The association said that the real estate market normally has about 300,000 - 400,000 practising brokers. After the 2023 Real Estate Business Law officially took effect, individual brokers must have certificates.
Three major new laws related to property ownership, recently approved by the National Assembly, are expected to bring about changes to the market, said business insiders and experts.
The government considers the property market an important pillar of the economy and measures have been underway to address the sector''s difficulties in recent years, said policymakers and industry insiders during a conference on credit policy in Hà Nội yesterday.
In the most optimistic scenario, the market will face at least two more challenging quarters before entering a recovery phase in the second half of 2024, experts have predicted.
The global economic downturn and inflation, credit restrictions, limited supply of properties, and rising prices are major challenges for developers, Nguyen Hong Thang, deputy director of R&D at DKRA Group, said.