More than VND 100 million per m2 of Danang beach villas

Resort villas in luxury projects in Da Nang are offered at $ 4,459 per square meter, new basket of goods less and less.


CBRE Vietnam has just announced the market of Da Nang resort villas in the first 6 months of the year with a very high selling price. The average asking price of luxury beach villas recorded at USD 4,459 per m2, equivalent to more than VND 104 million per m2. For high-end projects, sea villas are offered at US $2,268 per m2 and the mid-end segment reaches US $1,167 per m2.


By the end of the second quarter of 2019, 81.3% of resort villas was sold. The slow growth of this type of real estate is due to limited supply as many old projects have been sold out and very few new projects have been launched. The remaining supply of villas comes from projects that are delayed construction or luxury projects or newly launched projects.


Danang real estate market. Photo: Nguyen Dong


In the first 6 months, Da Nang had only one project offered for sale with 44 villas. This meager basket is quickly absorbed in the first week of sales. The total supply of villas in Danang is 815 units across all segments, coming from 16 projects.


Meanwhile, from the end of June 2018 to the end of June 2019, the Da Nang apartment market has no additional apartment projects. The cumulative total supply is 5,031 units from 16 projects.


Before the legal framework for condotel products is still unclear, upcoming apartment projects in Da Nang receive a lot of attention from investors. The apartment has some points better than condotels such as ownership, long-term use, and household registration while buyers can still enjoy the rental commitment policy from some developers. This meets the needs of both buyers and investors.


According to Vu Le