Total Construction Loans Stand at US$4bn; Real Estate at US$10bn as of Q3 2022

• 28 November 2022
• Local News
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As of the third quarter of 2022, loans provided by banks in the construction sector totalled approximately US$4.28 billion, an increase of 19.1% y-o-y. Meanwhile, credit given to the real estate sector was at around US$10 billion, also up by  34.1% year on year.

According to the economic and financial statistics bulletin for the third quarter of 2022,  the real estate sector was divided into two types. The loans for real estate businesses were recorded at US$4 billion, up 35.8% y-o-y; while home loans stood at US$6 billion US dollars, an increase of  32.4% y-o-y.

Loans provided by microfinance institutions in the construction sector amounted to US$416 million, an increase of 35.1%.

The report also shows that the import of construction materials in the third quarter of 2022 was at US$421.60 million, a decrease of 4.6% compared to the same period last year.

• Investment and Funding