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THE MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIETNAM BANKING UNIVERSITY OF HO CHI MINH CITY THAN NGOC MINH BANK CREDIT FOR THE DEVELOPMENT OF REAL ESTATE MARKET IN THE HO CHI MINH CITY ECONOMIC DOCTRINE THERAPY HO CHI MINH CITY, 2018 THE MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIETNAM BANKING UNIVERSITY OF HO CHI MINH CITY BANK CREDIT FOR THE DEVELOPMENT OF REAL ESTATE MARKET IN THE HO CHI MINH CITY ECONOMIC DOCTRINE THERAPY Major: Finance - Banking Code: 9.34.02.01 Science instructor: Dr NGUYEN VAN LUONG Dr NGUYEN VAN PHUC HO CHI MINH CITY, 2018 CHAPTER NTRODUCTION TO RESEARCH PROJECT 1.1 REASON FOR PREPARATION Credit activities in the real estate sector of commercial banks are closely related to the real estate market and the real estate market is affected by many factors such as management, regulating the state of the real estate to the elements of participants such as buyers, sellers, in which the NH is a participant in the market Bank credit, as well as a channel to provide real estate investment in the form of real estate investment projects (real estate stimulus), as well as commercial real estate lending (demand real estate) TP Ho Chi Minh City is the place where real estate credit activities are always active and the growth of outstanding loans in this field is highest in the country The growth of credit capital for real estate in addition to the positive signs in bringing about quite large profits, diversifying the investment portfolio of banks and meet the social needs, this activity also brings Risks are quite high The real estate market in our country has contributed significantly to the country's socio-economic growth The real estate market has attracted many investment capital sources and contributes to urban renewal, stimulus and step by step improvement of housing demand of the people Through the operation of the real estate market, the regulatory system regulating the operation of the market has been gradually improved A number of important legal documents such as real estate business law, land law, investment law, enterprise law, housing law have been issued to facilitate the development of the real estate market, creating favorable investment environment for domestic and foreign investors as well as users to have more direct access to this special commodity Besides the positive aspects, the real estate market in our country has many limitations, unhealthy and unsustainable development Specifically, the land has not been exploited and not used effectively, but waste, large losses Negative phenomena, corruption related to real estate is much Real estate development market is spontaneous, lack transparency, informal transactions also occupy a high proportion Supply and demand for real estate is unbalanced, especially in terms of housing needs of the people Real estate speculation, stimulus demand "virtual" to increase the price of real estate to make the market fluctuate, many fever of housing prices have occurred very complex, unpredictable resulting in business enterprises Real estate is difficult to continue business, increasing the bad debt ratio for commercial banks lending real estate business, housing demand for the majority of population is facing difficulties, especially workers earning Low import affecting the socio-economic development of the country There are many reasons leading to the above situation, which is caused by the source of bank credit, from the land planning policy, the economic development, tax policy related to real estate still many inadequacies processing Credit supply to the real estate market tends to create more supply, creating demand over a long period of time is one of the important reasons for the imbalance between supply and demand This shows that the impact of bank credit policy on the real estate market After a period of hot growth, supply and demand asymmetry, the implication is that real estate companies have suffered a large inventory in recent years Real estate inventory has buried large amounts of capital in real estate projects, which is the main reason for increasing the bad debt ratio of banks However, as credit activity is twofold, it can bring about efficiency for borrowers, the economy and the bank itself, which can both cause asset loss and impair the operational capacity of the bank Bank On the other hand, the efficiency of credit has not yet been seen as a tool for regulating the economy in order to promote the development of a stable, healthy and sustainable real estate market, attracting foreign investment to create capital for development investment national economy Therefore, to overcome the problems mentioned above to develop the real estate market That's why I chose the subject "Bank credit for developing real estate market in the city HCM "to study the relationship between bank credit efficiency for the development of the real estate market to his doctoral dissertation 1.2 SUMMARY OF RESEARCH SITUATIONS ON THE THESIS Currently, there are many researches related to "Solutions to improve bank credit efficiency for real estate market development in the city HCM " However, according to the author's understanding, there are now a number of typical domestic and foreign studies related to the topic as follows: 1.2.1 Research in the country Firstly, Le