Many banks have begun to adjust and increase real estate lending interest rates to be consistent with the direction of the State Bank on credit growth management in 2026 regarding controlling the credit growth rate for the real estate sector in 2026 not exceeding the general credit growth rate.
From the beginning of February 2026, the general level of home loan interest rates continued to adjust in the direction of increasing compared to loans for consumption or production - business. All 4 state-owned commercial banks (Big 4) announced a sharp increase in home loan interest rates to a level equivalent to private joint-stock commercial banks (up to nearly 14%/year).
The Big 4 group's increase in lending rates for real estate is mainly due to credit room limits and the specific role of this banking group in policy implementation. In 2025, real estate credit increased by over 20%, while real estate business loans increased by 28%. Focusing on real estate credit increases risks, especially when the real estate market recovers unevenly, and liquidity largely depends on bank credit.
Stepping into 2026, management agencies begin to tighten to ensure system safety. Banks are therefore under "double pressure": both having to comply with the expected general credit room of about 15%, and not allowing real estate credit growth to exceed their own general growth rate. In the context that the credit room is'limited', to reserve room for priority sectors, banks are forced to narrow the room in other sectors, including real estate.
Rising interest rates mean increased capital costs are creating pressure simultaneously on buyers and investors. Dr. Nguyen Duy Phuong, Director of Financial Investment at DG Capital, said that real estate businesses have begun to feel the heat.
In his role as a financial advisor to many businesses in the real estate sector, this expert said that increasing lending interest rates for real estate only affects new loans, while old real estate loans will not be immediately affected. But if the situation of increasing lending interest rates for the real estate sector lasts, it will seriously affect the market.
Dr. Phuong analyzed that, from the perspective of businesses, most real estate project investors currently use large loans from banks. If banks maintain interest rates at the threshold of 12-14% for a long time, it will directly hit the profit problem of investors. This will force businesses to adjust selling prices up to ensure profits.
But increasing selling prices in the context of real estate prices escalating as they are now will certainly affect consumption and affect the cash flow of businesses. Homebuyers still often pay according to project progress, so if medium and long-term loans have high interest rates, it will put great pressure, forcing them to reconsider buying a house at this time. When purchasing power decreases, real estate project owners also face difficulties, cannot sell goods, increase prices but no one buys a house.
The general level of interest rates in 2026 will hardly increase high because the Government still sets a high economic growth target. If interest rates increase too sharply, it is very difficult to achieve this target. However, it is also necessary to look directly at reality, interest rates will hardly decrease deeply like the "cheap money" period before. The issue is not "loosening or tightening" but flexible and selective regulation, ensuring capital flows reach the right priority segment," Dr. Phuong stated his opinion.
