Around 80% of construction companies reported profits last year, according to the Ministry of Construction.

Real estate companies complained that 2012 was a very difficult year, but initial reports made the situation appear worse than reality.

The Ministry of Construction said 42,197 enterprises reported profits in 2012, compared to 33,362 in 2011. Meanwhile, only 15,296 reported losses in 2012, roughly 2,000 more than 2011.

The number of profit-making companies in 2012 is more than four folds against that of loss-making firms.

Despite the majority of construction companies reporting profits in 2012, real estate prices only decreased by an average of 5% over the year according to the Minister of Construction, Trinh Dinh Dung.

He made this announcement at the recent National Assembly discussion. According to the minister, the apartment segment saw the sharpest fall of between 15-29%.

During the year, many real estate associations sought government support to aid the sector.

A number of real estate investors have been seeking to change their commercial housing projects into social projects such as hospitals or low-income housing.

In the context of current difficulties in the property market, commercial housing projects are finding difficulties in attracting customers. On the other hand there is high demand for affordable housing. Still, the Ministry of Construction is hesitant to grant permission for every project to change its initial purpose.