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Real estate transaction situation according to the Report of the Ministry of Construction

Today, August 3, the Ministry of Construction has sent a report to the Prime Minister on the situation of Vietnam's real estate industry.

(Thu Thiem township, Thu Duc City, HCMC)

Real estate supply

In the 2nd quarter of 2023, the supply of real estate and housing is still limited, only 7 projects have been completed with 2,424 units (852 apartments, 1572 individual houses). The number of housing projects is only 50% compared to the 1st quarter of 2023 and 29.17% compared to the 2nd quarter of 2022. The implementation was delayed or stopped completely due to legal and financial problems.

Real estate transaction volume

According to aggregate data from reports of construction departments nationwide, in the 2nd quarter of 2023, there were 96,977 successful transactions, of which the number of transactions of apartments & individual houses had 29,725 successful transactions, about 75.51% compared to the 1st quarter of 2023 and 43.03% compared to the 2nd quarter of 2022; the volume of transactions focused on the land plot segment with 67,525 successful transactions, equal to 99.98% compared to the 1st quarter of 2023 and 31.57% compared to the 2nd quarter of 2022.

Real estate transaction prices

In the 2nd quarter of 2023, transaction prices of new apartments in some areas in Ho Chi Minh City and Hanoi increased even though the entire real estate market showed signs of slowing down.

The selling price of resort real estate continues to decline, but the decrease is not much compared to end of last year due to the current high cost of capital and high interest rates.

The selling price of villas and land plots continued to decrease by 2-5% compared to the previous quarter. The shophouse segment has dropped the most, up to 15% from the original price and is expected to continue to decrease.

Sao Khue Investment & Trade Promotion Corporation

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