Hotel supply from 3 to 5 stars in Da Nang tend to increase rapidly causing a fever for Da Nang real estate market.
According to Savills Vietnam, the average hotel room price in Da Nang has fallen by 5%, the supply has increased by 7% compared to 2016. Supply and demand continue to trend when the number of tourists to Da Nang stop growing fast.
According to the Department of Culture, Tourism and Tourism, the total number of tourists this year is estimated at over VND5 million. Of which international visitors are over VND2 million, the rest are domestic.
Currently Da Nang Airport is operating 21 flights, in which there are 8 regular daily flights. The number of passengers traveling to Da Nang has increased by 30% over the same period last year.
This is a great demand and it is very convenient for Da Nang to continue attracting capital flowing into the real estate market. Especially the type of resort tourism resorts, hotels, …
This is also evident in the supply of real estate is increasing markedly. According to a report on the market of Da Nang Savills has just announced. Up to now, more than 80 hotels from 3 to 5 stars have been delivered to Da Nang, providing about 9,000 high-quality rooms.
This year, new supply arrivals from three of the hotels are officially listed. Including a 5 star hotel with 285 rooms and 2 3 stars hotel with 140 rooms.
Current status of activities in the market.
The supply of hotels in Da Nang is currently distributed fairly in two main areas. The coastal area of My Khe and the city center, each occupying 50% of the structure.
Aside from that, the resort villa segment does not have a new project, so there is no new supply to the market. This segment is becoming the only real estate developer in Da Nang this year.
According to forecasts of Savills Vietnam, within the next five years, the hotel market will receive 37 more projects, providing an additional 6,370 rooms to the market. This future supply is equivalent to about 90% of total supply at present and causes a great pressure on the market.
According to Ms. Do Thu Hang – Head of Research, Savills Hanoi. Da Nang is still a region with great potential for development.
Because here, convergence full of factors for a rapid development of the property market. From the international airport, to the golf course, casino, beautiful beach, entertainment center, … Along with policies to create conditions for foreigners own real estate in Vietnam. The market will be receiving a large demand, with strong financial base.
Da Nang tourism property is expected to continue stable growth.
In recent years, apartment segment and condotel have become the brightest star in the real estate market Da Nang expressed in sales increased sharply. Although the supply of this segment increased rapidly, the absorption rate remained high at 85%.
This figure is due to the fact that this type of product has a large and diverse supply. The price is very reasonable, just pocket money, the extra level of commitment is very attractive to investors. The above factors have attracted a large number of customers from many objects to buy second homes.
Many surveys have shown that buyers choose condotel products in Da Nang market. Because it is a young, dynamic city, synchronous infrastructure, good living environment, has great potential for tourism.
In the future, condotel is expected to remain in good shape and grow fast. Due to the harmony of many values from relaxation, investment, exploitation and rent to make a profit.
Bring benefits to both the investor and the investor (customer). It should be noted, however, that this type is potentially at risk of overcapacity because supply exceeds demand. So far, there are many large-scale projects offering similar products being built in this market.
But many experts do not agree with the market Da Nang will have over supply. As the development opportunities for the hotel, 4- 5-star resort is still huge. Mining capacity is currently very high (about 70% according to Savills research).
The increase in the number of international flights and the number of tourists to Da Nang has also increased rapidly over the years.
This may be the basis to confirm that: Da Nang resort real estate market is still much more potential development. There will be no over-supply and lead to crisis.
The recent Apec conference will also create the prospect of opening more opportunities for tourism in the city. It is also a great opportunity for Danang resort to develop strong.
In the future, Da Nang will focus more on the development of high-end apartment products. Especially in the northwestern part of the city. This will be the direction of new urban development for the population of the population exceeded this 2 million.
In the first half of this year, we also witnessed a series of moves from foreign investors. Especially Japan, Hong Kong, Korea and Singapore, …
That to see, the demand of the market in the region continue to increase commercial houses, apartments and villas in Da Nang received by domestic and foreign markets.
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