Real estate inventory tapers off in April
The real estate sector reported a reduction of nearly 3.4 trillion VND (152.5 million USD) in inventory in April, from the previous month, to an estimated value of 41.5 trillion VND (1.86 billion USD)
Residential blocks in the Tu Hiep urban area, Hanoi's Thanh Tri district (Photo: VNA)Hanoi (VNA) – The real estate sector reported a reduction of nearly 3.4 trillion VND (152.5 million USD) in inventory in April, from the previous month, to an estimated value of 41.5 trillion VND (1.86 billion USD).
According to the Department of Housing and Real Estate Management under the Ministry of Construction, the highest inventories were recorded in residential and commercial land for projects located far from cities with insufficient infrastructure. They were estimated at more than 6.3 million square metres and valued at 21.5 trillion VND (964 million USD).
This was followed by town houses with 6,179 units worth 11.5 trillion VND (515.7 million USD). Unsold apartments stood at 5,959 units, equivalent to nearly 8.5 trillion VND (381.1 million USD).
Unsold properties in Hanoi were calculated at 6.1 trillion VND (273.5 million USD), a decline of 125 billion VND (5.6 million USD) from March. Most of the inventory was in town houses with 2009 units, while the apartment segment witnessed a sharp fall in its inventory with only 187 units in stock.
Meanwhile, the total inventory value in Ho Chi Minh City was 7.7 trillion VND (345.3 million USD), falling 607 billion VND (27.2 million USD) from last month, mainly in the apartment segment with 3,089 units worth 5.3 trillion VND (237.7 million USD), followed by residential land with 264,629 square metres worth 1.2 trillion VND (53.8 million USD). Town house inventory was calculated at 297 units (37.3 million USD) while commercial lands were at 34,318 square metres (19.6 million USD).-VNA
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