIII term in the construction field.

According to the Minister, from 2015 up to now, coastal localities have allowed a number of businesses to invest in tourism and resort projects with tourist apartments (condotel) and tourist villas (resort). From the beginning of 2020, the COVID-19 pandemic has seriously and directly affected many industries and fields, including the real estate market. However, the market is not substantially affected, the effects are only local in some market factors and some real estate businesses.

 “The control of the real estate market is ineffective, especially at local state management organizations. In many localities, when detecting violations, they still have not resolutely handled, there is still lack of drastic action in the withdrawal of projects that are behind scheduled, projects that violate the provisions of law”, emphasized the Minister.

By Khanh Phuong

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