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VNREA: Jan-Jul housing transactions in city double
Saigon Times - 8/28/2015 8:28:32 AM
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The Vietnam National Real Estate Association (VNREA) reported that the volume of successful housing transactions in HCMC in the first seven months of this year doubled the figure in the same period last year.

According to VNREA, there were about 10,500 successful property transactions in HCMC from January to July with the number in July alone up 3% over the previous month to about 1,750 deals.

People preferred homes measuring 27-50 square meters each and costing VND750 million (US$33,270) to VND1 billion each, mainly in districts 9, 12, Thu Duc and Nha Be.

Housing transactions in Hanoi City also improved with 1,800 successful deals recorded in July alone or representing a 3% increase over the previous month. In all, successful transactions in the first seven months in the capital city totaled 11,050.

Most of the housing products sold in Hanoi in the period were apartments. Selling prices at projects at convenient locations, and half-done and completed projects rose by 4-6% compared to previous months.

Besides, prices of attached houses and villas on the secondary market inched up in parts of Hanoi, according to the association.

Rising demand sent inventories down. By the end of July, the total value of real estate inventories nationwide had been nearly VND63.75 trillion, down by VND1.53 trillion against June this year.

Residential land lots accounted for a majority of the total inventories, estimated at 7.8 million square meters worth nearly VND25.5 trillion. Apartments were followed with 11,984 units valued at a total of VND18.37 trillion, low-grade houses with 8,790 units valued at less than VND15.3 trillion, land for commercial purposes with 1.6 million square meters costing around VND4.55 trillion.

By the end of July, the value of housing inventories in Hanoi dropped by nearly VND312 billion compared to June to more than VND8.11 trillion while that in HCMC declined VND584 billion to over VND11.99 trillion.
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