HCMC – Outstanding real estate loans in the Vietnamese banking system rose to about VND2 quadrillion in the fourth quarter of 2025, up nearly 28% from the start of the year, according to the Ministry of Construction.
The ministry said property lending increased steadily quarter by quarter and expanded across most segments, including housing, office leasing and industrial parks.
Total outstanding loans grew from more than VND1.56 quadrillion in the first quarter to around VND2 quadrillion by the fourth quarter.
By structure, credit for urban area and housing projects continued to account for the largest share. Outstanding loans in this segment rose from VND481 trillion in the first quarter to VND628.7 trillion in the fourth quarter.
Lending for real estate investment and business activities also increased sharply, from VND506.4 trillion to VND673.4 trillion over the same period.
The remaining credit was allocated to office leasing projects, resort real estate, home renovation and other purposes.
The Ministry of Construction said the credit growth reflects the gradual removal of legal obstacles facing projects, allowing capital to return to the market and focus more on housing demand and urban development.
Other funding channels also showed improvement. The share of real estate corporate bonds in total issuance rose from 7.4% in October to 38.6% in November, before easing to about 28% in December 2025.
The ministry said this indicates improved access to capital for property firms toward the end of the year, although interest rate pressure remained high.
By the end of 2025, newly registered foreign direct investment in real estate reached about US$8.1 billion, accounting for more than 21% of total registered capital and rising nearly 13% from a year earlier.
At a recent meeting of the Central Steering Committee on housing and real estate policy, Prime Minister Pham Minh Chinh asked the State Bank of Vietnam to closely control real estate credit and limit speculative capital flows, as the overall credit growth target for the year is around 15%.
The Ministry of Construction said it will coordinate with the central bank and the Ministry of Finance to strengthen supervision and address speculative capital flows to ensure financial and banking system stability.
