MoC report reveals an improving real estate market in 2015.
A recent report from the Ministry of Construction (MoC) painted Vietnam’s real estate sector in a positive light in 2015, especially regarding property inventory and the disbursement of the government’s VND30 trillion ($1.4 billion) housing credit support package.
The property inventory was estimated at nearly VND50.9 trillion ($2.29 billion) as at December 20, 2015, a fall of 42.3 per cent compared with the same period of 2014 and down 60.4 per cent compared with 2013.
Factors such as price stability and increasing liquidity were also evidence that the real estate market was in recovery mode, the report noted.
The number of housing transactions rose significantly during the year, primarily in the small- and medium-sized apartment segment and some mid- and high-end projects.
In Hanoi there were 19,350 successful transactions conducted, an increase of 1.7-fold compared with 2014, while Ho Chi Minh City saw 18,700 successful transactions, an increase of 1.8-fold.
The market’s structure also changed, with 63 projects converting 42,000 apartments from commercial housing to social housing.
The total capital lent under the government’s support package stood at VND27 trillion ($1.21 billion) as at the end of the year, with VND17.7 trillion ($796.5 million) disbursed.
Capital lent to purchasers was VND19.2 trillion ($864 million) and VND7.7 trillion ($346.5 million) went to enterprises.