Real estate inventories taper off over 16%


November 21, 2017


[VNA] This has dropped to an estimated value of over VND26 trillion (US$1.14 billion).The highest inventories were recorded in residential land. They were estimated at more than 3.1 million square metres and valued at VNĐ12.4 trillion.

This was followed by town houses, with 3,129 units worth over VND7 trillion. Unsold apartments stood at 2,924 units, equivalent to some VND4.2 trillion, while commercial land was at 604,151 square metres, valued at nearly VND2.4 trillion.

Unsold properties in HCM City were at VND4.78 trillion, while Hà Nội saw a total inventory value of VND5.3 trillion.

The Ministry of Construction forecast that housing prices will remain stable in the short term and that the tourism property market will experience robust development in the time to come.

Apartment prices in Ha Noi declined 0.5 per cent from the previous quarter and individual housing segments increased 0.13 per cent.

In stark contrast, apartment prices in the southern hub went up 0.8 per cent; however, luxury units dropped 0.5 per cent in price. Individual housing segments escalated 1.65 per cent from the third quarter.

Celebrity Interview

Exclusive News

Real estate investors look to Southeast Asia
〔THE CHINA POST〕 TAIPEI, Taiwan -- Facing a low-performing local real estate market, Taiwanese investors are reportedly putting their money abroad in up-and-coming development properties throughout Southeast Asia. Two large international real estate firms hosted separate press conferences on Tuesday to analyze the latest trend in real estate purchases. According to Executive Director David Chin (泰啟松) of Asia Pacific International Property, the firm, which specializes in real estate transactions in the Asia-Pacific region, made nearly NT$7.3 billion in sales.