New real estate firms up sharply in Q1

The number of newly-established real estate companies surged 47.2 percent in the first quarter of 2022 on the back of the reviving property market after COVID-19 outbreaks, according to the Ministry of Planning and Investment.
New real estate firms up sharply in Q1
Illustrative photo. (Photo: VNA)

Firms resuming operation totalled 845 during the period, up 92 percent year-on-year.

Provided with post-COVID-19 growth momentum, these companies are accelerating progress of projects and expanding land banks to quickly revitalize in the early months of the year, a source from the Ministry of Construction said.

The property market has come back to life after months of stagnancy caused by COVID-19, with an increasing number of home searchers and transactions.

Statistics from the Ministry of Construction shows that about 800 real estate exchanges have reactivated their services, doubling the previous quarter’s figure. The exchanges have applied high technology in managing information, transaction, payment, sales and marketing.

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(Source: VNA)