The real estate market in the central city of Da Nang is showing positive signs with an increasing number of seaside tourism projects and sales programmes of local residential land lots, a local newspaper reported.

The development of the local tourism sector has helped Da Nang emerge as an attractive destination for real estate investors from home and abroad , said the Da Nang Today Online.

Most notably, many investors have poured their money into developing many seaside tourism projects, from the Son Tra Peninsula to the Marble Mountains. Last year, local seaside villas enjoyed room occupancy rates of over 60 percent during peak times, but they reached 90 percent during the recent Tet (Lunar New Year) festival.

According to VinaCapital Da Nang, the city’s real estate market saw an improvement during the last six months of 2013. This positive sign was mainly attributed to the stability of Viet n am’s macro economy, as well as to the trust of foreign investors in the domestic real estate market. A total of 100 local apartments were sold last year, a 3-fold increase against the previous year.

Developed by the FPT City Da Nang Joint Stock Company, the FPT City urban area project is under construction in Ngu Hanh Son d istrict. The company is a professional urban and real estate project developer.

The city’s residential land market is seeing positive signs of the Hoa Xuan Eco-urban Area project, along with others in Lien Chieu d istrict.

Chairman of the Board of Directors of the Da Nang-Mien Trung Investment Joint Stock Company Dang Thanh Binh said that his company has had good results from the Phuoc Ly Urban Area project. He added that the company launched 3 sales programmes for local residential land lots in late 2013. As a result, about 200 land lots were sold during each programme.

The success of these sales programmes has helped to identify new realistic prices for local residential land lots, as well as to create a competitive environment for real estate investors. According to experts in this aspect, this will help those who are in need of housing now to find it easier to purchase land lots.-VNA