Real estate credit under control
PolicyOutstanding loans for the real estate sector grew by 8.8% last year, below the banking sector’s credit growth of 13.7%, said Nguyen Quoc Hung, director of the Credit Department of the State Bank of Vietnam.
Vietnam in need of tightening credit in property loans Deputy Prime Minister
PolicyThe real estate sector remains highly risky, so the Government has required the State Bank of Vietnam to report quarterly in case of property developers with outstanding loans of over VND5 trillion (US$215.22 million).
Real estate loans make up 1/5 of total outstanding loans in Vietnam
InvestmentThe 14.58% growth rate is higher than the average credit growth of the economy.
