The Vietnam Tourism Real Estate Association (VnTPA) has sent a document to Mr. Phan Van Mai, Chairman of the People’s Committee of Ho Chi Minh City, proposing to organize a meeting between the city’s leadership and real estate investors, who are property buyers.
According to VnTPA, through observations, it has been noticed that over the years, both the Central and local governments have organized numerous conferences to rescue the real estate industry. However, the participants in these conferences have predominantly been sellers, banks, and project investors, rather than the ultimate buyers of real estate.
During these meetings, the Ho Chi Minh City Real Estate Association has also only invited sellers and provided support to them. Meanwhile, the market is still blocked mainly due to a lack of buying power, as final investors have lost confidence and faced too many risks with unsuitable products.
Proposing the leaders of Ho Chi Minh City People’s Committee to meet with real estate buyers