Vietnam real estate marks successful 2017

Tuesday, 2018-01-09 11:39:35
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Vietnam sees increased transactions of apartments (illustrative image)
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NDO/VNS - Vietnam witnessed positive development in the real estate market in 2017 with increased transactions of apartments and reduction in real estate inventory.

According to the National Financial Supervision Commission’s report on financial markets in 2017, the market did not see much change in property prices last year.

Prices mainly increased in the segments of high- and mid-end apartments. Prices rose by 3-10% for some high-end apartment projects in the urban area having convenient location, synchronous infrastructure, construction as per schedule and reputable investors, as well as attractive sales and promotional policies.

The price of high-end apartments increased at the fastest rate of 7-10%, while it rose 5-7% for mid-end apartments and 3-5% for affordable apartments.

In the domestic market in 2017, trading volume increased significantly compared with 2016, the report noted. The high- and mid-end apartment segments witnessed the highest trading volume. The number of successful transactions was estimated to reach 68,000 units.

Meanwhile, the report said real estate inventory of Vietnam was some VND25.7 trillion (US$1.13 billion), a reduction of 17% compared with December 2016. Hanoi and Ho Chi Minh City continued to be the cities with the largest real estate inventories, accounting for 40% of the country’s total inventory.

In 2017, the credit flowing into real estate trading and construction activities decreased slightly, accounting for 15.8% of the total credit.