Realty inventory drops 40 percent compared to beginning of 2013

Statistics by the Ministry of Construction shows that total value of realty inventory of the whole country by November 20 saw a sharp fall to around VND77.81 trillion.

Total value of realty inventory fell by VND50.74 trillion, or 39.47 percent, compared to the first quarter of last year, by VND16.65 trillion compared to December last year, and by VND2.76 trillion compared to that on October 20 this year.

Of which, property inventory in apartment segment was at 15,774 units, worth VND24.11 trillion, while that of low rises was at 13,058 units, worth VND21.34 trillion. The inventory of residential land was more than 8.6 million square meters, worth VND27.8 trillion, and the inventory of commercial land was at 1.64 million square meters, worth VND4.55 trillion.

Ho Chi Minh City and Hanoi posted the sharpest reduction in real estate inventory. In Hanoi, property inventory was at about VND9.69 trillion, down VND7.37 trillion compared to the first quarter of last year, VND3.28 trillion compared to December last year, and VND225 billion compared to that on October 20 this year. Meanwhile, that of Ho Chi Minh City was at VND14.91 trillion, a decrease of VND13.83 trillion, VND2.56 trillion, and VND406 billion compared to the first quarter of last year, December last year and October 20 this year, respectively.

By Ha Phuong – Translated by Thuy Doan

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