HCMC – The Ministry of Construction has proposed stricter lending limits for buyers of multiple homes to curb speculation and stabilize the real estate market.
Under the draft resolution on real estate price control, buyers of a second home would be allowed to borrow up to 50% of the property’s value, while loans for third and subsequent homes would be capped at 30%.
Currently, banks lend up to 70-80% of a property’s value. Some developers also allow buyers to pay only 10-30% upfront and borrow the rest, fueling speculative purchases and market risks, the ministry said.
The ministry noted that real estate is closely tied to the banking sector and macroeconomic stability. Rising home prices that outpace income growth have distorted supply and demand and could threaten financial stability.
As of late August, outstanding real estate loans had reached VND4 quadrillion, up 19% from a year earlier.
The draft also proposes establishing a Real Estate Trading Center on a digital platform to connect state agencies, businesses, and individuals in property transactions. The center would monitor and verify data to improve market transparency.
In addition, at least 20% of commercial housing projects between 2026 and 2030 would be allocated to affordable housing. Developers of these projects would receive incentives such as exemption from land auctions and a maximum profit margin of 20% of the total investment, including land costs.
Prime Minister Pham Minh Chinh said at a Government meeting on October 5 that the real estate market was showing signs of recovery but housing prices remained high. He urged authorities to strengthen market oversight and stabilize property prices.
