At the seminar `How is the real estate market after Covid-19` on June 11, many leading industry experts dissected the reasons why house prices did not decline as many people expected despite the impact of the pandemic.

Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA), commented that the real estate market was difficult 2 years ago, it is not necessary to wait for the pandemic to become difficult.

But by 2018, the market began to show signs of difficulty and the situation became more tense in 2019 when supply plummeted.

Chairman of HoREA said that the biggest difficulty facing the market is policy bottlenecks, leading to a scarcity of housing projects.

Covid-19 paralyzed direct sales channels in the real estate market due to social isolation to prevent epidemics.

Ho Chi Minh City real estate market.

At the discussion, Mr. Tran Quoc Dung, Deputy General Director of Hung Thinh Group, expressed frustration because overlapping laws, regulations, decrees and administrative procedures caused real estate to overcapitalize.

`If the project is built for a long time, after a few years, real estate prices will definitely increase. Real estate prices cannot decrease while input costs are too high. To revive the post-Covid-19 market, businesses

Dr. Su Ngoc Khuong, Senior Director of Investment Department of Savills Vietnam Company emphasized that real estate businesses can still manage financial difficulties through joint ventures and partnerships.

Mr. Nguyen Tan Hoang, CEO of Phu Hoang Land confirmed that tightened real estate regulations are causing many housing projects on the market to overcapitalize, forcing them to raise selling prices higher than before despite the impact of the pandemic.

Mr. Nguyen Trong Ninh, Director of the Department of Housing and Real Estate Market Management, admitted that overlapping legal procedures and laws and decrees related to the real estate market is real.