Hoang Chau in 2017, real estate market from 2006 to 05/09/2017 This is the report of the real estate market in TP HCM in 2017 [5] The report provided some general insights on the real estate market in Vietnam and HCMC Ho Chi Minh City, the focus is from 2006 to 5/9/2017 The report mentions the real estate market in this period according to the asymmetric SIN diagram, depending on (1) the Value Law, (2) the Competition Law, (3) (4) Macro policy and regulation mechanism, (5) Investment and business behavior of enterprises and investors under the influence of policy, mechanism or demand of the market The real estate market is experiencing several stages of development: growth - stability - warming - freezing - quieting recovery and growth again The report also mentioned this change over time and causal analysis The report predicted that the real estate market will continue to maintain its recovery momentum and stable growth without major fluctuations [7] Secondly, Nguyen Van Tuan, a researcher in 2016 on "Solutions to improve credit quality at Vietnam Bank for Agriculture and Rural Development" [25] The research has combined two qualitative and quantitative methods in the research to find out the factors that affect the credit quality of Agribank in the period 2012 - 2015, from which the author has Proposing suitable solutions to improve credit quality at VBARD However, the topic of research is only to solve the problem of credit quality in general but not specifically research credit for real estate loans and have not explained, presented the theory of relevance between credit quality and credit efficiency The argument about the relationship is: When the bank has built a good credit quality for the loans outstanding This shows that the role of credit has worked effectively for the economy, for customers, for the industries and areas in which the bank has financed and for the bank itself Revenues and profits of credit activities This is also the next research gap that the author has been interested in; Thirdly, Nguyen Thi Hai Yen in 2016, "The volatility of the real estate market and the role of credit capital" This is the work published in Finance magazine period 1/2016 [11, 19] Practice shows that the real estate market in Vietnam has experienced many fluctuations with the phenomenon of fever and freezing clear The period 1994-1995 marked the first fever of the market due to the impact of economic growth and the birth of the Land Law 1993 The real estate market is characterized by the early stage, only stop In the form of land purchase and sale and rapid freezing in 1995-1999, the Government intervened and promulgated Decree No 18 / ND-CP dated 13 February 1995 and Decree 87 / ND- CP dated 17 August 1994, together with the impact of the Asian crisis of 1997 In 2006-2007, along with the growth of foreign direct investment (FDI) and the movement of capital inflows From the stock market pouring into the real estate market, real estate demand continued to increase rapidly and pushed up to the peak in 2007 Investment, massive speculation, plus credit growth rapid growth has created bubbles on the market in the years 2007- 2008 However, soon after the "ball" real estate has deflated, because by the impact of the world economic crisis, the real estate market has difficulties in terms of liquidity, speculators withdraw from the market, causing For the bankers and businessmen, standing on the brink of bankruptcy Under that pressure, SBV had to apply tight monetary policy, commercial banks tightened control of real estate credit Fourth, Le Ha Diem Chi 2014, "Bank credit capital and real estate market." This is a study published in the Journal of Market - Finance - Money No 9/5/2014 [4] The study on the relationship between bank credit and the real estate market in Vietnam concluded that "there is a two-way relationship between bank credit and the real estate market in Vietnam On the one hand, real estate credit changes the supply and demand of real estate; Real estate credit growth boosts real estate prices On the other hand, when the real estate market contains many negative factors (bad debt real estate, low transaction volume ) will limit the source of credit in this market In addition, the real estate market also makes the demand for real estate credit vary according to"[6] Five,, Le Tan Phuoc, in 2013 The researcher on "Improving the efficiency of real estate credit activities in commercial banks in Ho Chi Minh City HCM from 2013 to 2017 " This is an elaborate research topic at the industry level, summarized by the author and posted in the economics and forecasting journal, No 12 (22) September 10/2013 [7] The research content of the author refers to factors affecting the real estate market and present real estate credit activities of commercial banks in the city HCM The author has analyzed the changes in real estate loans in the city HCM and present the status of bad debt in lending for real estate in the city HCM However, the research of the author does not mention the effectiveness of bank credit for the development of the real estate market It has not shown the shortcomings, limitations and causes of credit shortage and existence of the development of the real estate market of the city HCM This is also a gap in the study of the subject and it is also the direction of research that NCS chose to offset