HCMC – Hanoi City and HCMC are intensifying efforts to resolve delays in hundreds of real estate projects, as legal and procedural challenges continue to hinder development, reported the local media.
In the first nine months of this year, Hanoi City cleared obstacles for 158 projects and is addressing 246 more, according to the People’s Committee of Hanoi City. Similarly, HCMC resolved issues for 77 projects and is working on 143 others.
The Ministry of Construction issued 44 directives during this period, offering guidance on planning, affordable housing, old apartment renovations, construction permits, and project transfers.
Hanoi City reported 404 stalled housing projects, citing delays in land clearance, legal processes, and planning as key obstacles. Some projects, including those initiated over a decade ago, remain unfinished.
In HCMC, 220 housing projects face challenges, with 72 flagged by the Government and 148 raised by the real estate association. During the third quarter, the city approved investment for three projects, saw 37 under development, and completed four.
Industry experts warn that unresolved legal issues are aggravating housing supply shortages and driving property prices higher. In Hanoi City, condominium and land prices have surged by 40%-50% over the past three years, according to market data.
The Vietnam National Real Estate Association cautioned that prolonged delays could further strain housing affordability, particularly for low-income households, if legal bottlenecks are not addressed.
