Real estate inventories were estimated at 25.7 trillion VND (1.13 billion USD) at the end of November, according to the Housing and Real Estate Market Management Department under the Ministry of Construction.
Hanoi (VNA) - Real estate inventories wereestimated at 25.7 trillion VND (1.13 billion USD) at the end of November,according to the Housing and Real Estate Market Management Department under theMinistry of Construction.
This represented a drop by nearly 80 percent since the endof 2013 and more than 17 percent over the end of last year.
Inventories in housing land accounted for nearly 50 percentof the stockpile value with more than 3 million square metres worth 12.3trillion VND, followed by inventories of low-rise houses with 3,082 units wortharound 6.9 trillion VND and apartments with 2,862 units worth 4.1 trillion VND.
Commercial land inventories totaled more than 580,400 squaremetres worth 2.34 trillion VND.
Hanoi had an inventory of 5.3 trillion VND, dropping by 68.8percent against the first quarter of 2013. The inventory value in Ho Chi MinhCity was estimated at 4.7 trillion VND as of November, dropping by 83 percent.-VNA
The number of foreigners buying real estate products in Vietnam has increased, but the domestic property market needs policies to attract more foreign investment, according to experts.
Vietnam’s strong economic growth since 2015 has pushed the domestic property market into a thriving and stable development period, said President of the Vietnam National Real Estate Association (VNREA) Nguyen Tran Nam.
Strong economic growth since 2015 has created a thriving domestic property market that is likely to continue next year, said Construction Minister Pham Hong Ha.
Real estate inventories nationwide saw a reduction of over 16 percent as of November 20, from the same time last year, to an estimated value of over 26 trillion VND (1.14 billion USD).
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Unfinished villas in Hanoi.(Source: VNA) 
