For the remainder of 2024, nearly VNĐ78.9 trillion worth of bonds is set to mature, with approximately 43.5 per cent of them from the real estate sector.
The real estate sector has witnessed a surge in corporate bond issuances worth a total of VNĐ30 trillion (US$1.22 billion) in the third quarter of 2023, a move aimed at debt restructuring rather than capital raising.
Data of 17 listed banks showed their total outstanding loans for the real estate sector in the first half of 2023 reached VNĐ426 trillion, up 36.2 per cent compared to the end of last year.
Deputy Governor of the State Bank of Viet Nam Dao Minh Tu said he understands that real estate companies were encountering many difficulties and problems.
As securities and real estate sectors are not on the list to receive support, the two per cent interest rate support package''s positive effects on the stocks market are not strong.
Some banks have temporarily stopped providing loans to the real estate sector in the short term in the wake of the State Bank of Viet Nam (SBV)''s policy on controlling credit growth in risky areas.
Many realty companies reported losses in the first nine months of this year, due to the COVID-19 pandemic, tightening credit measures and legal hindrances.
More and more realty firms are using digital platforms to sell their products, driven by the Government''s encouragement to develop local digital technology firms amid the COVID-19 pandemic.
The State Bank of Viet Nam is looking to tighten credit in corporate bonds and the real estate sector provided by non-bank financial institutions with an aim to ensure the safety of the system.
HCM City plans to draw up specific policies for firms having capital of more than VNĐ100 billion (US$4.3 million) in Q1 and pledges to more favourable conditions for enterprises.
The Ministry of Construction has recently requested its department in cities and provinces urge enterprises in the real estate sector to report suspicious transactions and cash transactions.