the gap that study Sixth, Nguyen Thi My Linh, in 2012 author of research on "tax policy for the development of real estate market in Vietnam" This is the doctoral thesis of the author [12] The study focused on tax policy for real estate market development in Vietnam in the period 1993 to 2011 The topic was studied by two qualitative and quantitative methods, from which specific analysis The tax policy for the development of the real estate market in Vietnam Research has shown that tax policy will directly affect the price (supply and demand) of the property market and the real estate market is one of the "output" for banking operations As a result, real estate market fluctuations have a direct impact on financial and monetary markets As the real estate market declines, it will negatively affect the banking system and vice versa The financial-monetary market is the source of capital for real estate investment financial-currency market, immediately impacted the real estate market However, this is a research study of tax policy of the State for the development of real estate market in Vietnam should still have a gap in the research on credit efficiency for real estate market development Vietnam and HCMC This is also the research direction of PhD student Seven, Luu Van Nghiem, 2008 study author on "Real estate valuation in Vietnam" Ministry research project [6] The author has generalized the basics in general pricing and real estate valuation in particular in Vietnam However, this topic has just stopped in researching corporations in the model 90-91 in the process of asset valuation to determine the value of enterprises after equitization Therefore, besides valuing the real estate of equitized enterprises, enterprises also need to determine the value of other assets to form the capital assets of enterprises Moreover, valuation of equitized firms has different characteristics than valuation of assets in general In addition to tangible assets there are many other intangible assets such as trademarks and commercial advantages Therefore, the value of real estate valuation is different from the actual value in the market Property valuation is the basis to go to the transaction of buying, selling, leasing, inheritance, real estate mortgage For commercial banks, valuation is the basis for the bank to receive collateral and decide the loan ratio on the value of the collateral On the other hand, real estate valuation is a very important task for banks to have the basis for the sale of mortgaged property as property to recover bad debts However, real estate valuation in Vietnam Formation of organizations and professional associations to unify the way of implementation Currently commercial banks or companies operating in the field of real estate often build independent units for their valuation departments to serve business operations, so there is no uniform evaluation methods lead to Appraisal results of different units make it difficult to access trading decisions of market participants This is a barrier in the study that the topic is to propose solutions to improve real estate evaluation in the coming time Eight, Nguyen Tien Phong, 2008, researcher on "Improving credit performance for small and medium enterprises in Vietnam Joint Stock Commercial Joint Stock Bank." This is the doctoral thesis of the author [15] The topic has systematized the theoretical issues on improving the efficiency of credit activities for small and medium enterprises and analyzing the current status of credit performance for small and medium enterprises through which proposals Solutions to improve the efficiency of credit operations for small and medium enterprises at Joint Stock Commercial Joint Stock Bank of Vietnam However, there are still gaps in the research: The scope of the study is limited to the performance of credit outside of the State Bank of Vietnam and generally refers only to the effects of credit activity on small and medium enterprises without mentioning the effectiveness of credit For specific areas such as the real estate sector or the agricultural sector, economic restructuring This is the gap in the study of the topic should be further research to supplement and complete 1.2.2 Study abroad Firstly, Aluko, Bioye Tajudeen (2000), studied the "effect of mortgage real estate prices on lending activity of credit institutions in Nigeria" The authors conclude that real estate market value is a fundamental basis for estimating the value of real estate mortgages The authors have applied the multivariate regression model to estimate the market value of real estate This value will set the maximum limit that credit institutions can not exceed to avoid the risk of lending However, in this study, the authors point out that this price level is a price index that shows us the level of risk before the loan is made but there is no guarantee that the price will is maintained in the future The authors conclude that mortgage rates are highly dependent on the development of the property market at the time of valuation and valuation of the valuer Therefore, valuation is only time-based The changes outside the valuation time affect the value of real estate Secondly, Kwong Chaw, Wailai (2002), has studied "real estate valuation methods as collateral for loans in China's banks and credit institutions" [30] This topic mainly delves into