Sudden credit ‘brake’ for real estate enterprises to access capital, house prices to escalate, people’s opportunities to buy houses decrease

Recently, the State Bank has required strict control of credit in potentially risky areas, including real estate business. Therefore, there have been a number of commercial banks that have moved to ‘tighten’ lending and stop lending to the real estate sector.

Mr. Le Hoang Hoan, Chairman of the Board of Directors, General Director of Dat Viet Group said that if banks tighten lending to real estate, real estate businesses and many other businesses will not be able to access capital; Housing prices may escalate and people’s access to housing will decrease.

There is an opinion that capital should not be tightened into real estate in the same way, in general, all projects need to be classified in order to have a suitable management direction and not cause adverse effects on the market (photo : p. illustration).

According to Mr. Hoan, the control of the bank’s capital should have a roadmap, banks selectively tighten real estate credit, not completely lock the credit valve; Because if credit is suddenly locked, many unfinished projects will face difficulties, businesses cannot repay loans, and banks face the risk of bad debts.

“It is not advisable to tighten capital sources into real estate in a leveling manner, in general all projects need to be classified to have appropriate management direction, not to cause adverse effects on the market. It is necessary to have a preferential lending mechanism and encourage businesses to develop affordable commercial housing projects from 1-2 billion VND/unit for real housing needs, “said Mr. Hoan.

Nguyen Manh Khoi, Deputy Director of the Housing and Real Estate Market Administration (Ministry of Construction), said that the economy had just recovered, but real estate transactions increased in both the primary and secondary markets. shows a great need for capital. If you don’t have capital, where can you trade, but if you have traded, how do you control capital flow?

The real estate market is always associated with the capital market. If the capital market has problems, the real estate market will also have problems, so capital flows should be controlled appropriately.

Mr. Khoi suggested that credit capital still has to “flow” into investment real estate, but priority should be given to real estate projects, especially projects that are starting to be deployed to quickly supply to the market. ; rather than prioritizing capital for investment properties. Pay more attention to affordable housing supply. At the same time, boosting the supply in the field of social housing, housing for workers and lending more in this segment…

Mr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association, suggested that we do not tighten credit policies, instead, have a good control policy for projects with speculation and hoarding problems. buy and collect land, blow prices… the rest should be promoted and encouraged.

For bond issuance, it should continue to be maintained, need to have new regulations, control, promote transparency, healthy, and make the market clean. At the same time, promote and form investment funds so that businesses can have early access.

Sharing the same opinion, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA) said that the state should not tighten credit in the real estate market, but should control lending to real estate investors. enterprises, borrowers and use the loan capital for the right purposes.

“We see the lesson of monetary tightening, credit tightening in 2008 and the lesson of monetary tightening and credit tightening in 2011 that led to the real estate market being frozen twice in the past 10 years as Valuable lesson that we need to learn.

Therefore, we believe that it is necessary to have a roadmap to limit credit in the real estate sector, but this progress should be reduced until the end of 2023; For the issuance of corporate bonds, we review and amend the regulations on issuance of the law so that the issuance of bonds is strictly to ensure the legitimate rights and interests of investors, to avoid the situation of enterprises taking advantage of the laxity in bond issuance to profit and even defraud…”, Mr. Chau suggested.

ID