The occupancy recorded in apartments and house was 48% in 2020.
Supply of real estate in Hanoi in 2020 fell 27.4% from 2019 and 58.2% from 2018, according to the city’s Department of Construction.
Hanoi records low occupancy of apartments in 2020. Photo: Pham Hung/Kinhtedothi |
The supply that includes apartments and low-rise houses offered in the market reached 28,818 units.
In the year, more than 13,800 units were reported in transactions, recording the average occupancy rate of 48%.
The agency attributed the decline of both supply and occupancy rate to tightened control over credit for real estate sector, leading to a decrease in transactions among secondary investors.
Economic slowdown and falling income are also reasons hurting the demand and long-term investment in this sector.
In another move, the department said the city finished 89 commercial housing projects in 2020 providing 53,644 units or 6.57 million square meters.
In the upcoming time, the department will focus on several tasks, such as completing the pilot project on repairing downgraded apartment blocks and relocating residents out of dangerous blocks; developing affordable housing segment; selecting investors for new projects; checking land resources for social housing projects; and speeding up commercial and resettlement housing projects scheduled for completion in 2021.
Other News
- Hanoi welcomes 740,000 visitors for Reunification Day and May Day
- Hanoi focuses on cultural and historical tourism
- Record late April heat scorches Hanoi
- Hanoi’s integral role in national unification drive
- 20 new FDI projects set up in April in Hanoi
- Introduction of community tourism area in Hanoi herb kingdom
- Photo exhibition commemorates Vietnamese people's glorious victories
Trending
-
Tran Thanh Man assigned to drive National Assembly activities
-
Vietnam news in brief - May 3
-
Four- and five-star hotels to boom in Hanoi as tourism rebounds
-
Trivial jobs: Hanoians strive to keep their old trades alive
-
Hanoi strives to ensure smooth high school exams
-
Carnaval Ha Long 2024 woos tourists with fireworks and drone light shows
-
Affordable, quality tours offered at Hanoi Tourism Festival 2024
-
Introduction of community tourism area in Hanoi herb kingdom
-
Capital Law revision helps Hanoi promote role as nation’s socio-economic hub