The local real estate market is frozen but property companies still have to pay tens of trillions of dong for bank loan interests per year, Nguoi Lao Dong newspaper reported, citing Dr Tran Kim Chung—Director of Central Institute of Economic Research and Management.
In details, total outstanding loans for the real estate sector in the banking system of Vietnam are estimated at 200 trillion dong with the interest rate of 20% per annum.
Thus, in 2012, real estate firms (even without working) will have to pay 40 trillion dong for loan interests a year. - Source: Vietbiz24
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