Illustrative photo (Photo: VNA)Hanoi (VNA) – The real estate sector reported a reduction of 1.45trillion VND (63.6 million USD) in inventory in February from December, 2016 toan estimated 29.6 trillion VND (1.3 billion USD), according to the Departmentof Housing and Real Estate Management under the Ministry of Construction.
Most of the inventory is residential land for projects located far from citieswith insufficient infrastructure. This land totalled more than 3.5 millionsquare metres, worth some 13.6 trillion VND (596.5 million USD).
This was followed by town houses with 3,726 units worth 8.1 trillion VND (355.3million USD). Unsold apartments stood at 3,613 units, equivalent to 5.2trillion VND (228 million USD). Inventory in commercial land was nearly 697,000square metres valued at 2.6 trillion VND (114 million USD).
Unsold properties in Hanoi were estimated at 5.538 trillion VND (242.89 millionUSD) while Ho Chi Minh City saw total inventory value of 5.518 trillion VND (242.02million USD).
To ensure transparency in the market, the two cities have announced propertyprojects qualified to sell property. From September, 2015 to February, 2017,some 54,512 apartments were available in Hanoi while 32,420 units were eligiblein Ho Chi Minh City.
The Department also said that transaction prices were stable in the two citiesthanks to abundant supply.-VNA
VNA
