|Customers visit model of a real estate project in HCM City. — VNA/VNS Photo|Viet Nam News
HÀ NỘI — Real estate inventories nationwide saw a reduction of over 16 per cent as of November 20, from the same time last year.
This has dropped to an estimated value of over VNĐ26 trillion (US$1.14 billion). The highest inventories were recorded in residential land. They were estimated at more than 3.1 million square metres and valued at VNĐ12.4 trillion.
This was followed by town houses, with 3,129 units worth over VNĐ7 trillion. Unsold apartments stood at 2,924 units, equivalent to some VNĐ4.2 trillion, while commercial land was at 604,151sq.m, valued at nearly VNĐ2.4 trillion.
Unsold properties in HCM City were at VNĐ4.78 trillion, while Hà Nội saw a total inventory value of VNĐ5.3 trillion.
The Ministry of Construction forecast that housing prices will remain stable in the short term and that the tourism property market will experience robust development in the time to come.
Apartment prices in Hà Nội declined 0.5 per cent from the previous quarter and individual housing segments increased 0.13 per cent.
In stark contrast, apartment prices in the southern hub went up 0.8 per cent; however, luxury units dropped 0.5 per cent in price. Individual housing segments escalated 1.65 per cent from the third quarter. — VNS