Experts said that Vietnam has more than 70% of investment in surfing, so when capital sources are controlled, the market will face difficulties. Therefore, 2022 is not favorable for the real estate market.
Commenting on capital sources into the real estate market, Dr. Dinh The Hien said that Vietnamese real estate has a favorable capital mechanism and abundant capital. However, in 2022, the only source of capital that is still bright is FDI in industrial parks and factory purchases. The remaining three sources of capital including corporate bonds, banks and capital from customers all "returned".
Notably, in terms of corporate bond capital, expert Dinh The Hien said that now the Government does not tighten bonds but requires the issuance of bonds to the right standards. An enterprise that wants to issue bonds in accordance with the standards must meet the following conditions such as having a real project, legal enough, listed on the exchange, etc. Few businesses meet that standard, not because the state tightens it.
The characteristic of the Vietnamese market is that there are more than 70% of investment components surfing, so when capital sources are tight, the market will face difficulties.
"In general, 2022 is not a favorable year for the real estate market," emphasized the expert.
According to Deputy Director of the valuation and financial consulting department, Savills Hanoi Nguyen Thi Hong Van, prolonging the credit tightening will negatively affect the market. The two main objects directly affected are investors and home buyers. When loans are tightened, projects will be delayed, leading to a decrease in supply, affecting other industries such as construction materials, furniture... As for homebuyers with real needs, Credit tightening will reduce access to loans. When supply and demand do not meet, the real estate sector may experience situations such as a frozen market or an increase in bank bad debts.
Talking about the source of capital into the real estate market in the current period, Mr. Le Hoang Chau, Chairman of Ho Chi Minh City Real Estate Association (HoREA) also posed existing difficulties.
According to Mr. Chau, credit capital is considered a "midwife" of businesses, however, the Draft Circular amending and supplementing a number of articles of Circular No. 39 dated December 30, 2016 of the State Bank (SBV). ) recently stated to control lending to buy and trade real estate and control lending for life capital needs of great value.
HoREA believes that this leads to a flow of public opinion that the State Bank is oriented to "tighten" credit for the real estate sector, including lending to buy high-end real estate. As a result, credit institutions are "afraid" or "don't dare" to lend to real estate businesses, secondary investors and even individuals and households wishing to buy or lease-purchase real estate. , House.
"This has a negative impact on the healthy, stable and sustainable development of the real estate market in the coming time. To ensure credit capital flows into the real estate market, real estate projects If the property is feasible, reputable businesses need to have access to credit capital," said Mr. Chau.
Regarding bond capital, HoREA President also emphasized that the State does not have a policy to tighten bond issuance, but tightening is necessary for private bond issuance to be carried out in accordance with regulations.
With capital from customers, this is the best and most effective source of capital for the business, helping businesses to settle credit debt, bond debt and generate revenue and profit. In order to get this capital flow, enterprises must deploy the project on time, while the current project implementation faces many problems. On the other hand, buyers are also having difficulty in accessing loans, social housing loans can only be accessed from policy banks. The lack of access to loans to buy social housing causes many social housing buyers to take commercial loans.
“The government is disbursing a package of VND 350,000 billion, including VND 15,000 billion to support social housing. If this capital source is not handled well, it will not be effective,” said the HoREA chairman.
Mr. Le Hoang Chau suggested that it is necessary to remove obstacles in legal policies to help cash flow circulate in the economy and the real estate market, so that the market has a diverse supply of housing, solves problems and solves problems. housing problem for the majority of people, creating conditions for the disadvantaged to access social housing.
By CafeF