More sales were recorded in the domestic property market in January as compared to figures in December 2017.

 

According to the Ministry of Construction’s Housing and Property Market Management Department, the capital city reported 1,650 transactions, an increase of 13.8 percent and the southern metropolis Ho Chi Minh City had 1,900, a rise of 8.6 percent over December’s figures.

 

In Hanoi, many housing projects have been completed and offered with attractive trade promotion programmes. The offerings are in the high- and mid-end segments and are located in convenient places. There are many kinds of area and payment methods can be flexible, the department said.

 

Some projects had many sales in January, including Season Avenue, Ha Dong; An Binh City-Bac Tu Liem; Sunshine Riverside Tay Ho and Romance Plaza, Ha Dong.

 

Average offered price of an apartment in January rose 0.14 percent against the December price, of which, the price surged 0.17 percent for high-end apartments, 0.05 percent for mid-end apartments and 0.56 percent for affordable apartments.

 

Price of house on land had an increase of 0.24 per cent compared with December.

 

Liquidity on the HCM City property market also increased in January. High- and mid-end apartment segments reported many sales.

 

Customers paid attention to apartments having one or two bedrooms and price at about 1 billion VND (44,000 USD) per unit, but the supply was low.

 

Projects reporting many transactions included New City Thu Thiem, District 2; Saigon Intela-Binh Chanh District; and Melosa Garden, District 9.

 

Average selling price increased 0.24 percent for apartments and 0.81 percent for house and land.

 

The price declined 0.05 percent for high-end apartments, but rose 0.33 percent for mid-end apartments and 0.53 percent for affordable apartments.

 

The department said that by January 20, the value of the property inventory stood at 25 trillion VND, a drop of 19 percent from the previous month.

The value of property inventory in January was 5.27 trillion VND in Hanoi, 19 billion VND lower than the value in December.

 

In HCM City, the property inventory was 4.62 trillion VND, a fall of 47 billion VND.

 

The department also had a report on development of resort property, the hot spot on the property market.

 

In the report, the Ministry of Construction appraised 71 "condotel" and "officetel" projects that have been built nationwide since 2015. 

 

Meanwhile, provincial and municipal authorities have given licences to develop many more projects.

 

However, many difficulties have arisen over investment, construction, trading and management of operation for those projects, the department said.

 

Therefore, the ministry has proposed that the Prime Minister direct ministries to solve them.-VNA