With current income, most people cannot afford to buy a house, while a small group of investors borrow from banks to buy dozens of houses, waiting for prices to increase.
Mr. Vuong Duy Dung, Deputy Director of the Department of Housing and Real Estate Market Management (Ministry of Construction), speaking at the seminar - Photo: B.NGOC
The comment was made by Mr. Nguyen Quoc Hung, Vice Chairman and General Secretary of the Banking Association, at the Real Estate 2025 seminar, seeking opportunities in challenges organized by Nong Thon Ngay Nay/Dan Viet newspaper on February 11 in Hanoi.
Borrowing from banks to 'hold' apartments, many risks
Mr. Hung said that in 2024, nearly 2 million billion VND of bank capital will be pumped into the economy, with a credit growth rate of nearly 16%, of which capital in the real estate sector will increase by over 20%, higher than the general credit growth rate of the economy.
"The problem is whether the money is lent to people who really need housing or to investors and speculators who borrow money to buy houses and manipulate prices. They already have houses but buy 3-7 more houses with the expectation of future price increases. This is a big risk for the future, for investors, real estate businesses and banks.
The lack of housing supply is real, but the bigger problem is that people with real housing needs, who need a place to live, cannot buy a house, while a group of investors borrow money from banks to "hold" dozens of houses. This is an issue that needs attention and clarification," Mr. Hung emphasized.
Mr. Hung warned investors who borrow money to buy apartments that will be at risk if they push the price too high until they can't sell them. They need to bring the house price back to its true level. The price increase as it has been in the past is unacceptable.
Sharing the same view, Mr. Le Van Binh, Deputy Director of the Department of Land, Ministry of Natural Resources and Environment - said that from 2023 - 2024, due to lack of supply, housing prices will increase very high and suddenly. If it continues like this, it will be very difficult for workers to find housing. Now, it is very difficult and very rare for workers to find housing with prices around 50 million/ m2 . Even old apartment buildings and old collective houses have increased in price by 1.5 - 2 times compared to before.
However, when a new price range is established, supply increases, and the market begins to slow down. In the near future, more real estate products will be launched on the market, along with preferential policies for social housing development, and the real estate market will gradually stabilize prices.
By 2026, the supply of social and affordable housing will increase sharply.
Commenting on the real estate market trend in 2025, Mr. Tran Quang Chung, business development director of One Housing, said that the real estate market is much better than 2 years ago.
However, the affordable housing segment will not have much opportunity to appear in 2025, the main supply is still the mid-range and high-end segment, serving to upgrade housing. In 2026 - 2027, the housing supply will increase sharply, the market segment will be more diverse, the supply of social and affordable housing will be more abundant.
Regarding the supply of social housing, Mr. Hung also believes that with the Government's determination to assign social housing development targets to each locality, the target of 1 million social housing units will be achieved in the period from now to 2030.
Source: https://tuoitre.vn/gia-nha-tang-cao-nguoi-vay-ngan-hang-om-vai-chuc-can-nguoi-khong-co-co-hoi-mua-20250211144220797.htm
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