HANOI, March 7 (Xinhua) -- Vietnamese real estate market has experienced a slight decrease in the number of deals from late 2016, despite sellers' promotion efforts.
According to the Ministry of Construction's Housing and Real Estate Market Management Agency, deals concluded in February also witnessed significant drop in number compared to the previous month, reported Vietnam state-run news agency VNA on Tuesday.
In capital Hanoi, about 850 deals were reached in February, down 34.6 percent month-on-month. The southern Ho Chi Minh City saw a drop of 35 percent to about 900 deals in the same period.
Earlier, sales in January experienced a fall of 7.1 percent and 3.4 percent in Hanoi and Ho Chi Minh City, respectively, from December 2016.
Most deals in Hanoi and Ho Chi Minh City this year have been in midmarket and upmarket segments, said the agency.
According to the agency, the decline in deals is not worrisome since it is the market's yearly pattern for the period after the Lunar New Year holiday, which lowers buyers' demand.
Insiders of the field maintain their optimistic views that stable macro-economic policies of the Vietnamese government would continue to fuel the real estate sector this year.