Vietnamnet.vn
A bubble in resort real estate?
VietNamNet Bridge - The resort real estate market is scorching hot with investors rushing to inject money, but experts warn that the hot growth may not be sustainable.
VietNamNet Bridge - The resort real estate market is scorching hot with investors rushing to inject money, but experts warn that the hot growth may not be sustainable.
The central region, which is considered the ‘resort real estate metropolis’, is also bustling with many investment projects.
In mid-June, KTG Land put the last apartments of its Fusion Suites Da Nang Beach on sale. Beachfront villas with Vinpearl Premium brand in Da Nang and Nha Trang cities are also popular.
Meanwhile, Hung Thinh has begun selling products for the next stages of Golden Bay project in Cam Ranh.
In the north, FLC Group has inaugurated FLC Sam Son, an ecotourism resort complex in Sam Son Town of Thanh Hoa province.
The project developed with investment capital of VND5.5 trillion was put into operation in mid-July.
Meanwhile, Syrena Vietnam - BIM Group launched Lotus Residences in Ha Long Marina urban area in June.
The HCM City beachfront villa market has also heated up with the news that Vingroup received approval from the HCM City People’s Committee to become the strategic partner in implementing the Can Gio sea urban area, a huge project covering an area of 821 hectares.
Rudolf Hever from Alternaty Company said that interest by foreign investment funds in Vietnam’s resort real estate has increased.
He said that resort real estate distributors were now receiving more calls from foreign investors who want to buy second homes.
Phu Quoc Island is the most bustling market. The upgrading of infrastructure there (airport, transport system, electricity and water supply) and changes in policies (a possible casino in the future, international marina, visa waiver policy and economic zone plan) all have helped heat up the market.
When asked if he thinks the resort real estate market has overheated, an expert commented that ‘fever’ and ‘explosion’ were the words usually used for the Vietnamese market, i.e., the market does not have enough time to develop step by step and in a sustainable way based on basic market principles.
Huynh Phuoc Nghia from GIBC, a consultancy firm, also noted that investors need to be cautious amid the current hot development of the resort real estate market.
According to Nghia, Vietnam’s sea urban areas will need one more decade to complete the social and service infrastructure to turn sea tourism potential into reality.
The central region, which is considered the ‘resort real estate metropolis’, is also bustling with many investment projects.
In mid-June, KTG Land put the last apartments of its Fusion Suites Da Nang Beach on sale. Beachfront villas with Vinpearl Premium brand in Da Nang and Nha Trang cities are also popular.
Meanwhile, Hung Thinh has begun selling products for the next stages of Golden Bay project in Cam Ranh.
In the north, FLC Group has inaugurated FLC Sam Son, an ecotourism resort complex in Sam Son Town of Thanh Hoa province.
The project developed with investment capital of VND5.5 trillion was put into operation in mid-July.
Meanwhile, Syrena Vietnam - BIM Group launched Lotus Residences in Ha Long Marina urban area in June.
The HCM City beachfront villa market has also heated up with the news that Vingroup received approval from the HCM City People’s Committee to become the strategic partner in implementing the Can Gio sea urban area, a huge project covering an area of 821 hectares.
Rudolf Hever from Alternaty Company said that interest by foreign investment funds in Vietnam’s resort real estate has increased.
He said that resort real estate distributors were now receiving more calls from foreign investors who want to buy second homes.
Phu Quoc Island is the most bustling market. The upgrading of infrastructure there (airport, transport system, electricity and water supply) and changes in policies (a possible casino in the future, international marina, visa waiver policy and economic zone plan) all have helped heat up the market.
When asked if he thinks the resort real estate market has overheated, an expert commented that ‘fever’ and ‘explosion’ were the words usually used for the Vietnamese market, i.e., the market does not have enough time to develop step by step and in a sustainable way based on basic market principles.
Huynh Phuoc Nghia from GIBC, a consultancy firm, also noted that investors need to be cautious amid the current hot development of the resort real estate market.
According to Nghia, Vietnam’s sea urban areas will need one more decade to complete the social and service infrastructure to turn sea tourism potential into reality.
Dat Viet
BACK TO HOME
.svg){kind=icon}
MORE NEWS
Doha Cup 2023: Vietnam's U23 football team return home with "empty hand"
Vietnam’s U23 team left Doha Cup 2023 with an "empty hand" after a close loss to their Kyrgyz rivals on March 29 (Vietnam time).
VIETNAM NEWS HEADLINES MARCH 29/2023
Government issues details on aid for ethnic minority housing, land reclamation
GDP growth of 3.32% in Q1 nears lowest level in 13 years
Vietnam’s gross domestic product (GDP) grew by 3.32% in the first quarter of the year, higher only than the growth rate of 3.21% recorded in the first quarter of 2020 in the 2011 to 2023 period, according to the General Statistics Office.
Four Japanese banks to provide US$300 million for Vietnamese renewable energy
Four Japanese banks are set to co-finance a total of US$300 million to provide credit lines to power producers using renewable energy in the nation as part of efforts to help the growing country in its decarbonising process.
15 short stories by Vietnamese writer published in RoK
A collection of 15 short stories written by local author Nguyen Huy Thiep were introduced to Korean readers by Wisdom Publishing House in March.
Hanoi’s ancient pagoda in the red-silk cotton tree season
In March, red-silk cotton trees bloom, showing off their beauty at the thousand-year-old Thay Pagoda in Quoc Oai district in Hanoi.
VN Government calls for broad-based measures to help realty sector
The Vietnamese Government has recently urged ministries to take measures to help the realty sector get back on track and sustain its healthy growth.
EC drops health certificates requirement for Vietnamese noodles
The European Commission (EC) has recommended removing Vietnamese rice noodle and vermicelli brands from conditions that require health certificates and 20 per cent random testing at the port of entry.
Ministry of Industry and Trade proposes draft on cross-border trade
The Ministry of Industry and Trade (MOIT) is seeking public comments on a legal draft amending Decree No14 on cross-border commercial activities.
Leaders of aviation firms to be disciplined if employees committed wrongdoings
The Civil Aviation Administration of Vietnam (CAAV) has just released directive 1480, on enhancing smuggling and commercial fraud prevention among aviation employees.
Golden tourism route links six destinations of Vietnam, China
A golden tourism route connecting six destinations of Vietnam and China was launched in Hanoi on March 28, expected to help the two countries enhance cross-border tourism links.
Vietnamese Foreign Minister holds online talks with Chinese counterpart
Minister of Foreign Affairs Bui Thanh Son held online talks with Chinese State Councilor and Foreign Minister Qin Gang on March 28, during which they agreed to intensify all-level exchanges.
Vietnam International Travel Mart 2023 to spotlight cultural tourism
The Vietnam International Travel Mart (VITM) themed “Cultural tourism” will take place on April 13-16 at the Cultural Friendship Palace in Hanoi, featuring 450 pavilions from over 50 localities nationwide, and 15 countries.
Vietnam, ILO sign decent work country programme for 2022 - 2026
The Decent Work Country Programme Vietnam 2022 - 2026 was signed between representatives of the Vietnamese Government, workers, and employers and the International Labour Organisation (ILO) in Hanoi on March 28.
Vietnam vows to control cross ownership in banks
The tightening of control over cross ownership aims to stop crises at banks.
