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Real estate nudges up in May

Real estate sales rose slightly in May, mainly in the mid- and hi-end segments. — Photo vietnamnet.vn

HÀ NỘI - Real estate sales in May rose slightly month-on-month, compared with the first quarter this year, according to the Ministry of Construction’s Management Agency for Housing and Real Estate Market.

Successful transactions were mostly in the mid- and hi-end segments, while affordable ones were not sold owing to their limited supply.

During the month, Hà Nội recorded nearly  一, 二00 successful deals, up by some  一 四 per cent against last month, raising the five-month volume to about  五, 四00.

In the southern metropolis HCM City, nearly  一, 三00 deals were reached, marking a  一 二 per cent increase. Between January and May, up to  五, 八 七0 transactions were successful.

Brokers said successful deals were mostly those located near downtown. Buyers also take into account transport convenience, facilities, apartment design, payment progress and the appreciation value.

In Hà Nội, major sales were predominant in the southwest, such as The Golden Palm in Thanh Xuân, Gelexia Riverside in Hoàng Mai and Gemek Premium in Hà Đông, which have synchronous infrastructure.

Hi-end projects in HCM City also sold well, such as Vinhomes Golden River Ba Son in District  一 and Hà Đô Centrosa Garden in district  一0.

Low-rise housing in Lucasta Khang Điền in District  二 and Thủ Thiêm Garden in District  九 saw considerable sales.

Tourism and resort properties in coastal localities, such as Đà Nẵng City, Nha Trang City in central coastal Khánh Hòa Province and Phú Quốc in southern Kiên Giang Province, have become attractive to investors at home and abroad.

Unsold properties nationwide were valued at about VNĐ 二 七. 八 九 trillion (US$ 一. 二 三 billion), as of late May, down  一0 per cent from the end of  二0 一 六. The figure declined VNĐ 四 七 四 billion ($ 二0. 八 七 million) from April.

Unsold land for housing accounted for more than  三. 三 七 million square metres worth VNĐ 一 三. 二 trillion ($ 五 八 一. 三 三 million), the biggest proportion of total unsold property value.

It was followed by low-rise housing ( 三, 四 九 二 units worth VNĐ 七. 三 八 trillion or $ 三 二 五 million), condominium apartments ( 三, 三 二 五 units worth VNĐ 四. 八 三 trillion or $ 二 一 二. 七 million), and land for co妹妹ercial purposes ( 六 四 八, 一 四0 square metres worth VNĐ 二. 四 八 trillion or $ 一0 九. 二 million).

Although unsold properties continued to decrease, the rate of decrease slowed down. Most of the unsold land is part of uptown projects lacking infrastructure, the management department said.

The value of unsold real estate in Hà Nội was still higher than in HCM City in May. It was estimated at VNĐ 五. 四 五 trillion ($ 二 四0 million) in Hà Nội and VNĐ 五. 一 八 trillion ($ 二 二 八. 一 三 million) in HCM City, down VNĐ 二 三 billion ($ 一 million) and VNĐ 一00 billion ( 四. 四 million) from April, respectively. — VNS