Associate Professor, Doctor Nguyen Huu Huan at the University of Economics HCMC shared insights in an interview with The Saigon Times, suggesting that real estate credit growth in the first five months of 2024 might be driven by businesses borrowing to repay maturing bonds or for debt refinancing. The paradox of bank loans and real estate bonds The Saigon Times: Data from the State Bank of Vietnam showed that by May 31, 2024, outstanding real estate loans had increased by 4.61% versus the end of 2023, and accounted for 21.51% of total outstanding loans in the economy, with an absolute figure of nearly VND3.02 quadrillion, a record high to date. What’s your view on this figure? Is it an indicator of the real estate market in recovery mode? Ass. Prof., Dr. Nguyen Huu Huan: In view of the market reality, the real estate market has indeed shown signs of recovering. The Vietnam Real Estate Brokers Association’s report on the domestic real estate market in the first half of this year indicated that real estate is on the recovery path, most notably in the condominium segment in big cities like Hanoi, HCMC, and Danang. Notably, condominium prices in Hanoi have risen […]
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