The local property market saw a doubling of successful transactions inMay, said the Ministry of Construction's Housing and Property MarketManagement Department.
According to the department's report onthe performance of the domestic real estate market in May, successfultransactions in purchasing apartments, especially smaller apartmentsthat offered reasonable selling prices, saw significant growth duringthe month.
Meanwhile, mid-level and luxury apartment projects indesirable locations have attracted many customers who wanted to purchaseand lease them.
In May, Hanoi saw 1,650 successful transactionson the residential market, 5 percent higher than April and nearly doublethe number last month, said the report.
In Ho Chi Minh, 1,600successful transactions were registered, 6 percent higher than April andalso double in comparison with the same period last year.
The segments of residential villas and landed properties also grew in comparison with May 2014.
The ministry said selling prices continued to stabilise in May.
InHanoi, the selling price of most apartments remained stable in May,while the selling price of villas and landed properties saw slightincreases in some locations, Nguyen Manh Ha, head of the department, wasquoted as saying by the Thoi bao Kinh te Viet Nam (Viet Nam EconomicTimes) newspaper.
Meanwhile, the growth in successfultransactions led to a drop in the inventory of properties in thedomestic property market in May, said the report.
By May 20, thevalue of property inventories on the local market dropped by 1.34trillion VND (62.04 million USD) to 67.44 trillion VND (3.12 billionUSD) against the same period last year.
Of this, the value fellby 186 billion VND to 8.68 trillion VND in Hanoi and by 423 billion VNDto 13.1 trillion VND in the HCM City market.
The ministry expectsthat Hanoi will see 1,750 successful transactions on the propertymarket in June and a total of 7,500 successful transactions in the firsthalf of this year – 2.5 times higher than the first half of last year.
HCMCity will also gain 1,700 successful transactions on the real estatemarket in June and a total of 7,050 successful transactions in the firstsix months of this year –2.8 times higher than the first half of 2014.
Thegrowth in the property market was encouraged by credit support andother incentives offered by property enterprises to customers, added thedepartment.
"Sales are expected to remain at a high level in2015 due to a massive improvement in buyers' confidence," Do Thu Hang,Head of Research and Consultancy, said in the Savills Vietnam's reporton Hanoi property market for the first quarter of this year.
Meanwhile,CB Richard Ellis Vietnam, a foreign property service provider in thecountry, said in its report on the Hanoi property market in the firstquarter of 2015 that sales performance was expected to remain positivefor the remaining half of the year, with a resurgence of top-tierdevelopers and projects.-VNA
According to the department's report onthe performance of the domestic real estate market in May, successfultransactions in purchasing apartments, especially smaller apartmentsthat offered reasonable selling prices, saw significant growth duringthe month.
Meanwhile, mid-level and luxury apartment projects indesirable locations have attracted many customers who wanted to purchaseand lease them.
In May, Hanoi saw 1,650 successful transactionson the residential market, 5 percent higher than April and nearly doublethe number last month, said the report.
In Ho Chi Minh, 1,600successful transactions were registered, 6 percent higher than April andalso double in comparison with the same period last year.
The segments of residential villas and landed properties also grew in comparison with May 2014.
The ministry said selling prices continued to stabilise in May.
InHanoi, the selling price of most apartments remained stable in May,while the selling price of villas and landed properties saw slightincreases in some locations, Nguyen Manh Ha, head of the department, wasquoted as saying by the Thoi bao Kinh te Viet Nam (Viet Nam EconomicTimes) newspaper.
Meanwhile, the growth in successfultransactions led to a drop in the inventory of properties in thedomestic property market in May, said the report.
By May 20, thevalue of property inventories on the local market dropped by 1.34trillion VND (62.04 million USD) to 67.44 trillion VND (3.12 billionUSD) against the same period last year.
Of this, the value fellby 186 billion VND to 8.68 trillion VND in Hanoi and by 423 billion VNDto 13.1 trillion VND in the HCM City market.
The ministry expectsthat Hanoi will see 1,750 successful transactions on the propertymarket in June and a total of 7,500 successful transactions in the firsthalf of this year – 2.5 times higher than the first half of last year.
HCMCity will also gain 1,700 successful transactions on the real estatemarket in June and a total of 7,050 successful transactions in the firstsix months of this year –2.8 times higher than the first half of 2014.
Thegrowth in the property market was encouraged by credit support andother incentives offered by property enterprises to customers, added thedepartment.
"Sales are expected to remain at a high level in2015 due to a massive improvement in buyers' confidence," Do Thu Hang,Head of Research and Consultancy, said in the Savills Vietnam's reporton Hanoi property market for the first quarter of this year.
Meanwhile,CB Richard Ellis Vietnam, a foreign property service provider in thecountry, said in its report on the Hanoi property market in the firstquarter of 2015 that sales performance was expected to remain positivefor the remaining half of the year, with a resurgence of top-tierdevelopers and projects.-VNA
