According to DKRA Vietnam, in Q1, two new projects were introduced, providing 188 beachfront villas, or 31 percent of the previous quarter. The consumption level was 42 percent of the new supply. Primary supplies were mostly in Binh Thuan and Ba Ria-Vung Tau provinces. In condotel market segment, two new projects were put up for sale in Q1, which provided 1,751 condotels to the market, a sharp 12-fold increase over the previous quarter. Primary supplies were mostly in Khanh Hoa province and Da Nang. DKRA Vietnam commented that the figures showed the recovery of the condotel market after one year of quiet. It predicted that condotel and resorts would continue rising in Q2, especially in Da Nang, Khanh Hoa and Phu Quoc. Observers believe that now is the time to pour money into tourism real estate projects because of the tourism boom. Reports from Vietnam National Administration of Tourism (VNAT) all show the strong rise of Vietnam’s tourism in recent years with the annual growth … [Read more...] about Tourism real estate faces challenges as oversupply looms
Resort real estate huatulco
Resort real estate
Tourism growth is considered a main contributor to the development of resort real estate, which is becoming an attractive investment channel in the country. The number of international visitors to Vietnam recorded an average growth of 27 percent in the last two years, and Vietnam is one of the countries with the highest growth in East Asia. (Photo for illustration) The momentum is fuelled by the rapid development of infrastructure, low-cost airlines; e-visa registration programme for 40 countries and visa exemptions for five European countries; domestic consumption; and the Government’s moves to encourage and promote tourism, and contributions from private investors. According to Mauro Gasparotti, Director of Savills Hotels Asia Pacific, Vietnam is transforming from a destination with few options of accommodation and entertainment into an attractive destination for luxury tourism that is able to attract tourists back. More and more domestic and foreign … [Read more...] about Resort real estate
Resort real estate – highlight of Vietnam’s property market in 2019
Illustrative image (Source: VNA) HCM City (VNA) – The future looks bright for Vietnam’s real estate sector, especially the resort segment, which is attracting attention from both domestic and foreign investors. Tourism growth is considered a main contributor to the development of resort real estate, which is becoming an attractive investment channel in the country. The number of international visitors to Vietnam recorded an average growth of 27 percent in the last two years, and Vietnam is one of the countries with the highest growth in East Asia. The momentum is fuelled by the rapid development of infrastructure, low-cost airlines; e-visa registration programme for 40 countries and visa exemptions for five European countries; domestic consumption; and the Government’s moves to encourage and promote tourism, and contributions from private investors. According to Mauro Gasparotti, Director of Savills Hotels Asia Pacific, Vietnam is transforming from a … [Read more...] about Resort real estate – highlight of Vietnam’s property market in 2019
Resort real estate 2019: emerging markets
In 2017, the resort real estate market segment was mostly focused in areas designed to be economic zones such as Phu Quoc, Van Don and Van Phong. In 2018, the ‘hottest spots’ of the market were in Quang Binh, Quang Tri, Quang Ngai, Phan Thiet, and Ha Tien, which remain untapped. Real estate experts all said they can see a strong rise of some markets empowered by the state’s big investments in infrastructure. A series of important transport works connecting areas have been implemented, which have lured big realtors who bring multi-billion dong projects. Huge projects have turned once-neglected land areas, poor in infrastructure and services, into potential resort markets. Experts have predicted that a new wave of investment into infrastructure in the areas of Cua Tung, Cua Viet, My Thuy and Vinh Thai in Quang Tri province is coming. It is estimated that over US$3 billion worth of capital would be poured into airports, highways and seaports. TPI Polene Power … [Read more...] about Resort real estate 2019: emerging markets
Real estate poised for positive 2019
Vietnam continues its rapid development with a slew of new property types springing up in recent years, Photo: Le Toan According to the Foreign Investment Agency under the Ministry of Planning and Investment, real estate business ranked second in size since early this year, with total registered capital of $6.5 billion in 87 new registered projects. “With foreign direct investment (FDI) being funneled into the real estate sector, Vietnam remains an attractive destination for real estate investment in 2019 and beyond. It is because the demand for residential real estate, industrial zone infrastructure, trade centres, and resort real estate remains high,” said Nguyen Tran Nam, chairman of the Vietnam Real Estate Association. According to the country’s housing development strategy, the average housing area of the nation will reach 25 square metres per capita by 2020. To achieve this goal, 100 million sq.m of new housing will be built each year, 70 per cent of which … [Read more...] about Real estate poised for positive 2019