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Quảng Bình eyes tightening real estate loans

Update: November, 17/2018 - 07:00
A view of Đồng Hới City, Quảng Bình Province. - Photo zing.vn
Viet Nam News

QUẢNG BÌNH — Quảng Bình Province’s Department of Construction has urged commercial banks to tighten control over real estate loans to prevent speculation which is pushing up land prices in the central province.

Võ Văn Tuần, head of the Housing and Real Estate Management Department, was quoted by Xây Dựng (Construction) newspaper as saying that raising interest rates for real estate loans should be considered as a way to prevent speculation.

The provincial construction department would make the land planning and projects’ information available to the public so that people could get accurate market information.

Tuần said that the management on real estate brokerages should also be enhanced.

The department’s statistics showed that land prices in Quảng Bình increased by around 10-15 per cent annually over the past three years but saw a whopping rise of 40-50 per cent in 2018 compared to the end of 2017, triggering worries about a land price fever. — VNS

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