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VietNamNews

Minister orders review of property market

Update: March, 01/2014 - 08:51
HA NOI(VNS) — The Ministry of Construction has asked localities nationwide to review real estate projects, housing development projects and urban areas and send the report to the ministry.

The report would be submitted to Prime Minister Nguyen Tan Dung in March.

Statistics from the State Bank of Viet Nam showed that by the end of last month, banks had committed to give loans of more than VND2.3 trillion ($109.5 million) to 2,246 home buyers. Banks disbursed loans of VND1.06 trillion ($51 million) to 2,218 borrowers, an increase of VND200 billion over last January.

The ministry said the production and business value at its enterprises was estimated at VND10.4 trillion ($495.24 million), accounting for 7.4 per cent of the whole year's target and a reduction of 9.5 per cent over the same period last year. The reduction was due to the long Tet holiday.— VNS


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