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Ministry calls for control on property capital flow

Ministry calls for control on property capital flow

The Construction Ministry has proposed the Prime Minister that measures must be taken to control capital flows into the property market to prevent speculation.

Deputy Minister of Construction, Nguyen Tran Nam, said implementation should be cautious to avoid causing a stagnant market.

"It is necessary to stabilise the market so as to avoid high inflation and an economic bubble," he said.

The ministry said the Government should continue to reduce the number of loans to urban areas, high-rise apartment building projects and office condominiums for lease, as well as loans for site-clearance compensation.

But many people, including real estate investors, fell into major debt and bankruptcy.

(VIR/VNA) 

 

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