As of H1 of 2022, Real Estate & Construction Growth Slowed to 2.5%, and 3% Respectively

• 22 July 2022
• Local News
• 1072 Views

As of the first half of 2022, the real estate sector has grown significantly, but at a slow pace of 2.5% due to the slowdown in high-end real estate sale-purchase activity, especially condominiums and apartments, according to the report on the results of the implementation of the budget for the H1 of the implementation of the law on finance for management in 2022.

Meanwhile, the activity of sale-purchase/renting of affordable, mid-range real estate, especially housing, is expected to continue.

In fact, in the first four months of 2022, the number of home sales (apartments and villas) increased by 6.7% 2022.

The construction sector also grew at a slower pace of 3.0% due to the continued decline in construction activity for tourism and trade, while affordable, mid-range housing construction continued to grow at a slower pace.

In fact, based on the data for the first five months of the year, the number of construction projects approved for trade and tourism decreased by -36.1% and -20.0%, respectively.

However, the number of housing construction activities, especially apartment, and villa construction increased by 183.2% and 60.4% respectively in the first 5 months of 2022.

 

• Analysis