Vietnam's real estate market is unlikely to boom next year, according to experts.

The State Bank of Vietnam (SBV)’s recent decision to revise up the 2022 credit growth target of the banking system has eased access to bank loans amid a credit crunch, especially at the peak season to prepare for Lunar New Year (Tet).

About VND9 trillion (US$382 million) of public investment capital from foreign sources has been disbursed in the first 11 months this year, accounting for only 26% of the allocated capital.

The State Bank of Vietnam (SBV)’s recent decision to increase credit room by 1.5-2% for credit institutions aims to increase resources and the supply of credit to businesses and key sectors of the economy, SBV Deputy Governor Dao Minh Tu has said.

The State Bank of Vietnam has raised the domestic banking system’s credit growth by 1.5-2.0 percentage points from the previous 14% limit on December 5.

Experts, and representatives of international organisations, and investment funds have shown their belief in the potential for sustainable growth in Vietnam in the coming time.

Credit of the banking system by the end of October this year rose by 11.5% compared to the end of 2021, Bao Viet Securities Company (BVSC) said, citing data from the State Bank of Vietnam (SBV).

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has underscored that credit governance must be prudent to help curb inflation and stabilise the macro-economy when responding to legislators’ concern about credit for real estate.

The Ministry of Industry and Trade (MoIT) will coordinate with the State Bank of Vietnam to remove difficulties for petroleum enterprises in accessing credit guarantee funds in a bid to prevent disruption in the domestic market.

VOV.VN - Singaporean media outlets have widely covered the State visit to Vietnam of Singapore President Halimah Yacob which is running from October 16 to October 20, with plenty of positive assessments.