Real estate inventories in Vietnam witnessed a sharp fall of 26 percent in the first quarter of 2014, said a report by Vietnam's Ministry of Construction Tuesday.

Accordingly, as of Feb. 15, 2014, the value of real estate inventories in Vietnam was down from 125.4 trillion Vietnamese dong (5.94 billion U.S. dollars) in March 2013 to nearly 92.7 trillion Vietnamese dong (4.39 billion U.S. dollars).

However, the report only counted the inventory of the primary market (owner of real estate projects) and not included the secondary market (investors in real estate projects), which cannot reflect the whole picture of the country's real estate situation.

With the secondary market taken into account, the inventory level would be higher, Vietnam Investment Review, an agency of the Ministry of Planning and Investment, quoted the report as saying.

Information released by Vietnam Report, a leading ranking agency in Vietnam, assessed that large number of inventories in Vietnam's real estate sector could be ascribed to the gap between demand and supply. Profiteering activities have paralyzed the rule of demand-supply, pushing up property price far from the real value. Endi

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