Tuesday, August 22 2017

VietNamNews

Property stockpile 77% below peak

Update: February, 25/2017 - 11:14
Property inventories totaled more than VNĐ29.5 trillion (US$1.2 billion) as of February 20, dropping by nearly 77 per cent from its peak in the first quarter of 2013, statistics of the Ministry of Construction showed.— Photo batdongsan.com.vn

HÀ NỘI — Property inventories totaled more than VNĐ29.5 trillion (US$1.2 billion) as of February 20, dropping by nearly 77 per cent from its peak in the first quarter of 2013, statistics of the Ministry of Construction showed.

Nearly half the inventory value were in Hà Nội and HCM City.

Inventories were mainly in suburb areas with inadequate infrastructure  

Successful transactions dropped slightly in January, the month of Tết, the national biggest holiday.

There were 1,300 successful transactions in Hà Nội, a decrease of 7.1 per cent over the previous month and 1,400 in HCM City, declining 3.4 per cent.

Purchases were mainly on mid- and high– end apartments.

Dương Thùy Dung from CBRE Việt Nam said that the market was shifting its focus toward affordable homes this year. — VNS

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