As of the end of last year, the total outstanding loans for real estate projects in Vietnam hit over VND1,200 trillion (US$51.5 billion), according to the Ministry of Construction.

Property enterprises borrowed some VND800 trillion ($34.1 billion) from banks and issued bonds worth roughly VND419 trillion ($17.9 billion) via private placement.

In particular, banks offered loans worth about VND180.7 trillion ($7.7 billion) for urban area and housing projects in 2022, or 22.8 percent of the total loans for the real estate sector.

In addition, loans for office for lease projects and industrial and export processing zones stood at more than VND41.8 trillion ($1.8 billion) and VND40.1 trillion ($1.7 billion), respectively.

Meanwhile, investors of tourist site and resort projects asked for loans of nearly VND32.7 trillion ($1.4 billion).

The figures were over VND57.5 trillion ($2.45 billion) for restaurant and hotel projects, VND144.2 trillion ($6.1 billion) for projects to build and repair houses for sale or lease, VND85.2 trillion ($3.6 billion) for land purchases, and VND211.5 trillion ($9 billion) for other real estate investment activities.

Besides borrowing loans from banks, real estate enterprises issued bonds that made up 33.6 percent of the total VND2,000 trillion ($85.2 billion) worth of bonds issued by enterprises via private placement, according to statistics from the Hanoi Stock Exchange. 

Furthermore, foreign investors poured some $4.45 billion into the Vietnamese property market last year, accounting for 16.1 percent of the total foreign direct investment in the Southeast Asian country.

According to the Ministry of Construction, the foreign direct investment mainly flowed into the industrial real estate segment and some large housing projects.

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