Binh Duong tackling difficulties facing real estate
Overlapping regulations causing project delays.
The Binh Duong Provincial People’s Committee has issued a directive on measures to tackle difficulties facing the real estate market and promoting housing development.
In 2022 and the opening months of 2023, the real estate market and the operations of property companies around the country faced a range of difficulties and risks during project implementation, according to the People’s Committee in the southern province.
Overlapping regulations relating to housing and real estate investment is a key reason behind prolonged procedures and project delays, affecting the efficiency of projects, it said.
There are also differences between construction plans and urban planning that were often made years ago and have failed to match changes in socio-economic development, thus making projects less attractive to investors.
Real estate businesses also find it hard to gain access to credit and investment funds.
To help remove the obstacles facing the market and businesses, the People’s Committee urged its taskforce to review and promptly deal with difficulties in real estate projects and examine and propose solutions to address overlapping regulations hindering project implementation.
The taskforce was also instructed to take measures to accelerate the construction of social housing projects and housing for workers.
