Resort property market remains attractive in 2020
The Vietnamese resort realty market will continue to retain its appeal to both domestic and foreign investors thanks to its good return of investment as well as the tourism boom in the country, according to the Vietnam Association of Realtors.
Illustrative image (Source: VNA)Hanoi (VNA) – The Vietnamese resort realty market will continue to retain its appeal to both domestic and foreign investors thanks to its good return of investment as well as the tourism boom in the country, according to the Vietnam Association of Realtors.
Giving reasons for its optimistic forecast, the association said large-scale projects by prestigious developers are still attracting a huge crowd of investors with a good absorption rate.
The resort property market has benefited a lot from the growing number of tourists and thriving economy, it said in a report, highlighting tourism hot spots will continue to be attractive destinations for investors with long-term vision.
Furthermore, confidence among investors has grown a lot as the legal framework for the resort property products is expected to be detailed this year.
Transactions are forecast to focus on property products with good potential for tourism that are developed and operated by reputable and experienced firms.
Last year, a total 18,425 resort realty products were launched on the market, with 6,697 sold, or an absorption rate of 36.3 percent. Although a decline in the supply of condotels and seaside villas is predicted for 2020, the number of transactions is likely to be higher than the previous year.
The association also said that integrated resort, which is generally defined as a mega-tourism, entertainment and leisure developments that combine hotels, restaurants, convention centres, casinos, theme parks and shopping centres, will attract considerable interest from customers. Additionally, entrusted revenue sharing lease will become a trend in 2020./.
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