Property market shows positive signal
Real estate business is currently ranked second in attracting foreign investors, said the Vietnam Business Forum Magazine (VBF).
According to the Ministry of Planning and Investment, as of 20th August, 2014, Vietnam attracted 992 newly licensed projects with a total registered capital of US$7.246 billion (up 29 percent over the same period in 2013), along with US$2,985 billion of additional capital for 349 on-going projects.
The total registered capital in real estate projects of foreign investors this year has been up to US$10.232 billion.
There are many opportunities to trade on the real estate market, but the chances are for those with strong financial potential. At present, it is very difficult to access the medium and long- term loans from banks even with the high interest rates of 13 to 13.5 percent per year.
Currently, more than 70 percent of real estate investment capital comes from the banks or their major customers.
The total real estate loans in the country are estimated at about more than VND260 trillion, accounting for 8 percent of the total outstanding loans of the whole banking system.