Low real estate transaction volume

In the third quarter of 2024, the total value of real estate transactions in An Giang province reached over 492 billion VND, including 21 apartments, 33 land plots, and 231 individual houses.

According to the An Giang Department of Construction's report on housing and the real estate market in the third quarter of 2024, based on incomplete data from various units, the real estate market in the province in the third quarter of 2024 has not yet seen significant changes, and the volume of transactions remains low.

The new urban area of ​​Tay Song Hau, Long Xuyen City, An Giang Province.

According to statistics from the An Giang Provincial Tax Department, in the third quarter of 2024, the total transaction value exceeded VND 492 billion (21 apartments, 33 land plots, and 231 individual houses for sale), higher than the first quarter of 2024 (VND 148 billion) and the second quarter (VND 366.5 billion). The product structure mainly consists of real estate projects in the form of subdividing land for sale or building houses for sale.

In particular, tourism and resort projects, as well as office projects, have not received much interest from investors in recent times.

According to the An Giang Department of Construction, in accordance with Decision No. 338/QD-TTg dated April 3, 2023, of the Prime Minister , An Giang province aims to complete 6,300 social housing units by 2030 (of which: 2,500 units by 2025 and 3,800 units by 2030). On May 22, 2024, the People's Committee of An Giang province issued Decision No. 824/QD-UBND approving the Social Housing Development Project in An Giang province until 2030.

Regarding the progress for the 2021-2025 period, to date, An Giang province has completed 1,809 units and is expected to launch sales for 98 units in 2024. Thus, by the end of 2024, An Giang province will have completed 1,907 units with a total floor area of ​​approximately 209,791 m2, achieving 77.05% of the assigned target.

In 2024, it is expected that 3 projects will commence construction, comprising approximately 780 units with a total floor area of ​​about 52,680 m2.

Thus, upon completion of the project, An Giang province will have essentially achieved its target of 2,500 houses by 2025, as stipulated in Decision No. 338/QD-TTg dated April 3, 2023, of the Prime Minister.

According to the An Giang Department of Construction, several real estate projects in the province are currently facing numerous difficulties and obstacles, specifically in determining financial obligations, land allocation procedures, and issuing land use right certificates.

Regarding funding, due to the unrecovered real estate market, developers have not been confident in investing in the 20% of land allocated for social housing, and therefore have not registered for or borrowed capital from the 120,000 billion VND program.

Source: https://baodautu.vn/batdongsan/an-giang-luong-giao-dich-bat-dong-san-thap-d226289.html