DNVN - With the recovery of the condotel segment and the increase in the supply of luxury apartments, the Da Nang real estate market is on the rise, especially thanks to tourism .
Expected profits from apartments and condotels
Data from Batdongsan.com.vn shows that condotels in Da Nang are seeing increased interest, with prices ranging from VND40 million/m2 to over VND100 million/m2. In the first 10 months of 2024, condotel prices in Da Nang increased by 22% compared to the same period last year.
At the event "Vietnam Real Estate Market Overview 2024 and Da Nang Highlights" organized by Batdongsan.com.vn on November 13 in Hanoi, Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan.com.vn, commented: "The potential of condotels in the future depends largely on the tourism advantages of each locality. Markets with tourism potential, good infrastructure and investment support policies will be attractive destinations for investors".
With its favorable geographical location and synchronous development, Da Nang is expected to continue to attract investment cash flow from tourism real estate products.
Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan.com.vn said that Da Nang is expected to continue to attract investment capital from tourism real estate products.
Mr. Ha Nghiem - Director of Batdongsan.com.vn's Da Nang branch assessed that the trend of buying apartments for "surfing" has decreased, instead the purpose of buying for living and long-term rental is increasing. This trend is a positive sign, showing that the Da Nang market is gradually stabilizing and developing more sustainably.
Expectations for profits from condotels and luxury apartments in Da Nang come from the strong development of tourism, with rental price growth reaching 28.3% in the fourth quarter of 2024. In particular, the Da Nang market is attracting strong interest from investors outside the province, especially Hanoi and Ho Chi Minh City. In the third quarter of 2024, the search rate for condotels and apartments in Da Nang among Hanoians increased by 30%, while that from Ho Chi Minh City increased by 20%.
"The Da Nang market has seen strong growth in condotel value thanks to the increasing number of tourists, creating conditions for investors to potentially make a profit from leasing," said Mr. Nguyen Quoc Anh.
Luxury apartments lead the market
Along with condotels, luxury apartments in Da Nang also recorded good growth. Data from Batdongsan.com.vn shows that the selling price of luxury apartments in Da Nang has increased significantly, reaching 55-80 million VND/m2 for the high-end segment and from 90 million VND/m2 for the luxury segment.
Mr. Tran Xuan Moi - Founder of ATM Consulting and Management Company, commented: "Da Nang deserves to be the capital of branded real estate thanks to its beautiful natural advantages, modern infrastructure, and international titles such as 'Worth living city' and 'Top most beautiful beaches on the planet'.
Thanks to the synchronous development of infrastructure and its position as a famous tourist destination, Da Nang is emerging as the "capital of branded real estate" with the participation of international brands such as Nobu, Hyatt, Marriott and IHG.
Ms. Truong Thi Hong Hanh - Director of Da Nang Department of Tourism, shared: "The development orientation of Da Nang is to create high-quality tourism products, to enhance the local brand and meet the needs of high-end tourists. We prioritize high-end and super luxury products to increase sustainable value for the tourism industry".
Thanks to these development orientations, Da Nang continues to attract high-quality real estate projects, expected to bring sustainable profit value to investors in the context of stable growth of tourism and local economy.
With the recovery of the condotel segment and the increase in the supply of luxury apartments, the Da Nang real estate market is on the rise, especially thanks to tourism. This is the foundation for expected profits and motivation for investors in the next phase.
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Source: https://doanhnghiepvn.vn/kinh-te/bat-dong-san/suc-hut-tu-condotel-va-chung-cu-cao-cap/20241113015646693
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