Illustrative image (Source: VNA) Hanoi (VNA) – The resort property sector,especially condotels (condominiums in hotels), have stalled in both supply andtransactions, according to the Vietnam Association of Realtors (VARS).
In the third quarter of this year, Da Nang, Nha Trang, andPhu Quoc recorded no new supply units, except Lanuna project becoming availableon the market. The country’s total condotel transactions were around 1,000units.
The VARS attributed that to the State’s move to tightencapital sources, unclear legal policy for condotels, and the limited capacityof Vietnamese investors in terms of resort property management, thus affecting thetrust of buyers.
At prices of 35-70 million VND (1,520-3,000 USD) per sq.m,buyers have also found it hard to resell.
During the past three quarters, as many as 8,061 units wereput on sale, notably Hyatt Regency Da Nang, Ocean Suite, Olalani, Coco Bay,Muong Thanh, Anfanam, Hoa Binh, and Furama. In the third quarter, up to 294units were made available.
In Nha Trang city in the central province of Khanh Hoa, newsupplies were put on offer by Hudbuilding Nha Trang, Ariyana, and Panarama.
In the third quarter, over 1,000 condotel units were put up onthe market, raising the total to 12,000.
However, only 789 units were sold in Khanh Hoa, a decline fromthe first and second quarter figures.–VNA
In the third quarter of this year, Da Nang, Nha Trang, andPhu Quoc recorded no new supply units, except Lanuna project becoming availableon the market. The country’s total condotel transactions were around 1,000units.
The VARS attributed that to the State’s move to tightencapital sources, unclear legal policy for condotels, and the limited capacityof Vietnamese investors in terms of resort property management, thus affecting thetrust of buyers.
At prices of 35-70 million VND (1,520-3,000 USD) per sq.m,buyers have also found it hard to resell.
During the past three quarters, as many as 8,061 units wereput on sale, notably Hyatt Regency Da Nang, Ocean Suite, Olalani, Coco Bay,Muong Thanh, Anfanam, Hoa Binh, and Furama. In the third quarter, up to 294units were made available.
In Nha Trang city in the central province of Khanh Hoa, newsupplies were put on offer by Hudbuilding Nha Trang, Ariyana, and Panarama.
In the third quarter, over 1,000 condotel units were put up onthe market, raising the total to 12,000.
However, only 789 units were sold in Khanh Hoa, a decline fromthe first and second quarter figures.–VNA
VNA
