Interest rising in Vietnam's resort property sector.
The resort property market has overcome a difficult period and there are now positive signs in both supply and demand as the year comes to an end.
Along with Da Nang, Nha Trang and Hue are also becoming destinations for second home buyers seeking a higher standard of living. Projects launched in Da Nang and Nha Trang have received positive feedback from potential buyers and recorded promising transaction volumes.
Projects such as Laguna Lang Co in Hue, The Point and The Beachfront Enclave in Da Nang, The Residences at Mia Nha Trang, The Costa Nha Trang, Cham Oasis in Nha Trang, Dai Phuoc Lotus in Dong Nai and Diamond Island in Ho Chi Minh City, which were displayed at the Resort Properties Event organized by Savills on December 6, have attracted much interest from customers.
According to Mr. Nguyen Khanh Toan, the Ho Chi Minh City Research Manager at Savills Vietnam, the recovery of the resort segment stems from increasing incomes and lifestyle changes. “The Law on Housing approved by the National Assembly Standing Committee last month also permitted foreigners to buy a house in Vietnam and this has promoted the development of resort property,” he added.
Resort-style projects adjacent to city centers have also become a trend in the urban resort property market due to good accessibility and high quality. Two representatives of this segment - Dai Phuoc Lotus in Dong Nai and Diamond Island in District 2, Ho Chi Minh City - which were showcased at the Savills event, received many positive comments from visitors.
Speaking with VET, Mr. Toan indicated that resort property projects around urban areas are not new in Vietnam but the development of product lines that are truly resort-style adjacent to city centers and methodically designed are new. “I’m sure that the source of demand in the segment will increase over the next year,” he said.