Property inventories totaled more than VND29.5 trillion (US$1.2 billion) as of February 20, dropping by nearly 77 per cent from its peak in the first quarter of 2013, statistics of the Ministry of Construction showed.— Photo batdongsan.com.vn

Property inventories totaled more than VND29.5 trillion (US$1.2 billion) as of February 20, dropping by nearly 77 per cent from its peak in the first quarter of 2013, statistics of the Ministry of Construction showed.

Nearly half the inventory value were in Ha Noi and HCM City.

Inventories were mainly in suburb areas with inadequate infrastructure

Successful transactions dropped slightly in January, the month of Tet, the national biggest holiday.

There were 1,300 successful transactions in Ha Noi, a decrease of 7.1 per cent over the previous month and 1,400 in HCM City, declining 3.4 per cent.

Purchases were mainly on mid- and high– end apartments.

Duong Thuy Dung from CBRE Viet Nam said that the market was shifting its focus toward affordable homes this year. — VNS