Business

Interest rate increase likely to affect housing market

Raising deposit interest rates may affect the real estate market, heard a press conference organised by the Commercial Real Estate Services (CBRE) Vietnam in Hanoi on March 27.
Interest rate increase likely to affect housing market ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) – Raising deposit interestrates may affect the real estate market, heard a press conference organised bythe Commercial Real Estate Services (CBRE) Vietnam in Hanoi on March 27.

CBRE Vietnam Managing Director MarcTownsend said many commercial banks in Vietnam have raised long-term deposit interestrates by 1-2 percent to up to 9.2 percent when the US Federal Reserve (FED)increased the interest rate in March.

The adjustment will hike pressure onlending interest rate, which can cause negative impacts on the housing market,he said, adding that investors may shift their investment to other fields suchas stock market.

According to a survey conducted by CBRE, Vietnamranks fourth in the list of the best places to invest in, following Australia,Japan and China.

Vietnam is one of the two biggest spenders ininfrastructure development in the region, said CBRE.-VNA
VNA
#CBRE#FED#interest rate
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