The real estate market has seen improvements, with an increase in transactions and a slow-down in falling prices, the Vietnam Investment Review (VIR) reported.

More than 1,500 successful transactions were reported in the first quarter in Hanoi, double the number recorded during the same period last year. In the first 15 days of April, more than 800 transactions were reported.

According to Nguyen Tran Nam, Deputy Minister of Construction, a range of projects had seen remarkable increases in sales, including Vingroup’s Royal City and Times City, Hoa Phat Group’s Mandarin Garden, Thang Long Number One, 175 Nguyen Trai and Victoria Van Phu.

Land and villa sales have also seen modest increases this quarter compared to zero sales during the same period last year.

“These figures reveal that Hanoi’s real estate market has seen positive movement with increasing transactions. In many projects, inventories have been reduced,” Nam said at a meeting of the National Steering Committee for Housing Policy and Real Estate Market held recently in Hanoi.

Nam added that the most sought after projects were located within Ring Road 3, and most of customers bought houses/ flats for live not for speculattions.

“This shows the fact that the market is now healthier, for both developers and buyers,” he claimed.

The same positive signs have been seen in Ho Chi Minh City. The ministry said that more than 1,000 successful transactions were also reported in the first two months of this year. In Ho Chi Minh City, affordable houses in suburban districts 8, 9, Thu Duc and Binh Chanh are proving the most popular purchases.

In Ho Chi Minh City’s neighbouring provinces, where the land price is 30 to 50 percent lower than the city's, customers are interested in the Long Hau residential area in Long An province.-VNA