Monetary and banking policies facilitate real estate firms' access to capital flows.

DNHN - Additionally, the relaxation of monetary policy by the State Bank and the reduction of lending interest rates by commercial banks have contributed to a more favorable environment for real estate businesses

Positive indicators have been observed in the Ho Chi Minh City real estate market during the third quarter of 2023, according to a newly released report from the City People's Committee. This signifies a modest resurgence after a phase of significant repercussions stemming from the preceding crisis, in contrast to the preceding period in 2022.

As per the report, several significant factors have made a positive contribution to this recovery. The political system and the city government have prioritized the resolution of legal issues that arise in the course of each particular project, while also encouraging cross-sectoral collaboration to surmount the varied challenges that each project encounters.

Furthermore, the relaxation of monetary policy by the State Bank and the reduction of lending interest rates by commercial banks have contributed to a more advantageous climate for enterprises functioning within the real estate industry, thereby assisting said enterprises. The industry has improved access to capital.

The report further underscores the significance of public investment disbursement, particularly in facilitating the progress of the municipality and eliminating constraints in infrastructure about transportation, culture, education, and healthcare, as well as society at large. Even though third-quarter disbursement progress is below the predetermined goal, this significantly contributes to the real estate market gaining momentum shortly.

Based on these encouraging results, it is anticipated that the real estate market recovery in Ho Chi Minh City will continue to strengthen through 2024, which instills optimism among industry businesses and the socioeconomic community at large.

PV (t/h)