It is expected that by late 2022, real estate demands would continue to stay low and investors may be forced to lower prices to attract buyers.

Property developers are urged to strictly comply with current regulations on reserving 25% of their project area for social housing.

The real estate market is expected to heat up in the remainder of the year, thanks to the bright economic outlook, the Government’s push for major infrastructure projects, and high demands for housing.

The Hanoi Development Investment Fund has signed four MoUs to provide loans worth VND1.4 trillion (US$60 million) to property developers.

The Government’s focus on infrastructure development and the involvement of major property developers from the South would make the market more attractive.

Efforts to prevent property prices from rising have been left unfinished due to the low supplies of social housing and many projects remaining frozen on legal issues and complicated administrative procedures.

This year, Vietnam targets to welcome 65 million tourists, including five million from aboard, for revenue of VND440 trillion ($19.2 billion).