Young People Struggle to Repay Home Loans

Many young families in Hanoi are struggling to repay their apartment loans due to increasing

. Initially, many banks offered attractive rates of around 7% per year, but these later surged to 11-13.5%, making it difficult for borrowers to keep up with payments.

Nguyễn Thị Phượng and her husband borrowed 1.7 billion VND in 2021 to buy an apartment. Initially, their monthly

was 18 million VND, but as interest rates climbed, their payment rose to 23 million VND. The situation worsened when her husband lost his job, forcing them to rely solely on her income. Similarly, Đỗ Quang Trung, who borrowed 1.5 billion VND, saw his interest rate jump from 7.5% to 13.5%, increasing his monthly significantly. Many young buyers share the same struggle, with some borrowing more money to .

Experts suggest implementing long-term, low-interest loans to ease financial burdens on young homebuyers. Increasing the supply of affordable housing and providing

could also help property prices and make homeownership more accessible for young families.