Business

Real estate inventory drops 22.56 percent

Real estate inventory was valued at over 73.1 trillion VND (3.43 billion USD) as of February 28, a 22.56 percent reduction or a 55.4 billion VND (2.6 billion USD) drop from the first quarter of 2013, according to the latest report released by the Ministry of Construction (MoC).
Real estate inventory was valued at over 73.1 trillion VND (3.43 billionUSD) as of February 28, a 22.56 percent reduction or a 55.4 billion VND(2.6 billion USD) drop from the first quarter of 2013, according to thelatest report released by the Ministry of Construction (MoC).

Statistics indicated that the property inventory included 8.6 millionsquare meters of housing land worth 27.78 trillion VND (1.3 billion USD)and 10,445 houses worth 17.8 trillion VND (835 million USD).

In addition, there are 14,995 apartment units worth 22.9 trillion VND(1.07 billion USD) and 1.6 million square metres of commercial landworth 4,545 billion VND (213 million USD).

The MoC noted that housing prices remain stable, but small apartments prices in prime locations increased slightly.

Liquidity is also low due to the prevalence of suburban and unfinishedprojects with no integrated technical and social infrastructure.-VNA
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