Credit structure for real estate business in the first 5 months of the year increased by 14%. Finance How much money did banks inject into real estate in the first half of 2023? The credit structure for real estate business in the first 5 months of the year increased by 14%.

In a recent report, the Ministry of Construction cited data from the State Bank of Vietnam saying that, as of May 31, 2023, outstanding credit for real estate business activities Real estate reached 925,796 billion VND, the credit structure for real estate business in the first 5 months of the year increased by 14%.

However, credit for real estate consumption in 5 months decreased by 1.32%, while in the same period last year it increased by 15%. Thus, up to now, real estate investors who are individuals and home buyers for consumption are still not ready to invest, so credit is still low.

Specifically, interest rates have basically stabilized. New interest rates tend to decrease. In particular, the average deposit interest rate of new transactions of commercial banks is at 6.13%/year, down about 0.35% compared to the end of 2022. The average lending interest rate of New transactions of commercial banks are at 9.07%/year, down about 0.9%/year compared to the end of 2022.
< span>Next, regarding restructuring the debt repayment period, the Governor of the State Bank (SBV) issued Directive No. 02/CT-NHNN on strengthening credit work and implementing the policy of restructuring the debt repayment period. Debt repayment deadline and maintaining the same debt group to support customers in difficulty according to the provisions of Circular No. 02/2023/TT-NHNN dated April 23, 2023.

By May 31, 2023, there were 17 banks restructuring debt repayment terms for customers with the principal balance and structured interest rate being VND 14,340 billion.

In addition, in terms of capital from bond issuance, the corporate bond market for the real estate sector in the second quarter of 2023 will have significant fluctuations in June 2023. with 13 separate issuances, total value of 8,170 billion VND with a high interest rate compared to the general average of 12-14%, a sharp increase compared to May 2023. Notably, there was only one enterprise that successfully issued a total value of 2,600 billion VND.

In terms of FDI capital invested in all economic sectors, it decreased slightly, but real estate recorded the sharpest decline, with a total registered capital of 1.53 billion USD, down 51%, 5% over the same period last year, losing 2nd place in the investment attraction rankings.