The Real Estate Information Centre (REIC) explained that Mortgage Control Easing (LTV) is a financial measure that stimulates groups of citizens with purchasing power who will pay their mortgages in the future. Thus, the government plans to implement the market supply of more than 283,500 housing units.
Housing development in 2022
The condominium market is being revived by buyers who want to live in the city and travel. In 2021, the condominium market had negative indicators of -30% compared to the previous year. In 2022, it is expected to grow by 10-15%, but the overall picture is still negative compared to the pre-crisis period.
A recovery that returns to positive levels is expected in 2023 when high- and middle-income foreign buyers will return to the market. As for the construction of apartments, it will take three years to restore.