HCMC – New registrations for real estate businesses in Vietnam dropped 2.6% in the first 11 months of 2024 against the same period last year, official data showed.
According to the General Statistics Office, more than 4,240 companies were established during this time. Real estate businesses ranked sixth in new registrations among seven major sectors, ahead of only the utilities sector, which recorded 1,092 registrations. Wholesale, retail, and vehicle repair businesses led with more than 59,900 registrations.
The number of dissolved real estate firms during this period totaled 1,137, a 1% decline against the year earlier. The sector ranked third in dissolutions among the seven sectors tracked, reflecting ongoing challenges.
The Vietnam National Real Estate Association (VNREA) noted that the implementation of the Land Law, Housing Law, and Real Estate Business Law in August has contributed to early signs of market recovery. However, legal and financial hurdles persist, including difficulties in land valuation, land-use fee calculation, site clearance, and access to funding.
Experts predict a better outlook for 2025 as new regulations and guidance take effect, potentially accelerating project development and sales. Many developers are expected to increase project launches, which help improve revenue and cash flow.
