Total outstanding loans from banks in the real estate market were estimated at over VND2,280 trillion (US$98.32 billion), up 10.19% against late 2021. The State Bank of Vietnam (SBV) would continue to tighten credit in risky fields, including the real estate and stock market, according to the central bank's Governor Nguyen Thi Hong. Investors look at a real estate project in Hanoi. Photo: Pham Hung In a report submitted to the National Assembly, Hong noted an estimated 94% of the outstanding loans in the real estate sector are of mid-and long-term lending, but those mobilized from the bank are short-term. "Differences in the maturity period and interest rates of the financing sources mean loans in this field are of high risk to the banking sector," said Hong, while calling for strict measures to supervise the capital inflow. Such a trend has been made worse given the high volatile nature of the real estate market and acts of price manipulation. "All of these factors have caused difficulties for credit institutions to assess the mortgage," she said. Data from the SBV revealed as of late April, total outstanding bank loans in the real estate market were estimated at over VND2,280 trillion (US$98.32… Read full this story
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