Hue real estate achieves total revenue of more than 1,623 billion VND in 2024

According to the Department of Construction of Hue City, the real estate market in Hue City in the fourth quarter of 2024 and the whole year of 2024 is still generally quiet, with no signs of improvement, and real estate transactions are still slow.

Hue to achieve total real estate revenue of over VND 1,623 billion in 2024

According to the Department of Construction of Hue City, the real estate market in Hue City in the fourth quarter of 2024 and the whole year of 2024 is still generally quiet, showing no signs of improvement, and real estate transactions are still slow.

Accordingly, the application of the 2024 Land Law initially related to land price lists has somewhat affected real estate transactions.

Regarding transaction volume, in the fourth quarter of 2024, the real estate transaction volume in Hue city reached 30 individual housing products, earning VND 215.1 billion (a decrease of nearly VND 65 billion compared to the third quarter of 2024).

In 2024, Hue earned more than VND 1,623 billion from activities related to real estate transactions. However, the real estate inventory of projects eligible for transaction is still 840 units.

Regarding the implementation of social housing investment and the implementation of the 120 trillion VND credit package for social housing loans, the People's Committee of Hue City has approved investment in 11 social housing projects, of which a number of projects have been and are under construction, including: 4 independent projects have so far been completed and handed over apartments to customers with 1,764 apartments out of a total of 1,773 apartments.

Although there are many difficulties, Hue real estate market still has a lot of potential for development.

There are 5 social housing projects using 20% land fund in commercial projects, urban areas with a total land area of about 12,282 hectares. Currently, only 1 project is under construction, the remaining projects are in the project preparation stage and land allocation procedures.

According to Mr. Hoang Minh Khang, Deputy Director of the Department of Construction of Hue City, in recent times, although the Government has taken drastic actions to remove legal obstacles for a series of projects, the State Bank has lowered operating interest rates, continuously reduced deposit interest rates to lower lending interest rates..., these policies have not really penetrated the real estate market.

“Currently, some real estate projects in the city still face some difficulties and problems such as: legal problems including determining financial obligations that investors must pay, procedures for land allocation, land lease and granting land use right certificates, and confirming eligibility to sell future housing. In addition, difficulties in capital sources (bank credit capital, corporate bond capital, capital from the stock market and capital mobilized from customers) have led to some businesses lacking capital having to delay or temporarily suspend project implementation,” Mr. Khang informed.

Source: https://baodautu.vn/batdongsan/hue-dat-tong-doanh-thu-bat-dong-san-hon-1623-ty-dong-trong-nam-2024-d241059.html