28.01.2011 - High interest rates hurting Vietnam’s property market
From Property-report.com: A spike in interest rates has affected demand in Vietnam’s property market, local experts say. Mathew Powell, Director of Savills Vietnam’s Hanoi branch, said only 10 per cent of the company’s clients were mortgaging their apartments. The lending interest rates are currently at 18-20 per cent per annum. As reported by VietNamNet Bridge, several local commercial banks, including Vietcombank, Vietinbank, Hong Kong and Shanghai Banking Corporation, and Asia Commercial Bank offer installment plans for individual clients to purchase houses..............................................Full Article: Source
Print