Ho Chi Minh City tightens loans for high-class real estate, tourism and resorts

The inspection and supervision agency of the State Bank of Vietnam, Ho Chi Minh City branch, has just requested credit institutions in the area to implement the Prime Minister’s comments on development. real estate market stable, healthy city.

Accordingly, credit institutions are requested to strictly manage the credit granting situation to the real estate sector, and to transfer money collected from real estate abroad. Implement flexible credit policy to meet people’s real housing needs.

In addition, banks need to “limit lending to high-end real estate investment, tourism, and speculation”. Credit policies of banks need to be flexible to meet people’s real housing needs.

Real estate credit currently accounts for about 18-20% of the total outstanding loans of the economy, equivalent to 2 million billion VND. Lending growth in this sector also gradually cooled down, from over 26% in 2018, down to 12% in 2021.

With the capital flow for the real estate market showing signs of increasing, over the past time, the Government and the State Bank have issued instructions on controlling capital flows into this sector from credit and bond channels. .

In April, the State Bank also asked commercial banks to strengthen control over credit grants to borrowers to participate in land auctions and report back when detecting violations.

In addition, banks must strictly control the growth rate of credit balance and credit quality in potential risky areas and are affected by the financial crisis. Covid-19 epidemic.

Recently, Sacombank has requested branches and transaction offices not to grant credit to the real estate sector, except for loans to employees and relatives to buy, build and repair real estate for living. The application period will be until the end of June.

Or Techcombank also temporarily stopped disbursing real estate loans with certificates and secondary loans to buy real estate (including with or without certificates) from March 25.

Minh Vy

Deputy Prime Minister assigned the Ministry of Finance to study and supplement real estate tax to avoid speculationThe Deputy Prime Minister assigned the Ministry of Finance to study and increase the regulation on land and supplement tax collection with houses in order to encourage efficient use and limit speculation.

You are reading the article Ho Chi Minh City tightens loans for high-class real estate, tourism and resorts
at Blogtuan.info – Source: vietnamnet.vn – Read the original article here