Tomorrow morning, February 8, the State Bank will meet on real estate credit.

According to a source from Nguoi Lao Dong Newspaper , the State Bank will hold a conference on credit work in the real estate sector tomorrow morning, February 8. Businesses in the real estate market are "waiting" for information and policies from this meeting, because bank credit is still the main channel for accessing capital in the context of other capital mobilization channels, such as corporate bonds, facing difficulties.

On February 6, the State Bank held an urgent meeting to hear reports on the capital situation for the real estate market. The meeting was attended by leaders of the State Bank and the Department of Credit for Economic Sectors, the Monetary Policy Department, the banking inspection and supervision agency, and general directors of credit institutions.

Real estate businesses still face difficulties in capital

According to the State Bank's credit orientation for 2023, credit institutions are required to prioritize capital for production and business activities; continue to control credit for a number of risky areas, including business, real estate investment, etc.

Meanwhile, real estate businesses continue to reflect the difficult picture of the market.

At the seminar "Resolution 01 - Breakthrough in supporting businesses" recently organized by Nguoi Lao Dong Newspaper, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA), said that 2022 is the year with the most "severe" difficulties for real estate businesses, although this is the most important industry among 21 economic groups. Of which, legal difficulties account for 70%. Therefore, 2023 is a pivotal year, of vital significance to real estate businesses, so if there is no effective solution, the results will not be good.

Previously, at the regular Government meeting in January 2023, Prime Minister Pham Minh Chinh requested relevant ministries, branches and localities to identify difficulties in the real estate market as a bottleneck that needs to be resolved soon to remove difficulties for many other areas, such as corporate bonds.

According to the 2022 real estate market report, the Ministry of Construction cited data from the State Bank, stating that by the end of last year, outstanding credit for real estate business activities reached approximately VND800,000 billion. At the end of 2021, this figure was approximately VND700,000 billion.

Source: https://nld.com.vn/kinh-te/ngan-hang-nha-nuoc-se-hop-ve-tin-dung-bat-dong-san-20230207154515937.htm