According to HCM City Real Estate Association (HoREA) report, in the first 10 months of 2017, the country attracted foreign direct investment (FDI) $ 28.24 billion, increased by 1.6 times over the same period last year, (US $ 17.6 billion in the first 10 months of 2016), the highest increase in 10 years.
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HCMC attracted USD 5.03 billion of FDI, leading the country twice as many as in the first 10 months of 2016; Among them, the manufacturing and processing industry ranked first, accounting for 34.5%; Real estate sector accounted for 32.9%, ranking second.
The most positive signal of FDI flows in the market is that Japanese investors, in which Nishi Nippon and Hankyu cooperate with Nam Long to build the Mizuki Park residential area project with an area of 26 ha in Binh Chanh District, Ho Chi Minh City, total investment of $ 351 million is a testimony.
Son Kim Investment and Development Group (Son Kim Land) recently also called for $ 100 million in successful project development from Japanese investors. At the same time, the famous Japanese retailer Aeon Mall officially co-operated with BIM Group to develop the second Aeon shopping center in Hanoi with an area of 16.7 ha, estimated total capital $ 200 million investment.
In addition, 65% of VinaCapital's Times Square (Hanoi) worth $ 41 million was transferred to Elite Capital Resources Limited.
According to the HoREA report, city remittances in the first nine months of the year were more than $ 3.3 billion, increased by 6% over the same period last year; Of which, about 22% of remittances are invested in the real estate sector.
According to HoREA, credit institutions raised VND1.98 trillion, increased by nearly 14% over the same period last year; Of which, savings deposits accounted for 51.6%, and the positive factor was that the proportion of long-term savings over 12 months tended to increase, accounting for about 34% of total savings deposits.
HoREA's assessment also shows that thanks to high credit growth, outstanding loans are estimated at over 1.6 trillion dong, increased by 19.5% over the same period last year. Thus, the city can achieve the target of 21% credit growth in 2017 as directed by the Government and the State Bank.
It is noteworthy that the credit growth rate is higher than the deposit growth rate, but the positive point is that medium- and long-term loans have increased, accounting for 53% of total outstanding loans.
According to statistics, real estate loans in the city usually account for about 10% of total outstanding loans higher than the national debt of 6.5%. Particularly, outstanding housing loans for over 10,000 individuals and households reached VND 4,740 billion, contributing to the improvement of housing for these people.
(Source: cafef.vn)
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