the methods used in mortgage pricing, in which Kwong and Wai went into two basic methodologies: costing and income method to determine the value 10 of mortgage real estate According to him, the value of real estate is calculated by the income (the gain from the use of real estate) and the costs constituting it This topic is only in the valuation method, not in depth study of the process as well as the organization of valuation Real estate mortgage In general, these studies were carried out in a fairly well-informed and applied context in which the legal system was quite rigorous and complete 1.3 OBJECTIVES OF THE STUDY 1.3.1 Overall objectives The general objective of the project is "To improve the credit effectiveness of commercial banks for the development of real estate market in the city HCM’ 1.3.2 Detail goal First, the thesis has systematized the basic theoretical issues of credit efficiency for real estate market development; Secondly, assess the current state of bank credit efficiency for real estate market development in the city Detailed HCM: - Analysis of factors affecting the development of real estate market in the city HCM; - Evaluating the actual state of bank credit activity (lending activities) for the development of the real estate market in the city HCM; - Thirdly, proposing groups of solutions to improve credit efficiency for real estate market development in the city HCM in the coming time 1.4 RESEARCH QUESTION • To achieve the above research objectives, the content of the dissertation focuses on the following research questions: What is the efficiency of bank credit for real estate market development? Which criteria to evaluate? What are the specific factors that affect the efficiency of banking credit for real estate market development? 18 which the expert interview is prepared (third step) The task (the third step) will be discussed with many stakeholders (n> 10) who are managers of real estate companies and commercial banks in Ho Chi Minh City Ho Chi Minh City has research, understanding many real estate, credit for real estate, the factors affecting the development of the real estate market This expert interview is aimed at correcting to arrive at a consistent understanding of the questions in the scale At the end of the qualitative research phase at (step 3), the questionnaire used for the preliminary quantitative study was finalized • Quantitative research phase This is the phase of the survey, gathering data from the real situation to test the scale and research model First, preliminary quantitative research (fourth step) is undertaken to collect data for the small sample size (n> 30) Data obtained will then be analyzed using Cronbach's Alpha and exploratory factor analysis (EFA) to screen for duplicate, redundant or overlapping observation variables Reliability (fifth step) From the analysis results in step 5, the author conducts the correction to form the official scale (step 6) This scale is used for formal surveys with large sample sizes (n> 200) (step 7) The data collected from the formal survey was preliminarily processed and analyzed to assess data reliability, exploratory factor analysis, correlation analysis, and regression analysis to make judgments About the research model, the research hypothesis is based on the results obtained (step eighth) The process of doing research is simulated as (Figure 3.2 of the thesis) 3.3 RESEARCH DESIGN ON FACTORS AFFECTING THE DEVELOPMENT OF REAL ESTATE MARKET 3.3.1 Purpose and object of the survey 3.3.2 Research hypothesis From the research process and the steps proposed above the research hypothesis of the thesis includes: Firstly, the land use planning policy and the land use plan are basically the planning of land use in each region and each specific area That may change the nature and purpose of land use in that area as well as neighboring areas, factors that affect the supply and demand of land in particular and property in general Therefore, the first hypothesis of land planning policy is as follows: 19 H1: Land planning policy can have a positive or negative impact on the development of the real estate market HCM; Secondly, the economic development of a country is an important factor promoting the transactions and exchanges in the real estate market is increasing Thus, the second hypothesis of economic development is presented as follows: H2: The economic development of a country has a positive impact on the development of the real estate market HCM; Third, the increase in population leads to demand for housing, the demand for real estate services such as hotels and resorts increase First of all, the increase of population increases the demand for land for production and business, followed by a great pressure to increase the demand for real estate for housing and residential land Thus, the seventh hypothesis for population growth is presented as follows: H3: Population growth has a positive impact on the development of the real estate market HCM; Fourthly, the real estate market is a market dominated by many factors, in which the bank (bank credit) is a participant in the market that is both dominant and dominated by the market Real estate (supply-demand relationship in the property market) Bank credit is the channel to provide real estate market in the form of real estate investment projects (real estate stimulus), as