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Real estate
Jan 07, 2019 / 11:33

Vietnam property inventories plunge to US$992 million as of end-2018

Linh Pham

The value went down 82.24% from the peak in the first quarter 2013.

Vietnam’s real estate inventories declined to VND22.83 trillion (US$992 million) as of December 20, 2018, falling 10.07% on year. 
 
Illustrative photo
Illustrative photo
The value went down 82.24% from the peak in the first quarter 2013, the Ministry of Construction said at a meeting on January 4, without giving no details about the inventories.

The ministry added that as of December 20, 2018, Vietnam consumed and exported a total of 95 million tons of cement, up 12% on year, produced 705 million sq.m of ceramic tiles, five million sq.m higher than the volume in 2017. 

In 2018, property developers built roughly 58 million sq.m of houses. The area of affordable housing totaled 290,000 sq.m. 

So far, the average housing area is 24 sq.m per person.

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