In the group of state-owned banks, at some branches of Vietcombank in Ho Chi Minh City, the lowest real estate purchase loan interest rate is from 9.6% per year. Compared to the same period last year, when the home purchase loan interest rate at this bank was only about 6% fixed for 12 months and 7% for 24 months, the current level has increased significantly.
VietinBank has also raised the 24-month fixed real estate purchase loan interest rate to more than 12% per year. BIDV raised the real estate lending interest rate to a minimum threshold of 9.7% in the first 6 months, 10% for 12 months and up to 13.5% for 18 months. Agribank applies a lower level in the short term, about 8% for 6 months, 8.5% for 12 months, but also increased to nearly 9.8% if fixed for 18 months.
Some banks list preferential interest rates for home and land loans from 9.5 - 11.5%/year, depending on the preferential period, then apply an additional margin of about 2.3% for all terms.
Talking to Lao Dong Newspaper, Mr. Nguyen Quoc Hiep - Chairman of the Vietnam Association of Construction Contractors, Chairman of GP. Invest assessed that the most worrying thing for real estate businesses in 2026 is interest rates.
Currently, many real estate investment enterprises have to use 60-70% of credit capital. According to fiscal policy, the mobilized capital source is currently 10% lower than the supply to the market, so the State must increase interest rates to reduce the money supply, avoid inflation and financial collapse. For businesses relying on credit, difficulties will come from high interest rates and difficult loan conditions.
In the market, about 60% are buyers who keep investment money, only 40% buy to live in. When interest rates at large state-owned banks lend to homebuyers up to 14%/year, everyone will be hesitant" - Mr. Hiep shared.
Mr. Nguyen Quoc Hiep said that in that context, short-term swing traders using financial leverage may completely leave the market, causing purchasing power to decrease significantly. Meanwhile, strong gold price increases and high stock prices are two direct competitors attracting investment capital.
Due to increased input costs such as land prices, materials, and wages, real estate prices cannot fall. The only way is to reduce the profit margin of investors to pull back the market. Coupled with changes in urban planning due to the rearrangement of provincial scale (to 34 provinces and cities), the 2026 market will re-plan the real estate map for areas, development coordinates and investors.
According to the Vietnam Association of Realtors (VARS), raising interest rates may limit real estate speculation. However, the fact that the general level of interest rates is maintained at a too high level for a long time not only makes it difficult for people to access housing, but also causes difficulties for real estate businesses to implement projects, thereby narrowing supply, exacerbating the supply-demand imbalance in the market.
Conversely, forcing mortgage interest rates down to a low level is not a sustainable solution, because reality shows that prolonged low interest rates can trigger a new wave of speculation, pushing house prices to skyrocket, similar to what happened in the previous period.
Therefore, VARS believes that the problem posed is not "loosening or tightening", but regulating interest rates and credit in a flexible and selective direction, ensuring that cash flow goes to the right target, both controlling speculative risks and not congested real housing demand.
Accordingly, credit packages specifically for first-time homebuyers and suitable housing segments need to be designed in a long-term stable direction, with interest rates lower than the general level, long loan terms and reasonable grace periods, to help buyers proactively plan their finances and avoid the risk of "interest rate shock" after incentives. The targeted credit approach not only supports housing security, but also helps the market shift to the right real housing needs, improves sustainable liquidity and reduces risks for the financial system.