well as real estate lending channels in the market (real estate demand stimulus) ) Therefore, the fourth hypothesis of bank credit is presented as follows: H4: Banking credit has a positive impact on the development of the real estate market HCM; Fifth, financial capacity is the key, is the means to turn ideas into business reality Effective use of capital will contribute to deciding the success of the business, whether large or small, that are interested in financial viability and the issue of raising the use of capital Hence, financial capacity is considered the core of competitiveness Thus, the fifth hypothesis of financial capacity is presented as follows: H5: Financial capacity has a positive impact on the development of the real estate market HCM; Sixth, legal factors can promote or restrict, in particular can close the real estate market as in Vietnam before the Land Law in 1993, the sale and transfer of real estate in the 20 market encountered many legal issues Thus, the legal system is the legal framework that facilitates the real estate market to operate and develop Therefore, the sixth hypothesis of financial capacity is presented as follows: H6: Legal factors have a positive impact on the development of the real estate market HCM; Saturday, tax policy is a content of national fiscal policy, tax will change the price of real estate sold in the market and affect the supply and demand of real estate goods Therefore, the hypothesis The third tax policy is presented as follows: H7: Tax policy has positive or negative impact on the development of the real estate market HCM; Eight, Information and belief often relate to the ability of the seller to provide information such as marketing skills, product introduction, project introduction by compass, on the field On the other hand, The real estate is often long and costly so the State needs to take certain measures for overdue projects without giving the client the right to guarantee the sustainability of the market Thus, the eighth hypothesis of information and belief is presented as follows: H8: Information and beliefs have a positive impact on the development of the real estate market HCM; Ninth, the property market is strongly influenced by customary, traditional and tastes This factor directly affects purchases, transfers, mortgages, vehicles and forms of payment Thus, the ninth hypothesis of customary, traditional and tastes is presented as follows: H9: The customary and traditional factors and tastes have a negative impact on the development of the real estate market HCM 3.3.3 Reliability of the scale All sub-factors of independent variables and dependent variables were measured through the Likert scale Likert scale is designed to test the level of importance or not important to the statement in the interview questionnaire: (1) = Not important; (2) = Less important; (3) normal; (4) = important; (5) = Very important In addition, Cronbach's Alpha and Corrected Item-Total Correlation tests were used to ensure reliability of the scale This method allows the analysis to eliminate unsuitable 21 variables and change the rubbish in the model (uncertainty of scale reliability) [2] Therefore, the variables used in the model are reliable 3.3.4 Measure the variables used in the research model The research model of the thesis includes the variables as presented in the research model The research variables were selected based on the results of the study, based on the theory of credit efficiency for real estate market development and the synthesis of relevant studies such as section 3.3.4 of the thesis) 3.3.5 Sample model, sampling technique and data processing 22 CHAPTER RESULTS AND DISCUSSION 4.1 ESTIMATION AND DEVELOPMENT OF HO CHI MINH CITY REAL ESTATE MARKET 4.4.1 Geographic location and economic and social potential of Ho Chi Minh City Ho Chi Minh City has favorable conditions for socio-economic development in general and real estate market development in particular 4.1.2 The formation and development of the real estate market in Ho Chi Minh City The Land Law came into existence in 1987, creating the legal and legal basis for the development of the real estate market By 1993, the Land Law was amended, the real estate market in our country was revived, formed and gradually developed According to this law, land is also the property of the entire people under the unified management of the State, but the State allocates land for stable and long-term use for organizations, households and individuals Households and individuals that are assigned land by the State shall have the right to exchange, transfer, lease, inherit, mortgage, sublease, contribute capital to joint ventures, guarantee with the value of land use rights This is the first time that the concept of land and land use rights in our country is recognized by the law as an "asset." Accordingly, the real estate market is increasingly active, the demand for housing and land is increasing 4.1.3 Developing real estate market in Ho Chi Minh City from 2012 to 2016 4.2 THỰC TRẠNG VỀ HIỆU QUẢ TÍN DỤNG NGÂN HÀNG ĐỐI VỚI PHÁT TRIỂN THỊ TRƯỜNG BẤT ĐỘNG SẢN THÀNH PHỐ HỒ CHÍ MINH - Current status of operation of Ho Chi Minh City commercial banking system; - Current status of credit for real estate development in Ho Chi Minh City; - Mobilizing capital for real estate development in Ho Chi Minh City; - Current