Da Nang property market continues to attract buyers

Live Quote: On

RSS

My Page | Contact Us

RSS

RSS

Company A-Z | Stock Screener | My Portfolios | Streaming Quotes | Technical Analysis

Investing Tools

Useful Links

Sunday, April 28, 2024 1:25:26 PM - Markets open

VN-INDEX

1,209.52

+4.55/+0.38%

HNX-INDEX

226.82

-0.75/-0.33%

UPCOM-INDEX

88.76

+0.43/+0.49%

Da Nang property market continues to attract buyers

vietnamplus.vn - 10/4/2016 3:58:45 PM

(0 ratings. You must sign in to rate.)

Print |

Add To Favorites |

Email |

RSS

The condotel market in the central city of Da Nang had the strongest growth in Quarter 3, according to property service group CBRE Vietnam.

CBRE’s quarter report for Da Nang noted that more than 2,800 condotel units were put on sale in Quarter 3, bringing the total supply to nearly 6,000 units in 2016, with 67 percent in the high-end category.

As of the end of the third quarter, 70 percent of high-end condotel units have been sold while the figure in the mid-end segment is 30 percent, down 4.2 percentage points and 67.9 percentage points, respectively.

Marc Townsend, Managing Director of CBRE Vietnam, said one reason behind the sales slowdown was greater choice for customers, making them more cautious.

The resort villa market did not change much in the past quarter and supply is limited because there are few new projects. 80 percent of resort houses have been sold but no major supply will come on the market in the next quarter.

The number of apartments sold in the quarter dropped by 34 percent from the previous quarter and 47 percent from one year ago, with 85 percent of the sold units belonging to the mid-end segment.

According to the Da Nang Tourism Department, the city welcomed 4.41 million tourists in the first nine months of this year, of which international tourists accounted for 29 percent, an increase of 48 percent from 2015.

With the positive tourism prospects, condotel will maintain stable growth and remain attractive, CBRE said.

Meanwhile, the apartment market saw a 34 percent drop in sales from Quarter 2, the company reported, adding that 85 percent of the sold units were in the mid-end range, and buyers were mostly local residents.

Townsend remarked that the market faced fierce competition from condotel, which attracted investors from Hanoi and Ho Chi Minh City

Newer News
19/04	Ministry requests Hà Nội to inspect rising prices of apartments
17/04	Real estate market has positive performances in Q1: VARS
05/04	Developers must verify with foreign homeowner's database before sales
28/03	Management of real estate brokers to be tightened
23/03	HCM City real estate market to recover in H2
23/03	Industrial real estate emerges out of storm
18/03	Lots of ground to cover to build 130,000 social housing units this year
12/03	Deputy PM urges resolving price manipulation for healthy real estate market
12/03	Limit set on interest rates of loans for social housing
21/02	Experts upbeat about real estate prospects

Older News
01/10	Housing stimulus package disbursement exceeds 86 percent
30/09	86% of housing stimulus package disbursed
27/09	Publicizing mortgaged properties still big question
26/09	Foreign capital flowing to Vietnam’s housing market
19/09	Vingroup has five most valuable brands in Vietnam: Brand Finance
19/09	Central bank refuses cheap loans for builders
17/09	Calls for new property investment law
13/09	VNREA: State budget funds needed to back social housing market
05/09	Rising prices expected for HCMC aparments: report
30/08	VNREA: Real estate inventories drop

Newsletter Signup

Top Stories

	Businesses concerned about rising exchange rate pressure
	Gold bar auction to be resumed after 11 years of suspension
	PM Chính requires strengthened gold market management
	Bank shareholders to receive high dividends, stock bonuses
	Shares sustain gains on strong investor confidence