Housing indexes in the fourth quarter of 2013 in two key markets of Hanoi and Ho Chi Minh (HCM) city saw slight reduction in both prices and inventory ratio, reported Savills Property Consultancy Company.
Specifically, from the first quarter of 2009 to the second quarter of 2011, Hanoi’s property price index increased by 38.7 percent, then fell continuously until the present. In the fourth quarter of 2013, it was at 100.7 percent, dropping 2.6 percent quarter on quarter and 14 percent year on year.
Throughout the year, Hanoi’s inventory ratio continued to fall. The inventory ratio in the fourth quarter of 2013 was at 89 percent, falling by 2 percent against the previous quarter. Compared to its peak in the fourth quarter of 2012, the inventory ratio fell by 7 percent. However, it rose by 69 percent compared to the fourth quarter of 2010.
In HCM city, the residential index for the fourth quarter of 2013 stood at 88.7 percent, down slightly by 0.1 index point quarter on quarter and 0.9 index points year on year.
The overall absorption rate was 11 percent, decreasing slightly by 1 percent but increasing by 3 percent year on year, due to a slight decrease of 7 percent in transactions quarter on quarter. There was a significant increase of 48 percent year on year in transaction volume.
In the coming quarters, transactions are expected to continue to increase and the residential index should to become stable./.
Source : CPV