The volume of successful real estate transactions in Hanoi and Ho Chi Minh City during the first quarter of 2015 increased nearly three times from the figures recorded in the same period of last year, hitting 4,250 and 3,950 transactions, respectively, according to statistics from the Ministry of Construction.

Hanoi has recorded 1,500 successful trades so far this month, up 25 percent from February, while Ho Chi Minh City reported 1,400 transactions, a 30 percent increase.

Thanks to high liquidity, property inventory nationwide continued to drop, valuing at around 70.7 trillion VND (3.25 billion USD) as of late March, a 45 percent reduction or a 57.8 trillion VND drop from the first quarter of 2013.

At the same time, nearly 11 trillion VND worth of loan contracts have been sign under the 30 trillion VND social housing credit package, up 15.8 percent from the figure at the end of 2014. Of the loans, 6.28 trillion VND has been disbursed, a 33.3 percent increase after three months.

Deputy Minister of Construction Nguyen Tran Nam said production and business activities in construction and property showed signs of recovery during the reviewed period, while housing prices remained stable.

Property trading floors across the country are bustling with a series of new offered projects.

Experts said Vietnam’s real estate will be an attractive investment channel for foreign investors this year, especially as Vietnam joins the Trans-Pacific Partnership agreement and signs other free trade agreements which are expected to open additional opportunities in the field.-VNA