status of loans for real estate development in Ho Chi Minh City 23 4.3 RESEARCH RESULTS 4.3.1 Analyzing the results of the study of factors affecting the development of the real estate market in Ho Chi Minh City - Questionnaire The scale used in this study is the interval, identifier A five-point Likert scale is used to measure the degree of consent of a subject, ranging from complete disagreement to full consensus An identifying scale to describe the characteristics of the sample (eg, place of birth, address, age, position, etc.) - Mơ hình nghiên cứu Based on the results of studies on the factors affecting the development of the real estate market Ho Chi Minh City, proposed research model (Figure 2.3 of the thesis) 24 Figure 4.1: RESEARCH MODEL FACTORS IMPROVING THE REAL ESTATE MARKET Land planning policy Economic development Population Increasing Credit financing Financial capacity Legal element Policy of tax Information and beliefs Traditions, traditions, tastes Source: Research results of the author THE DEVELO PMENT OF THE REAL ESTATE MARKT HCM 25 Table 4.9: Cronbach's Alpha Test Results for Official Scales Variable Cronbach’s Alpha Conclude Land planning policy 0.917 Very good Economic development 0.894 Good Population Increasing 0.889 Good Credit financing 0.878 Good Financial capacity 0.866 Good Legal element 0.77 Acceptable Policy of tax 0.807 Good Information and beliefs 0.913 Very good Traditions, traditions, tastes 0.794 Acceptable Source: From the results of data processing investigated by the author - Dependent Yi: the development of the real estate market HCM - The independent variables Xj are the jth factor Specific independent variables are: (1) land planning policy; (2) economic development; (3) Population growth; (4) Bank credit; (5) financial capacity; (6) legal elements; (7) tax policy; (8) information and belief; (9) Customs, traditions and tastes - Regression analysis We have 26 - The "R" correlation coefficient is 0.595, which is not high, but also shows that the variance of the independent variable is bank credit through independent variables in the model Regression; - The variance test also showed that the variance is no difference, when Sig value = 0.000 - The coefficients of VIF of the factors are in the range of 1-2, which indicates that multi-collinearity is not occurring - Based on the above model and the factors affecting the development of the real estate market HCM The thesis on the regression model is elaborated as follows: - Y = 0 + 1 X1 + 2 X2 + 3X3 + 4X4 + 5X5 +𝜀 Inside: Y is the development of the real estate market HCM Xi is the i factor This is the regression parameter ε is the error number The results of EFA analysis have nine factors affecting the development of the real estate market These nine factors were included in the next regression analysis to determine the level of impact of each factor Results of regression analysis (Table 4) - From the results of the above tests, it can be seen that the independent variables have an impact on the development of the real estate market HCM Standardized regression coefficients will be used to determine the different effects of independent variables From the regression coefficient table, the regression equation is constructed as follows: 27 Table 4.10: Summary of Factor Analysis Results in the Preliminary Survey System User variable group Custom Access 0.749 0.786 0.000 0.000 71.326 65.704 1.323 2.628 No No KMO Sig Missing Mile Giá trị riêng Number of suffix Observation supervator ** Compatibility with the level 1% * Compatibility with the level 5% Eigenvalue 1.081 65.035 0.860 0.000 Source: From the process of the craft process - The development of the property market = 0.265 * Economic development + Missing Mile KMO System checksum Bartlett’s Mean level (sig,) 0.257 * Policy planning + 0.253 * Policy tax + 0.230 * Banking + 0.154 * Main source + 0.140 * Traditional, market tastes + 0.133 * Information, belief + 0.119 * The logical element + 0.069 * Events for the increment 4.3.2 A general assessment of the real state of bank credit performance for real estate market development in Ho Chi Minh City - These achievements - The shortcomings 28 CHAPTER SOLUTIONS, RECOMMENDATIONS AND CONCLUSIONS 5.1 OBJECTIVES AND ORIENTATIONS FOR IMPROVING CREDIT EFFICIENCY FOR REAL ESTATE MARKET DEVELOPMENT OF HO CHI MINH CITY 5.1.1 The objective of improving credit efficiency for developing real estate market - Ommon goals Targets development of real estate market in Poland in general and TP In order to attract investment capital and speed up the flow of capital in the economy, to efficiently use the land fund, to increase the state budget revenue and, most importantly, to raise the efficiency of the real estate market HCM - Detail goal To achieve the above objectives, the development of the real estate market HCM should focus on the following specific objectives: - Orientation of the state for real estate market development is institutionalized through policy mechanisms and active participation in the market as the land owner of the State - Develop a strong and comprehensive real estate market, especially real estate in the urban area, the center, maximize the resources from real estate, create added value for real estate, avoid waste of land - Attract and encourage all economic sectors to invest in real estate development The