Supervise real estate lending to avoid speculation: PM – VnExpress International


By Anh Minh  &nbspApril 19, 2021 | 01:37 pm GMT+7
Supervise real estate lending to avoid speculation: PM  Supervise real estate lending to avoid speculation: PM - VnExpress International PicThuThiemTranQuynh8882160612 4090 4928 1618809399

Thu Thiem Urban Area in District 2, Ho Chi Minh City. Photo by VnExpress/Quynh Tran.


Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam to supervise capital flow into the real estate sector to prevent speculation.

As of mid-March, outstanding loans in real estate rose 2.13 percent year-on-year, higher than the overall figure of 2.04 percent for the economy.

State Bank Governor Nguyen Thi Hong said that the bank has used some tools to control credit risks in the real estate sector, including reducing the ratio of short-term loans being used for mid- and long-term loans and applying a high risk adjustment coefficient to such loans.

The state bank has been asking commercial banks to focus lending on manufacturing as per the government’s direction, she said.

Experts have been warning of speculators pushing up real estate prices by spreading rumors about development plans in some places like Hanoi, Ha Long Town and Bac Ninh Province.

Land prices in many places have risen by an average of 10 percent in the last two months, and in some places they have even doubled or tripled, according to the Vietnam Association of Realtors.

Official say that reasons for the surging capital inflow into the real estate and stock markets is low deposit interest rates and poor land administration and planning.

e.VnExpress

What's Your Reaction?

Cry Cry
0
Cry
Cute Cute
0
Cute
Damn Damn
0
Damn
Dislike Dislike
0
Dislike
Like Like
0
Like
Lol Lol
0
Lol
Love Love
0
Love
Win Win
0
Win
WTF WTF
0
WTF

Comments 0

Your email address will not be published. Required fields are marked *

Supervise real estate lending to avoid speculation: PM – VnExpress International

log in

Become a part of our community!

reset password

Back to
log in
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Open List
Open List
Ranked List
Ranked List
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF