Many real estate projects offering apartments and housing lots at affordable prices, around 1 billion VND (47,000 USD) each, are being introduced at the 2015 Home Expo, which opened in Ho Chi Minh City on May 27.

The expo aims to create a transparent market in order to promote property sales as well as investment in the field.

Chairman of the Vietnam Real Estate Association Nguyen Tran Nam said real estate transactions saw strong increases in the two major cities of Hanoi and Ho Chi Minh City in the first five months of this year, while prices also rose slightly by 1-3 percent, helping to reduce the inventory by 47 percent.

Director of the municipal Department of Construction Tran Trong Tuan said the event was held in the context of positive signs in the economy. The city has over 11,000 start-up businesses in the past five months, including more than 2,600 operating in the field of construction and real estate.

Organised by the municipal Real Estate Association and Trade Promotion and Service JSC, the expo will run until May 31.-VNA