Real estate lures most investment in first quarter (Source: VNA)

HCM City (VNA) – Real estate lured investment of 79.2 trillion VND (3.48 billion USD) in the first quarter this year, accounting for 28.4 percent of total registered capital in the period, the highest of all sectors, the Ministry of Planning and Investment reported.

The sector recorded 1,226 firms new firms, a year-on-year increase of 32 percent.

According to the State Bank of Vietnam, by 2017, the total outstanding loans in real estate exceeded 471 trillion VND (20.72 billion USD), mostly for projects in urban zone construction and housing development, house repairing and business activities.

The credit package for real estate-related business activities and construction projects climbed 12.2 percent in 2017, up 12.2 percent year on year, 15.8 percent of the year’s total credit.

The real estate market saw positive changes in all segments in 2017.

In Hanoi and HCM City alone, there were 64,263 successful deals.

A range of new products, such as condotels, officetels and hometels were developed, making the real estate market more attractive.-VNA