Vietnam’s real estate sector posted the highest credit growth in the economy during 2022, of about 24.27 per cent against 2021, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.

It also accounted for the highest proportion of total credit, with 19-21 per cent.

Speaking at a meeting in Hanoi on real estate credit on February 8, Mr. Tu said credit is an important source of capital for both real estate suppliers and buyers.

Real estate is a sector contributing considerably to the economy and is linked with other sectors, he said.

However, he went on, the market has recently experienced a supply - demand imbalance, as seen in excessive supply in the high-end segment, shortages of housing for mid and low-income earners, “land fever” in certain locations, and wrongdoings by some corporate bond issuers related to real estate.

In order to tackle the difficulties in accessing credit, the SBV will continue to adopt a solid, proactive, flexible, and effective monetary policy that is harmoniously coordinated with fiscal policy and other macro-economic policies, to help stabilize the macro-economy, support economic growth, and facilitate all sectors.