Real estate inventory drops in January
The real estate sector reported a reduction of VND1.75 trillion (US$78.2 million) in inventory in January from last month to an estimated value of VND49.1 trillion (US$2.2 billion).
The highest inventories were recorded in residential land with over 6 million square metres worth more than VND20.8 trillion (US$930.1 million), followed by town houses with 7,474 units valued at VND13.27 trillion (US$593.5 million). Unsold apartments were calculated at 7,520 units worth VND10.6 trillion (US$474 million) while that of commercial land was at over 1.5 million square metres, equivalent to nearly VND4.4 trillion (US$196.8 million).
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| Illustrative photo (Source: VNA) |
Unsold properties in Ho Chi Minh City were valued at VND9.5 trillion (US$424.9 million), a decline of VND621 billion (US$27.8 million) from December 2015. Most of the inventories were seen in apartment segment with 3,952 units (VND6.7 trillion), town house with 399 units (VND1.1 trillion) and residential land with 265,000 square metres (VND1.2 trillion).
Meanwhile, Hanoi saw a total inventory value of VND6.56 trillion (US$293.4 million), falling VND191 billion (US$8.5 million) from the previous month, mainly in town house inventory with 2,129 units worth VND6.26 trillion (US$279 million). However, thanks to good liquidity, low inventory was reported in apartment segment with 268 unsold units worth VND299 billion (US$13.4 million).-The real estate sector reported a reduction of VND1.75 trillion (US$78.2 million) in inventory in January from last month to an estimated value of VND49.1 trillion (US$2.2 billion).
The Department of Housing and Real Estate Management under the Ministry of Construction said that vibrant transactions in the real estate market have tapered off property inventories in the month.
The highest inventories were recorded in residential land with over 6 million square metres worth more than VND20.8 trillion (US$930.1 million), followed by town houses with 7,474 units valued at VND13.27 trillion (US$593.5 million). Unsold apartments were calculated at 7,520 units worth VND10.6 trillion (US$474 million) while that of commercial land was at over 1.5 million square metres, equivalent to nearly VND4.4 trillion (US$196.8 million).
Unsold properties in Ho Chi Minh City were valued at VND9.5 trillion (US$424.9 million), a decline of VND621 billion (US$27.8 million) from December 2015. Most of the inventories were seen in apartment segment with 3,952 units (VND6.7 trillion), town house with 399 units (VND1.1 trillion) and residential land with 265,000 square metres (VND1.2 trillion).
Meanwhile, Hanoi saw a total inventory value of VND6.56 trillion (US$293.4 million), falling VND191 billion (US$8.5 million) from the previous month, mainly in town house inventory with 2,129 units worth VND6.26 trillion (US$279 million). However, thanks to good liquidity, low inventory was reported in apartment segment with 268 unsold units worth VND299 billion (US$13.4 million).
