Property stockpile 77% below peak

Property inventories totaled more than VNĐ 二 九. 五 trillion (US$ 一. 二 billion) as of February  二0, dropping by nearly  七 七 per cent from its peak in the first quarter of  二0 一 三, statistics of the Ministry of Construction showed.— Photo batdongsan.com.vn

HÀ NỘI — Property inventories totaled more than VNĐ 二 九. 五 trillion (US$ 一. 二 billion) as of February  二0, dropping by nearly  七 七 per cent from its peak in the first quarter of  二0 一 三, statistics of the Ministry of Construction showed.

Nearly half the inventory value were in Hà Nội and HCM City.

Inventories were mainly in suburb areas with inadequate infrastructure  

Successful transactions dropped slightly in January, the month of Tết, the national biggest holiday.

There were  一, 三00 successful transactions in Hà Nội, a decrease of  七. 一 per cent over the previous month and  一, 四00 in HCM City, declining  三. 四 per cent.

Purchases were mainly on mid- and high– end apartments.

Dương Thùy Dung from CBRE Việt Nam said that the market was shifting its focus toward affordable homes this year. — VNS