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Many real estate exchanges face difficulties

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Due to Covid-19, many real estate exchanges have had no revenue, the salary fund is increasingly depleted, forced to cut staff.

Through a survey of 500 trading floors with a workforce of approximately 75,000 people, the Vietnam Real Estate Brokers Association pointed out the industry’s major difficulties due to Covid-19.

As noted by the Association, 28% of exchanges face the risk of dissolution or bankruptcy, 32% of exchanges are struggling to maintain and need support policies. The rest have resistance, but the resistance is not high. The association emphasized, if the exchanges still have to maintain 1-2 more months to fight the epidemic, the rate of the floor at risk of bankruptcy will continue to increase.

Because more than 80% of exchanges said that there was no revenue or very low revenue in the past time. 78% of the floor was forced to cut staff or give workers unpaid leave. 28% of the floor said that the salary fund was exhausted, there was no money left to pay employees…

In addition, the Association said, exchanges are also facing the risk of contract compensation or joint responsibility or risk of losing deposit, being fined for not complying with schedule commitments. They are also likely to be fined or handled because they do not have money to pay taxes, have no money to pay social insurance, etc. due to lack of revenue; Or the landlord demanded the premises before the due date, cut off the water, cut off the electricity … due to late payment, no money to pay.

Despite many difficulties, businesses reported that most of them do not benefit from state policies. For example, 75% of enterprises are not allowed to extend the tax payment time or reduce the insurance premium for occupational accidents and diseases; 85% cannot stop paying to the retirement and survivorship fund.

The reason why these exchanges are not entitled is mostly due to not being guided, not being able to receive documents.

Faced with this situation, the Vietnam Real Estate Brokers Association has made 5 proposals to relevant authorities to remove difficulties and support brokerage floors and transactions during Covid-19.

Firstly, the Association proposed to add a group of real estate industries, including the real estate brokerage service industry, which is fully entitled to support policies from the state’s policies.

The second is to allow exchanges to postpone and extend the deadline for paying taxes, social insurance… so that businesses can have money to support labor as well as accompany the government in the process. anti-epidemic.

The third is to soon issue a resolution on tax exemption and reduction to support people and businesses affected by Covid-19. In particular, a 50% reduction in income tax for real estate trading floor businesses arising from May to the end of 2021 to facilitate early recovery of production and business.

Fourth, there is a policy for banks to reduce the repayment schedule, adjust interest rates reasonably, help businesses reduce cost pressure and cope with difficulties during the time affected by Covid 19.

Fifthly, promote faster and stronger the program to adjust and remove obstacles in the legal process for investment procedures in order to improve the settlement of administrative procedures for real estate investment projects, increasing the supply of investors. market and stimulate investment activities for the whole society.

In addition, in order to accompany and support real estate exchanges and brokers, the Association also suggests project owners to support, facilitate, and not penalize contracts if the exchanges do not comply with their commitments to progress. sales due to social distancing. Units and individuals that rent out premises can support part of the house rent, or delay the payment of rent during the time of social distancing.

Duc Minh

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