Real estate inventory drops as market deals taper off
Real estate inventory drops as market deals taper off
The real estate sector reported a reduction of VND1.75 trillion (USVND1,738,386 million) in inventory in January from last month to an estimated value of VND49.1 trillion VND (VND48,906 billion).
The Department of Housing and Real Estate Management under the Ministry of Construction said that vibrant transactions in the real estate market have tapered off in property inventories in the month.
The highest inventories were recorded in residential land with over 6 million square metres (sq.m) worth more than VND20.8 trillion (VND20,676,123 million), followed by town houses with 7,474 units valued at VND13.27 trillion (VND13,193,505 million). Unsold apartments were calculated at 7,520 units worth VND10.6 trillion (VND10,537,020 million) while that of commercial land was at over 1.5 million sq.m, equivalent to nearly VND 4.4 trillion (VND4,374,864 million).
Unsold properties in HCM City were valued at VND9.5 trillion (VND9,445,527 million), a decline of VND621 billion (VND617,994 million) from December 2015. Most of the inventories were seen in the apartment segment with 3,952 units (VND6.7 trillion), townhouses with 399 units (VND1.1 trillion) and residential land with 265,000 sq.m (VND1.2 trillion).
Meanwhile, Ha Noi saw a total inventory value of ND6.56 trillion (VND6,522,282 million), falling VND191 billion (VND188,955 million) from the previous month, mainly in townhouse inventory with 2,129 units worth VND6.26 trillion (VND6,202,170 million). However, thanks to good liquidity, low inventory was reported in the apartment segment with 268 unsold units worth VND299 billion (VND297,882 million).
The Department of Housing and Real Estate Management under the Ministry of Construction said that vibrant transactions in the real estate market have tapered off in property inventories in the month.
The highest inventories were recorded in residential land with over 6 million sq.m worth more than VND20.8 trillion (VND20,676,123 million), followed by town houses with 7,474 units valued at VND13.27 trillion (VND13,193,505 million). Unsold apartments were calculated at 7,520 units worth VND10.6 trillion (VND10,537,020 million) while that of commercial land was at over 1.5 million sq.m, equivalent to nearly VND4.4 trillion (VND4,374,864 million).
Unsold properties in HCM City were valued at VND9.5 trillion (VND9,445,527 million), a decline of VND621 billion (VND617,994 million) from December 2015. Most of the inventories were seen in the apartment segment with 3,952 units (VND6.7 trillion), townhouse with 399 units (VND1.1 trillion) and residential land with 265,000 sq.m (VND1.2 trillion).
Meanwhile, Ha Noi saw a total inventory value of VND6.56 trillion (293.4 million), falling VND191 billion (VND188,955 million) from the previous month, mainly in townhouse inventory with 2,129 units worth VND6.26 trillion (VND6,202,170 million). However, thanks to good liquidity, low inventory was reported in the apartment segment with 268 unsold units worth VND299 billion (VND297,882 million).
