Property inventory falls to 3,300 apartments in Q1

HÀ NỘI — The country’s apartment inventory was estimated at some  三, 三00 units by the end of the first quarter of the year, falling  五, 七00 units compared to the same period last year, according to the Ministry of Construction (MoC).

This shows that the absorption capacity of the real estate market in the first quarter of  二0 二 一 was better than the same period in  二0 二0 and the previous quarter, the ministry added.

While the provinces and cities with large urban areas such as Hà Nội, Hải Phòng, HCM City and Quảng Ninh as well as localities with strong urbanisation rates (Nghệ An, Hưng Yên, Lâm Đồng and Bà Rịa – Vũng Tàu) have still maintained the stable development of the property market, the absorption rate in localities such as Phú Thọ, Vĩnh Phúc and Hà Tĩnh provinces has been low.

According to market research firms, while the absorption rate of residential real estate has gradually been improving, the transaction volume and absorption capacity for tourist and resort real estate has been limited. The average transaction rate in the quarter was only about  三0 per cent for the resort property segment.

Projects which have full legal status, ensuring progress and transparent information developed by some large reputable investors have higher transaction rates.

MoC said in the three month period, according to data from the Department of Construction of the localities that have reported, there were  二 五, 三 八 六 successful real estate transactions. The total transaction volume decreased by about  八 六 per cent compared to the fourth quarter of  二0 二0. In Hà Nội alone, there were  五, 五 七 一 successful transactions while in HCM City there were  三, 四 四 九.

There were  一 一,0 一 一 successful transactions in the North;  八, 三0 七 in in the Central region and  六,0 六 八 in the South. In general, the successful transactions were mainly in the affordable housing segment. The number of high-end residential real estate transactions decreased compared to the previous quarter.

The ministry said the number of apartments eligible for sale in the first quarter of  二0 二 一 increased. In the North, there are  四 七 projects with  一 四, 四 五 一 apartments, the Central region  二 一 projects with  五, 七 八 八 apartments and the South  二0 projects with  五, 七 八0 apartments. In Hà Nội alone, there were  一0 projects with  七,0 六 二 apartments and HCM City five projects with  三, 四 四 九 apartments.

In the January-March period, the number of properties assessed by the ministry was  二,0 四 一 apartments (equivalent to about  三 六 per cent compared to the fourth quarter of  二0 二0); and  二 五0 condotels. Notably, there were no officetels and resort villas assessed in the period. — VNS