The real estate inventories increased significantly in the four quarter of 2020 over a year ago because many projects were in stagnant progress due to the impact of the COVID-19 pandemic, legal bottlenecks and limited financial capacity of the developers.
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.
Property inventories totaled more than VND29.5 trillion (US$1.2 billion) as of February 20, ping by nearly 77 per cent over its peak in the first quarter of 2013, statistics of the Ministry of Construction showed.
The domestic coal industry has been facing a difficult business
environment, which caused a build-up of large coal inventories in the
first half of this year.
Sugar inventories in the first half of this year rose 56,430 tonnes over
last year to 548,940 tonnes, according to the Ministry of Agriculture
and Rural Development.
Real estate inventories have slumped more than 15 per cent from figures reported in the first quarter, according to a statement by Deputy Minister of Construction, Nguyen Tran Nam.