Market records more property sales in January

The domestic property market reported more sales in January compared to December 2017, according to the Ministry of Construction’s Housing and Property Market Management Department. (Photo cafef.vn)

According to the Ministry of Construction’s Housing and Property Market Management Department, the capital city reported 1,650 transactions, an increase of 13.8% and the southern metropolis Ho Chi Minh City had 1,900, a rise of 8.6% over December’s figures.

In Hanoi, many housing projects have been completed and offered with attractive trade promotion programmes. The offerings are in the high- and mid-end segments and are located in convenient places. There are many kinds of area and payment methods can be flexible, the department said.

Some projects had many sales in January, including Season Avenue, Ha Dong; An Binh City-Bac Tu Liem; Sunshine Riverside Tay Ho and Romance Plaza, Ha Dong.

Average offered price of an apartment in January rose 0.14% against the December price, of which, the price surged 0.17% for high-end apartments, 0.05% for mid-end apartments and 0.56% for affordable apartments.

Price of house on land had an increase of 0.24% compared with December.

Liquidity on the HCM City property market also increased in January. High- and mid-end apartment segments reported many sales.

Customers paid attention to apartments having one or two bedrooms and price at about VND1 billion (US$44,000) per unit, but the supply was low.

Projects reporting many transactions included New City Thu Thiem, District 2; Saigon Intela-Binh Chanh District; and Melosa Garden, District 9.

Average selling price increased 0.24% for apartments and 0.81% for house and land.

The price declined 0.05% for high-end apartments, but rose 0.33% for mid-end apartments and 0.5% for affordable apartments.

The department said that by January 20, the value of the property inventory stood at VND25 trillion, a drop of 19% from the previous month.

The value of property inventory in January was VND5.27 trillion in Hanoi, VND19 billion lower than the value in December.

In HCM City, the property inventory was VND4.62 trillion, a fall of VND47 billion.

The department also had a report on development of resort property, the hot spot on the property market.

In the report, the Ministry of Construction appraised 71 "condotel" and "officetel" projects that have been built nationwide since 2015. 

Meanwhile, provincial and municipal authorities have given licences to develop many more projects.

However, many difficulties have arisen over investment, construction, trading and management of operation for those projects, the department said.

Therefore, the ministry has proposed that the Prime Minister direct ministries to solve them.