VnExpress News The News Gateway of Vietnam
Bank’s mortgages fell by 0.7% in the first 10 months of the year, the first drop in three years, revealing a lack of interest in home buying.
But lending to developers jumped by 23.1%, triple the overall credit growth rate of 6.96%, according to the State Bank of Vietnam (SBV).
Analysts attributed the low interest to the lack of affordable residential products.
Of loans given to the property sector 2.9% have become bad debts and the rate is rising.
The Ministries of Construction and Natural Resources and Environment need to work together and resolve the delays plaguing property development, the SBV said.
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