Hanoi (VNS/VNA) – Outstanding loans for real estate business activities rose to more than 2.5 quadrillion VND (nearly 95 billion USD) as of June 30.
The Ministry of Construction's report on housing and the real estate market for the second quarter of 2026 showed that compared to the end of March 2026, the loans rose by more than 284 trillion VND. They were up more than 518 trillion VND compared to the end of 2025.
According to the report, outstanding loans for urban area investment and housing development projects remained the largest category, reaching 833.6 trillion VND by the end of June, up 6.33% from the end of March.
Loans for land-use right acquisitions surged by more than 23% to 314.5 trillion VND, while loans for industrial zone and export processing zone construction projects hit 184.2 trillion VND, an increase of over 32%.
Conversely, loans for eco-tourism and resort projects declined by more than 4% to 80.6 trillion VND.
According to the Ministry of Construction, real estate credit in the second quarter continued to be managed in a cautious and selective manner, prioritising capital for projects with full legal compliance and the capacity for implementation and completion, thus generating actual market supply.
Access to capital varies among real estate enterprises. Developers with strong financial standing, viable business plans and stable cash flows enjoy more favourable conditions for securing credit, whereas projects facing legal hurdles or low liquidity continue to struggle.
From an investment perspective, Ta My Bach, head of property consulting firm Jones Lang Lasalle Vietnam’s capital markets division, noted a shift in investor appetite from strategies driven primarily by expectations of price hikes toward an emphasis on asset quality and actual operational performance. This indicates that an asset's cash-generating potential and operational efficiency are playing an increasingly critical role in investment decisions.
The developments in the first half of the year showed that bank capital continued to play a vital role in the real estate market, but access to such capital is becoming increasingly differentiated.
A developer's financial strength, a project's legal status, performance and ability to generate cash flow are emerging as key factors determining its appeal to both credit institutions and investors./.
More preferential credit available to businesses
Under SBV requirements, commercial banks are to provide Vietnamese-dong loans to SMEs and growth-driving sectors at rates at least 1 percentage point per year lower than their average rates for loans of the same maturity. They are also required to consider waiving or reducing service fees for eligible customers in line with regulations and their financial capacity.
