Over 30pct of FDI capital poured into realty market in 2010

In 2010, the total registered FDI (foreign direct investment) capital for real estate sector was $6.832 billion, accounting for 36.8 percent of the total newly pledged FDI capital into Vietnam, according to the Ministry of Construction.

The ministry said the total pledged FDI capital decreased from the previous year but there were still 27 new projects being licensed, indicating the attractive investment environment of Vietnam’s real estate sector.

According to the incomplete report from 19 provinces and cities, in 2010, there were 11,890 transactions via the real estate trading floor with a total value of 27.257 trillion dong, of which, HCM City saw the highest volume with 4,311 transactions worth 6.509 trillion dong.

Report from the State Bank of Vietnam (SBV) also showed the total outstanding loans for property sector accounted for 10 percent of the total outstanding loans at the banking system. Till the end of 2010, the total outstanding loans for realty field were 228 trillion dong, up 23.5 percent from the previous year, equaling to the credit growth at 23.87 percent. This is an acceptable ratio in the current interest rate conditions. Feasible realty projects are being still considered to access bank loans. – Vietbiz24

Posted by VBN on May 26 2011. Filed under Investment. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry