Vietnam’s real estate market has exhibited positive signs in the second half of 2023 thanks to solutions adopted to gradually address difficulties and obstacles, according to the Ministry of Construction.

Demand for land and apartments has gradually recovered, with an increasing supply of new projects and new transactions, the ministry told a recent meeting reviewing its performance this year and discussing tasks for next year.

Challenges remain, however, in particular the limited supply of low-cost commercial housing and social housing.

As of the end of the third quarter, 42 commercial housing projects had been completed this year with 15,966 units, equal to just 46.15 per cent of the figure in the same period of 2022.

Five social housing projects were also completed, supplying 850 units.

The total number of housing transactions in the period was estimated at 324,378, equal to 41.29 per cent of the figure in the same period last year.