HCM CITY — Viet Nam’s real estate market is suffering a severe lack of capital as banks shut off credit flows to the industry.
The credit crunch is not only having a negative affect on property investors though. Banks are also refusing to lend to private individuals who wish to borrow money to buy their own home.
Put in a difficult position, many construction companies have this year deliberately slowed the speed at which their projects are being built. They are prepared to wait until macroeconomic stability returns.
