|
Talking to Tuoi Tre newspaper on 03 May, the SBV Deputy Governor Dao Minh Tu said, “Credit to real estate has been strictly controlled, and it may be even tighter in the upcoming time. However, the loan still prioritizes serving the needs of people buying houses and land to live in; restricting speculative purposes”.
We will look back at the SBV’s orientation through recent statistics. Over the past years, real estate credit growth has gradually decreased from 26.8% in 2018 to about 12.0% in the pandemic period (2020-21). Because credit growth of this sector is lower than the overall credit growth of the economy, the size of loans for the real estate sector has decreased from 28% (in the period 2010-11) to about 20% of the total outstanding loans by the end of 2021. In the first three months of 2022, real estate loans is estimated at VND2.2 trillion, equivalent to 20.2% of the total outstanding loans. Compared to the end of 2021, real estate credit growth is 7.9%, higher thsan the credit growth of the banking system at 5.0%. In terms of absolute numbers, with more than VND526 trillion of capital injected into the economy, more than 30% went to the real estate sector.
|