Real estate inventory tapers off in April
The real estate sector reported a reduction of nearly VND3.4 trillion (US$152.5 million) in inventory in April, from the previous month, to an estimated value of VND41.5 trillion (US$1.86 billion).
According to the Department of Housing and Real Estate Management under the Ministry of Construction, the highest inventories were recorded in residential and commercial land for projects located far from cities with insufficient infrastructure. They were estimated at more than 6.3 million square metres and valued at VND21.5 trillion (US$964 million).
This was followed by town houses with 6,179 units worth VND11.5 trillion (US$515.7 million). Unsold apartments stood at 5,959 units, equivalent to nearly VND8.5 trillion (US$381.1 million).
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Unsold properties in Hanoi were calculated at VND6.1 trillion (US$273.5 million), a decline of VND125 billion (US$5.6 million) from March. Most of the inventory was in town houses with 2009 units, while the apartment segment witnessed a sharp fall in its inventory with only 187 units in stock.
Meanwhile, the total inventory value in Ho Chi Minh City was VND7.7 trillion (US$345.3 million), falling VND607 billion (US$27.2 million) from last month, mainly in the apartment segment with 3,089 units worth VND5.3 trillion (US$237.7 million), followed by residential land with 264,629 square metres worth VND1.2 trillion (US$53.8 million). Town house inventory was calculated at 297 units (US$37.3 million) while commercial lands were at 34,318 square metres (US$19.6 million).
