Construction ministry releases first quarterly real estate market report

02, Dec. 2019

HANOI, VNS/VNA - The Ministry of Construction (MoC) has just released its first quarterly report on the domestic real estate market.

Nguyen Manh Khoi, deputy director of the ministry’s Housing and Real Estate Market Development Department, said the MoC wants to disclose information to investors, customers and managers, but the process of collecting and collating the information from provinces and cities has been slow.

From now on, the MoC plans to release quarterly reports to ensure transparency for the domestic property market.

According to this report, compiled using information from construction departments in 22 provinces and cities nationwide, in the third quarter of this year, there were 167 housing development projects with 134,668 apartments that had been licensed and were under construction.

There were also 10 projects with 3,184 tourist apartments and 720 villas.

Meanwhile, the number of houses completed in the quarter reached 22,004.

Under the reports from 15 out of the 22 provinces and cities, the market witnessed 48,260 successful real estate transactions, including apartments, houses, land, offices for rent, condotels, resorts/villas and officetels in the third quarter.

Hanoi, HCM City and other localities with developed real estate markets such as Khanh Hoa, Quang Nam, Da Nang, Quang Ninh and Kien Giang, recorded 28,674 successful real estate transactions, up 58.3 percent compared to the second quarter.

The ministry said in the third quarter, real estate prices in Hanoi and HCM City had fluctuated, with the average apartment price rising by 0.21 percent quarter-on-quarter in Hanoi and 0.77 percent in HCM City. - VNA