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Vietnam's real estate inventories down 21.8 pct in 2014

Xinhua, January 13, 2015 Adjust font size:

Vietnam's real estate inventories saw a decrease of 21.8 percent in 2014 compared to that of the previous year, according to Vietnam's Ministry of Construction on Tuesday.

The country's real estate market has experienced positive recovery over 2013. In 2014, the country's real estate sector witnessed uptrend in number of transaction and lower inventories, said the ministry.

As of Dec. 15, 2014, the inventories of real estate market stayed at some 73.889 trillion Vietnamese dong (around 3.46 billion U.S. dollars).

In 2014, as many as 11,450 real estate transactions were conducted in Vietnam's capital Hanoi, two times higher than that in 2013.

Meanwhile, in southern economic hub Ho Chi Minh City, around 10, 350 transactions were made successfully, an increase of some 30 percent over 2013, reported state-run radio Voice of Vietnam.

Vietnamese real estate market has faced with many difficulties in the past years. A new law on housing taking effect in mid-2015 is expected to help boosting the market as foreigners will be allowed to own house in the country since then. Endi