The number of resort projects licensed in the central region surges with 37 new projects, six times higher than the previous quarter despite the decrease nationwide. (Photo kinhtechungkhoan.vn)
Hanoi (VNA) - Inventories in the real estate market have been on the decrease thanksto increasing liquidity, according to the Ministry of Construction (MoC).
The ministry recentlyannounced a report on the country’s housing and property market in the thirdquarter of the year.
Statistics from theministry showed the total estate inventories of listed property firms in Hanoiand Ho Chi Minh City by the end of 2019 were estimated at 18.8 trillion VND (809.9million USD). The inventories have been mainly in the high-end segment,condotel, resettlement houses and projects located far from the city centre andin areas lacking synchronous infrastructure.
The MoC added thatfigures from 56 out of 63 cities and provinces showed there were 36,884successful transactions in the real estate market in the third quarter of theyear.
Hanoi and HCM Cityposted 2,966 and 6,722 transactions respectively in the third quarter, up119 percent and 70.6 percent from the previous quarter.
The successfulproperty transactions were mainly in the mid-end segment while the numberof high-end estate transactions fell from the previous quarter.
The ministry said theincreasing number of property transactions in the third quarter was becauseproperty developers have quickly adapted to the new context while closelyfollowing the Government’s support policies after social distancing.
In addition, tourismand resort areas have resumed operations and used promotional programmesto attract local tourists.
The ministry’s reportalso revealed the number of licensed tourism and resort estate projects inJuly-September sharply decreased by 46.7 percent from the previous quarter.
However, the number ofsuch projects licensed in the central region surged with 37 new projects, sixtimes higher than the previous quarter.
In the third quarter,the country had 49 resort projects with 3,772 condotels, 3,505 tourismvillas and 48 officetel apartments.
Notably, no resortprojects in the south were licensed in the third quarter.
The central regioncontinued to be the bright spot in the market segment despite the COVID-19pandemic.
There were 44 newprojects in the region with 3,440 condotels and 3,484 tourism villas while 91 other projects were under construction with 18,652 condotels and 6,065tourism villas.
The northern regionsaw stability without big changes as the number of resort projects slightlyreduced from the previous quarter.
There were fiveprojects with 332 condotels, 46 officetels and 21 tourism villas licensed inthe third quarter, down one project from the previous quarter.
The tourism sector sawrecovery signs at the end of the second quarter and the beginning of the thirdquarter this year as the Government launched the tourism stimulus package,making the number of local tourists surge./.
