Overall, credit in the first three quarters of this year was low, but real estate credit still posted a fairly good growth. In comparison with the real estate credit outstanding balance of VND521.82 trillion in 2019, which accounted for 6.37 percent of the industry’s credit, real estate credit outstanding balance reached more than VND526.39 trillion in the first quarter of this year, nearly VND580.17 billion in the second quarter, and VND606.25 trillion by August this year. However, as the total outstanding loans of the whole industry also increased from VND8.19 quadrillion in 2019 to VND8.3 quadrillion in the first quarter of this year, VND8.49 quadrillion in the second quarter, and VND8.59 quadrillion by August, the real estate credit growth basically remains within the safe limits at 6.3-7 percent. A recent report by the Ho Chi Minh City Real Estate Association (HoREA) also shows that the total credit outstanding balance in Ho Chi Minh City in the first ten months of this year reached about VND2.42 quadrillion, an increase of 5.5 percent compared to the end of 2019. Of which, the real estate credit outstanding balance was about VND293.75 trillion, up by 5.9 percent compared to the end of last year…. Read full this story
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