HANOI, Oct. 20 (Xinhua) -- Vietnam's real estate market saw a significant surge in the third quarter of this year, with 59,559 new businesses entering and re-entering the market during the period, Vietnam News Agency reported Friday, citing the Ministry of Construction.
The increase, which represented a rise of 18 percent year on year, has so far marked the highest record for a third quarter.
In the first nine months, the country's construction industry recorded a growth rate of about 6.17 percent year on year.
The number of commercial housing projects completed in the third quarter increased by 300 percent compared to the previous quarter.
The Q3 prices of apartments and individual houses in big urban areas such as capital city Hanoi and southern Ho Chi Minh City continued to increase, according to the ministry.
Deputy Minister of Construction Nguyen Van Sinh said policies to take effect in the coming time will gain the trust of businesses, promising positive development of the country's real estate market.
For the remainder of 2023, the ministry is set to prioritize the development of the real estate market with a focus on safety, sustainability, and housing for low-income earners. ■
