Vietnam's residential property transactions up in May

By：Xinhua Update：2017-06-01

The number of residential property transactions in Vietnam's capital Hanoi and Ho Chi Minh City in May rose 14 percent and 12 percent respectively, against April.

In May, some 1,200 transactions were made in Hanoi, and 1,300 cases in the southern metropolis, according to the Vietnamese Ministry of Construction on Wednesday.

In the first five months of this year, there were 5,400 and 5,870 transactions in Hanoi and Ho Chi Minh City respectively.

Most of the transactions were done in the mid-end and high-end segments, whose supplies dominated the market, while few affordable alternatives were available, the ministry's Housing and Real Estate Department said.

The price continued to be maintained at a constant level across all segments nationwide compared to 2016.

As of May 20, Vietnam's property inventory was reported at 27.9 trillion Vietnamese dong (over 1.2 billion U.S. dollars), down 10.9 percent compared to December 2016, said the department.

The inventory value has gradually decreased from the peak in the first quarter of 2013 (some 5.7 billion U.S. dollars) when the market was flooded with new constructions and slow sales.