“It is not until 2017 when Da Nang holds a lot of events does the real estate market prosper, this momentum will continue regardless of the major events are over …. The land rush in Da Nang is a fact, however, customers need to master the planning of each region, each subdivision, should not follow the majority,” said Marc Townsend, former General Director of CBRE.
After APEC event, Da Nang real estate is still attractive
In 2017, Da Nang city has hosted many big cultural-economic-political events, in which the most important one is the APEC Forum expected to take place in the middle of November.
This event created a boom for the real estate market, better attracting domestic and foreign capital to large projects in all segments. There have also been opinions that the attraction of the real estate market in Danang pushed up recently by the APEC event and once this event ends the market will begin to cool down.
Talking about this issue, Marc Townsend, former General Director of CBRE Vietnam assess that Da Nang is attracting investors because the city authority tends to make it become a “Singapore” of Vietnam, when it has implemented many large-scale projects such as the two banks of Han River, Son Tra Peninsula … in addition, a series of modern transport infrastructure projects have stimulated investors to transfer capital flow to this place.
“In addition to the aforementioned factors, Danang is also one of the attractive destinations of domestic and foreign tourists because this place is considered as the city of festival. It is not until 2017 when Da Nang holds a lot of events does the real estate market prosper, this momentum will continue regardless of the major events are over.
Customers and investors see Danang with a long-term vision, profitability remains high due to low land funds, good investing support policies, secured, and most of projects has been launched to the market, only a few investors postpone the project to wait for maturity,” Mr. Marc added.
Many real estate experts having the same viewpoint said that in 2017, the segments of this market will continue to grow strongly and sustainably, especially in resort coastal real estate whose bright spot is that the owner will share profit with secondary investors under the condotel model.
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Destinations of major projects
The most prominent project in the real estate market in Da Nang presently is Cocobay super complex. On July 15th, Cocobay has officially opened the first phase with nearly 1,000 units belonging to the Boutique Hotel chain and classy dining system on the bustling walking street.
The fact that this super complex is going to be put into operation not only attracts large number of real estate investors, but also makes the neighboring projects hotter.
Cocobay has a total investment of more than 11,000 billion on a scale of 31 hectares. Upon put into operation, this project is expected to supply to the market over 10,000 apartments belonging to the component projects such as: Boutique Hotel, Coco Skyline Resort, Coco Ocean –Spa Resort, Cocobay Towers.
Up to now, Boutique Hotel belonging to Cocobay has been put into operation as Muze, Latido, Bisou, condotel chain is also being accelerated to deliver to customers.
Currently, Coco Ocean Resort condotel has been constructed to the 20th floor. Not too far from Coco Oceanline Resort, Coco Skyline Resort – The most exclusive smart condotel has been roofed in July. The tower is expected to be delivered to customers in the first quarter of 2018.
Mrs. Thanh Lich – Deputy General Director of VNG Land real estate trading floor, said: “At present, selling apartment at Cocobay is very easy. Just let your customers visit the project that has put into operation or visit the site, many investors are willing to pour money in the project without convincing. Even before the project is put into operation, many customers have waiting months or draw lots to own apartments in Cocobay.”
A week ago, the owner of the Empire Group announced more 80 last units of Coco Skyline Resort at the price more expensive than the first phase – from 1.4 billion/unit which have also been quickly sold out. When customer owns the apartment in the condotel building, the owner commits to a profit rate of 12% per year for 8 years.
In addition to Cocobay, other projects such as Green Peace, Soleil Anh Duong, Alphanam Luxury are also quite impressive projects attractting customers.
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