State creates favorable conditions and equality - Create a convenient and secure environment for transactions in the real estate market, develop services supporting the real estate market Orientation to improve credit efficiency for real estate market development in Ho Chi Minh City until 2020 with a vision to 2030 5.1.2 Orientation 29 5.2 GROUP OF SOLUTIONS TO IMPROVE BANKING CREDIT FOR THE DEVELOPMENT OF REAL ESTATE MARKET IN HO CHI MINH CITY 5.2.1 Group solutions for banks - Complete the regulation process - Finalizing the legal environment - Complete business strategy - Compliance with Basel II standards - Improve asset quality of the bank - Liquidity management - Enhance the capacity of executive management - Develop a data collection system - Exploit and use capital effectively - Need to increase capital for commercial banks - Promulgating criteria for lending to real estate 5.2.2 Group solutions for real estate market development - Real estate market development - State land policy - Tax policy for real estate market development - Renovation of planning and planning - Set up real estate market indicators 5.2.3 Solutions to support the development of other real estate market 5.2.4 Group solutions for customers to borrow real estate investmen 5.3 SOME RECOMMENDATIONS - For the Government - For the SBV - For the People's Committee HCM 5.4 CONCLUSION CHAPTER 30 CONCLUSION To the real estate market in the city Real estate businesses need to adjust their business structure, focusing on the market segment is payment ability such as the segment of affordable apartments because this is the segment will create attraction Big thanks for the strong demand and reasonable price, in line with the real demand of the market This will shorten the current gap between supply and demand With offices for rent, you should pay more attention to the quality and convenience of the property (parking, energy saving, security, order and fire prevention, ); The market will compete fiercely with many new products, fast construction schedule and preferential sales policies Price competition will remain the most important tool that businesses need to address Therefore, enterprises need to speed up the progress of the project, apply advanced technology and use new materials, save costs to reduce production costs, which can compete price, quality, differentiation and suitability of the product with the needs of the consumer With the role of credit capital in the development of the real estate market, real estate developers need to have other solutions to mobilize capital other than credit from banks (i) strengthening joint ventures in implementing real estate projects; (ii) continuing to mobilize capital from home buyers through capital contribution contracts; (iii) split apartments for sale, this solution increases the opportunity for homebuyers; (iv) issuance of bonds, stocks Through research, the thesis has made the following basic contributions: Firstly, the systematic interpretation of the concept of credit efficiency for real estate market development; Secondly, to study the experiences of some foreign commercial banks in improving the credit efficiency for real estate market development, thereby drawing lessons for Vietnamese commercial banks in general and in the city HCM in particular; Third: Using statistical analysis methods to compare the real situation to improve the credit efficiency of real estate market development according to the evaluation criteria; Wednesday: Using SPSS 16 software to analyze the impact of factors on the development of the PC market Ho Chi Minh City based on survey results from organizations and individuals wishing to invest, trade or consume real estate and staff at commercial banks in the city HCM; 31 Fifth: The author has evaluated the achievements, limitations and causes of the limitations based on the analysis of the real credit performance for the development of the real estate market HCM; Friday: The author proposed a system of groups of solutions and recommendations to improve credit efficiency for the development of the real estate market HCM in the coming time The author wishes to receive comments from teachers, scientists, experts in the field of finance, real estate and readers to complete the topic In the next research direction, the author thinks that in terms of space and time of study of the subject is still limited and the next direction in the future of the author is to continue research groups of solutions to Improve credit efficiency for real estate market development as soon as possible./ 32 LIST OF RESEARCH WORKS OF AUTHORS RELATED TO THE THESIS IS DISCLOSED Than Ngoc Minh in 2017, real estate investment credit in TP Ho Chi Minh Situation and solutions Journal of Finance, 2nd period - August 2017; Than Ngoc Minh in 2017, Improving the quality of real estate credit in Ho Chi Minh City Ho Chi Minh Journal of Economics & Forecast, 25 September 2017; Than Ngoc Minh in 2018, solution bank credit for real estate market development TP Ho Chi Minh Asia-Pacific Economic Journal No June 2018; Than Ngoc Minh in 2018, strict management of bank credit for real estate for the sustainable development of the market Journal of Financial Markets 13 (502) 2018 Than Ngoc Minh in 2018, real estate credit risk management for commercial banks in HCMC HCM Financial Magazine August 1-8, 2018