Property inventories drop by 17%
Real estate inventories were estimated at VND25.7 trillion (US$1.13 billion) at the end of November, according to the Housing and Real Estate Market Management Department under the Ministry of Construction
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| Unfinished villas in Hanoi. |
Inventories in housing land accounted for nearly 50% of the stockpile value with more than 3 million square metres worth VND12.3 trillion, followed by inventories of low-rise houses with 3,082 units worth around VND6.9 trillion and apartments with 2,862 units worth VND4.1 trillion.
Commercial land inventories totaled more than 580,400 square metres worth VND2.34 trillion.
Hanoi had an inventory of VND5.3 trillion, dropping by 68.8% against the first quarter of 2013. The inventory value in Ho Chi Minh City was estimated at VND4.7 trillion as of November, dropping by 83%.
