Outstanding real estate loans in Ho Chi Minh City amounted to over $1 quadrillion ($40.3 billion) this year, by the end of July, according to the State Bank of Vietnam (SBV)’s Ho Chi Minh City branch.

The figure accounts for 27.6% of the city’s total outstanding credits and represents an increase of 5.5% in comparison with the end of 2023.

Of the total, the majority came from end users buying houses for living, accounting for 57%.

Outstanding loans for social housing buyers reached over VND2.54 trillion ($102 million), up 78% compared to the end of 2023.

Meanwhile, outstanding loans for infrastructure development for industrial and processing and export zones were estimated at over VND48.39 trillion ($1.94 billion), soaring 18.4% compared to the end of 2023.