The rapid change in planning, transport infrastructure helps coastal cities increasingly attract tourists, opening up opportunities for investors.
Vietnam has great potential of coastal real estate
In a report published at the end of 2018, research unit Knight Frank (UK) reported that the global real estate market is currently about 40% higher than the average product compared to the same size, utility, and quality but lost in sight factor. Although it is considered that the market has a slower pace of development than the urban housing market for about 1 year, what the coastal real estate has shown in recent years has not stopped creating surprises for investors.
In 2018 it is estimated that more than 7,800 apartments are traded, the absorption rate is over 92%. Only in the first quarter of 2019, the number of open condotels sold in the southern markets was higher than in the north, the southern provinces, especially from Da Nang, with more transactions.
The coastal real estate market has started taking shape since 2015 with many large projects being implemented. In the first phase, enterprises invest mainly in traditional tourist sites with condotel products and built-in villas. However, starting from the beginning of 2018 until now, the process of expanding the coastal real estate market has shown the shifting trend of investment capital. Instead of pouring capital into traditional markets that are showing signs of saturation, many investors have decided to seek land fund in new markets. This journey has created a momentum for economic development for many localities, especially in the South Central region, which possesses abundant natural resources.
New "sights" of investors
Demand for owning coastal real estate in many segments such as private houses, villas, land plots, condotel... in the market is still very big. However, along with the number of projects appearing more and more, competition pressure is also increasing. Therefore, any enterprise seeking a beautiful land fund, taking advantage of its near-sea advantages, complete infrastructure and transportation systems, a formal investment process... will quickly become the "target" of national investors.
The investment story in Nhon Hoi New City - The project located in Nhon Hoi ecological urban area (Quy Nhon) is considered a typical example. There is no need to organize an opening day, but the project has recorded more than 1,000 bookings for product transactions. In the context that the competitiveness between projects in Quy Nhon is not small, what has created the success for this project?
The perspective of Nhon Hoi New City project
Quy Nhon is considered a coastal city with many potentials for tourism property development. The change in the urban face of Quy Nhon is happening quickly after the coastal city has been continuously invested by real estate enterprises to invest in large resort projects. However, to really create attraction for tourists, especially international tourists, only developing services and utilities within the resorts is still not enough. Quy Nhon market is lacking of commercial centers, concentrated streets to meet the shopping needs to keep visitors long-term stay. Wanting to become an outstanding meeting point on the Vietnam tourist map, Quy Nhon needs to form commercial streets, shophouse is planned carefully.
This has been realized by the investor at Nhon Hoi New City project. With more than 1000 products supplied to the market, investors expect this place to form the largest commercial center in the coastal city. Adjacent to the marine park, flexibility is the factor that creates attraction for Nhon Hoi New City products when fully meeting the investment needs to settle, home stay service business or commodity trading. In addition, the project owner also showed careful preparation when fully meeting the legal requirements, granting the red book separately for each land lot. These are the factors that led the project of zoning in Nhon Hoi ecological urban area to become a "new phenomenon" in Quy Nhon real estate market over time.
According to TTDN