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The difficulties in the real estate sector may have contributed to Vietnam's lower-than-expected GDP growth in the first quarter (3.32%).

The focus is on the construction of Ring Road 4 and real estate projects in the city.

A cross-functional team will be set up to work on improving the prospects of the local real estate market.

Real estate projects that comply with the law, have positive sales prospects and viable repayment plans will have easier access to credit.

Solutions for the market should follow the law of supply and demand.

Hospitality real estate is a worth-watching segment in 2023, as Vietnam strives to capitalize on the rebound of travel and leisure needs from domestic and international tourists post-pandemic.

Vietnam's real estate market continues to show strong appeal to foreign investors despite global economic difficulties.

The main objective for Vietnam in 2023 remains to ensure stable macroeconomic fundamentals, contain inflation, and boost growth.

The recovery process may start from the third quarter of 2023 onwards.

The prime minister called for joint efforts from the authorities and businesses to help the real estate market prevail over current woes and stay on a healthy development path.

In recent months, the market has experienced a significant decline in transactions, as many projects have not been able to proceed due to lack of capital.

The lack of mid-and long-term investment in the real estate market and ambiguous regulations related transactions are hampering its healthy development.

Such measures would help minimize the risk of money laundering and ensure transparency.

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.

Vietnam will not sacrifice social advancement and equality in the pursuit of mere economic growth.

The credit quality of real estate firms is at a good level with financial leverage below 1.5x.