According to a recent report of Savills Vietnam, in the first two quarters of 2019, Da Nang condotel market had an absorption rate of 90%. In particular, the selling price of this type in the secondary market ranged from 2,100 - 4,800 USD per m2.
According to this research unit, the market for hotel apartments in Da Nang currently records a total of 15 projects both old and new, of which Ngu Hanh Son District held a 50% market share. The market can welcome 14 more projects that would open for sale from the second half of 2019.
Although the condotel basket showed signs of cooling down, the number of hotel rooms in Da Nang was escalating. The hotel supply reached about 15,400 rooms from 121 3-5 star hotels, up 20% year on year. In the first half of 2019, the market had approximately 2,000 hotel rooms, the market capacity decreased by 3 percentage points year-on-year and the average room rate decreased by 9% year on year.
According to statistics, international visitors to Danang in the first half of 2019 reached 1.8 million, up 26% year on year - a high growth rate. Besides, the domestic demand is very stable: 2.5 million visitors, an increase of 8.3% year on year. The accessibility of air routes in recent years has been helping Da Nang to easily separate tourists and market orientation for medium-high-class objects.
According to Savill, from the second half of 2019, more than 8,000 rooms will be put into operation, meeting the growing demand of this marine tourism industry.
According to Ha Vy