Da Nang real estate is preparing to develop sharply

Observing the market in Da Nang in the past can see a common point. It seems that there is a strong wind blowing with good signals are blowing into this market.

However, many experts said that it takes Danang real estate market to return to its most prosperous time.

Although it is only a reference, it can be said that the consultant’s report is a source. With many data is very meaningful, to evaluate a real estate market in general and Da Nang in particular.

In the past, these newspapers on the Da Nang market brought the numbers showing positive.

Da Nang real estate will return to prosperous development in the coming time thanks to the positive impact from the economy.

Growth is noticeable in the market segments

Apartment segment, segment “frozen” for a long time past. Then the bright spots began to reappear.

Savills report showed that in the first half of this year, apartment market in Da Nang brought about good signals. With an absorption rate of 9% (up 4 percentage points from last year).

CBRE also reported similar results. Accordingly, in the first two quarters of 2017, the number of successful transactions was greater and there were also more lodged deposits.

With the land segment is gaining the most attention in the past. Mr. Tran Ngoc Thanh – General Director of Greenland Central said: Up to this point. The company has successfully implemented over 1,000 transactions. That is not to mention the secondary transaction.

The Green City project of Central Greenland Company is a good example of the strong growth of the land segment

Similarly, Dang Thanh Binh – Chairman of the Da Nang Investment JSC – Central also revealed more information: Currently with its Phuoc Ly KD, the company sold more than 30 ground floor each month.

The dynamic of the real estate market in recent years is not something that is difficult to explain. When the projects here are relatively soft price, but also accompanied by the attractive program was attractive.

The Green City project is a prime example. The sale of Villa Ruby Villa in this project. After having sold 300 ground plots in different subdivisions of the project at a cost of only VND501 million.

They also offer a “VIP Ruby” package including: free application for construction and completion. In addition to the package cost to red book and return air tickets, golf card 6 months, …

Find the root causes of development

Explaining the reasons for the rise in the real estate market in Danang, Mr. Do Minh Duong – Real estate experts said that if in the previous years, Da Nang real estate is heavily dependent on speculators and buyers in 2 largest markets in the country.

Now this dependence is almost no big, if not to say no longer. This view of Mr. Yang is also many experts colluded opinion.

Duong Thuy Dung- Deputy Director of CBRE Vietnam affirmed: Local people and customers from neighboring provinces such as Quang Nam, Quang Ngai, Hue, Quang Binh, Quang Tri, … are new people. The main transaction in Da Nang last time, not Hanoi and Ho Chi Minh City as before.

One more explanation is given, the projects have a large success. They all have the commonality of these projects, is located in a beautiful location or close to the residential area has long formed. The distance to the center is not far and near the utility area.

In addition, the infrastructure is synchronous or near completion. Responding well to living needs are easy to convince buyers.

In addition, the real estate market in the country has shown signs of warming up after a long period of freezing. Pulling along the exciting of Danang real estate with many new projects are launched.

Intermediate segment becomes the center of the market.

According to the latest CBRE Vietnam report, the total supply of buildings in the past year increased 3,467 units. Of which the middle segment occupies the largest share with 40%. Followed by the high end segment (37%) and the low end segment (14%).

Mid-end segment occupies the highest proportion of new office space in Da Nang

New supply has pushed average prices of mid-end and low-end projects up 9.3% and 3.2% over last year. Current sales in the high end segment increased by an average of $ 1,696 / m2, 2.2% higher than last year.

Ms. Duong Thuy Dung commented: The initiative to adjust the price, increase the discount rate for customers and offer many different promotional packages. It shows that the developers are doing everything their project has a higher transaction volume. Hopefully the efforts from the developers will meet the expectations of most customers

Most of the units sold in the last quarter were from mid-end projects. This segment recorded the highest growth in average sales (up 2.6 percentage points from the second quarter).

High-end and low-end segment only increased by 0.9 percentage points corresponding to each segment. It is forecasted that Da Nang market will no longer have new supply of apartments and villas for sale in the last 2 months of this year.

As most of the investors are still cautious and projects of the previous year are still in the implementation stage until next year to complete.

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