15:37 (GMT +7) - Monday 05/12/2016

Property

Da Nang villa market sees strong Q4 performance

Released at: 11:44, 16/03/2016

Da Nang villa market sees strong Q4 performance

Savills report notes solid sales at Vinpearl Da Nang 2 pushed absorption rate up 14ppts in final quarter of last year.

by Hoang Thu

In the fourth quarter of 2015 the villa absorption rate in central Da Nang city increased 14 percentage points (ppts) quarter-on-quarter, to 66 per cent, due to the impressive sales performance of Vinpearl Da Nang 2, according to the latest report from real estate consultants Savills Vietnam.

Villa Performance, Da Nang, Q4/2015

Source: Savills Vietnam

The apartment market saw slow sales in the quarter, with absorption falling 19 ppts from 31 per cent in the third quarter.

Apartment Performance, Da Nang, Q4/2015

Source: Savills Vietnam

Most active projects have entered into the final phase of sales with gradually slowing sales velocity, according to the report.

There were no new villa or apartment projects in the quarter. The primary market had eleven projects providing 572 villas (down 21 per cent quarter-on-quarter), accounting for 48 per cent of total stock. Ngu Hanh Son district remained the top supplier, accounting for 69 per cent of total stock.

The primary market in apartments also had eleven projects providing 412 units (down 32 per cent quarter-on-quarter), accounting for 13 per cent of total stock. Hai Chau and Son Tra districts dominated, with a 96 per cent market share.

Reputable developers, attractive sales policies, and proximity to the beach were key contributors to good villa sales in the quarter, according to Savills. Projects with guaranteed minimum annual return also had better sales performance relative to others.

Ngu Hanh Son district tops future villa supply while Hai Chau district tops future apartment supply. Following positive market sentiment it is expected that projects along the coast will launch in the first half of 2016.

  • TAGS
  • Da Nang
  • villa market
  • Q4
  • strong performance
  • Savills

User comment (0)

Send comment