Ms. Vo Thi Hoai Thuong (in Dong Da district, Hanoi) said that although she wanted to change her house from a 2-bedroom house to a 3-bedroom house when her family and children grew up, she could not buy a house for half a year.
“House prices of new projects are too high compared to the family's savings. If you want a 3-bedroom apartment, you have to spend at least 5 billion VND or more. Although the projects are all linked to banks that provide low-interest loans, they only offer incentives for the first year. In the following years, the loan amount was with floating interest, and I was afraid I couldn't handle it, so I gave up the idea of changing the house" - Ms. Thuong said.
Needing to borrow 2 billion VND to buy a house , Mr. Nguyen Duc Manh (in Thanh Xuan district, Hanoi) was advised by a bank staff on many preferential loan packages. Among them, he paid the most attention to the loan package with an interest rate of only about 5%/year.
However, when reading carefully, Mr. Manh realized that this rate only applies for the first 1 to 2 years, then the floating rate will increase to about 12%/year.
According to Lao Dong's research, the interest rates for loans to buy real estate, repair houses... at banks are quite low, many banks are willing to lend at an interest rate of about 5 - 6%/year. in the first time. This is also the lowest interest rate in many years.
Sharing with Lao Dong reporter, financial expert, Dr. Nguyen Ngoc Tu (Hanoi University of Business and Technology) said that although home loan interest rates are currently decreasing, in general, banks are usually fixed. The first 1-2 years will be at an interest rate below 10%, then it will float with a 12-month deposit interest rate plus 4-5%. This is the reason that prevents people from borrowing money to buy houses.
In addition, many people are concerned that in the coming time, increased deposit interest rates will lead to a sharp increase in real estate loan interest rates, possibly even exceeding 10%/year depending on each bank at each given time. There is a high risk that the borrower cannot repay principal and interest.
Financial expert Nguyen Ngoc Tu said that banks should boldly extend the period of fixed interest rates from 3-5 years below 10% and waive interest and penalties at all times. The floating interest rate in the future should also be equal to the 12-month deposit interest rate and a maximum margin of 4%.
Another reason why home buyers do not dare to spend money at this time is because real estate prices are still high, products worth less than 3 billion VND are few, most are from 5-8 billion VND for apartments. , and 7 - 20 billion VND for townhouses in urban areas. That's why it's very difficult for most people to manage.
Mr. Pham Duc Toan - General Director of EZ Real Estate Investment and Development Joint Stock Company (EZ Property) - also said that not only people but many real estate investors and businesses are also "afraid" bank loan.
The bank has reduced interest rates for both new and old loans but not too deeply and will follow the roadmap. Investors with old loans are mostly "exhausted" and have no other source of income to maintain.
Therefore, even though interest rates decrease, it is still very difficult for them to manage. Meanwhile, those who have not borrowed from banks see that the current interest rate after incentives is still very high, using financial leverage will be very risky.
