Unfinished villas in Ha Noi. Real estate inventories were estimated at VND25.7 trillion (US$1.13 billion) at the end of November. – Photo dantri.com.vn

Real estate inventories were estimated at VND25.7 trillion (US$1.13 billion) at the end of November, according to the Housing and Real Estate Market Management Department under the Ministry of Construction.

This represented a drop by nearly 80 per cent since the end of 2013 and more than 17 per cent over the end of last year.

Inventories in housing land accounted for nearly 50 per cent of the stockpile value with more than 3 million square metres worth VND12.3 trillion, followed by inventories of low-rise houses with 3,082 units worth around VND6.9 trillion and apartments with 2,862 units worth VND4.1 trillion.

Commercial land inventories totaled more than 580,400 square metres worth VND2.34 trillion.

Ha Noi had an inventory of VND5.3 trillion, dropping by 68.8 per cent against the first quarter of 2013. The inventory value in HCM City was estimated at VND4.7 trillion as of November, dropping by 83 per cent. – VNS