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Property inventories on the rise during first quarter

Update: May, 18/2013 - 09:08

HA NOI (VNS)— Inventories of apartments nation-wide soared 20 per cent as of March over the figure at the end of last year, reaching more than 33,852 units.

Meanwhile land inventories rose 3 per cent to 1 million square metres.

According to Vu Xuan Thien, Deputy Director of the Real Estate Market and Housing Management, the statistics failed to reflect the real inventories in the property market.

He said that a number of projects which remained unfinished or had not been implemented were still not accounted into the ministry's statistics of property inventories.

There were about 3,700 real estate projects nation-wide currently. The construction ministry would continue to check property projects to eliminate those infeasible.-VNS

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