City Real Estate Association. Ho Chi Minh City (HoREA) has just sent a document to the State Bank of Vietnam, proposing to allow real estate businesses to restructure their due credit loans and get new credit loans if they have collateral with loan interest rates. reasonable.
HoREA forecasts that 2023 will be the year of “vital decision” for real estate businesses if they are not supported to solve “knots” in cash flow to ensure liquidity. First of all, the needs and aspirations of all real estate businesses are the desire to access credit loans to overcome extremely difficult times.
According to HoREA, many real estate businesses have great assets and have taken many measures to deeply reduce selling prices and increase discounts to 45-50%, but it is still difficult to sell goods because there is almost no sales. buyer.
According to a report by the General Statistics Office, the number of real estate businesses dissolved in 2022 is nearly 1,200, an increase of 38.7% compared to 2021. Many real estate businesses have had to drastically restructure, restructuring investment, changing business plans, stopping or suspending investment activities, project construction, stopping IPOs, downsizing production scale.
HoREA proposed the State Bank to allow real estate businesses to restructure credit loans due within 12-24 months (Photo: TN)
According to HoREA, besides the biggest difficulty is the legal problem accounting for 70% of the difficulties of real estate businesses, the next direct difficulty is the maturity of individual corporate bonds. In addition, due credit loans will entail the risk of turning into bad debt or jumping into a worse debt group.
HoREA also believes that some regulations of the State Bank or separate regulations of commercial banks should be considered and amended to suit the requirements of the actual situation. Typically, loan conditions are too strict, such as requiring businesses to have a construction permit, like a “sub-license”, making it difficult for real estate businesses; or Circular 16/2021/TT-NHNN fighting with Decree 65/2022/ND-CP on regulations allowing enterprises to issue bonds for the purpose of restructuring their own debts. release…
From the difficulties of businesses, HoREA proposed the State Bank to consider issuing a new circular, similar to Circular 14/2021/TT-NHNN, allowing real estate businesses to restructure credit loans. maturity within 12-24 months, keep the same debt group and get new credit loans with collateral. At the same time, consider extending the roadmap that stipulates that credit institutions can only use up to 12 months of short-term mobilized capital and savings for medium and long-term loans.
At the same time, HoREA proposed the State Bank to support homebuyers to get credit loans, to support the real estate market to recover and develop in a safe, stable and sustainable direction… In addition, HoREA also propose to amend a number of regulations on credit, consider amending and supplementing to suit the requirements of the actual situation…