Banks are reducing lending interest rates by 1-3% per year compared to 2022 to stimulate demand for home loans in the wake of the loan decline.

Experts say buying houses now, especially good projects, will help people optimize their credit and price advantages.

Deposits at banks have increased sharply following the commercial banks’ raising of interest rates. The highest deposit interest rate is 7.7 percent per annum.

After a long period of staying at a low level, home loan interest rates have begun to increase. With higher house prices and interest rates, the dream of owning a house is becoming more difficult.

Since the outbreak of the COVID-19 pandemic in January, the State Bank of Viet Nam (SBV) has slashed rates three times.

Since credit has been growing slowly because of low demand from businesses, commercial banks have increased the number of consumer loans to ‘liberate’ their plentiful capital.

VietNamNet Bridge – A 30 trillion VND package to shore up the real estate sector was announced in mid-May this year. Some 70 percent of the package will be provided as loans to low-income earners