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Da Nang: “The Waves” Condotel Massively, Why The Rate Of Absorption Is Still High?

Condotel waves

Savills Vietnam Co., Ltd has just released a report on the property market in Da Nang, whereby the absorption rate of the condotel market is quite high, reaching about 70%.

According to the report of Savills, the apartment and condotel market in Da Nang has been stable lately. The market has only one new openings project in the first half of 2017. Similarly, the market for condos for sale also has a new open sale project which results in a 3% increase in total apartment supply per year.

The average absorption rate of apartments for sale is about 33%. Average selling price reached $ 1,690 / sqm, down from the same period last year. In the second half of the year, two projects are expected to supply about 1,200 units to the market.

Condotel waves
In the second half of the year, the market is expected to have 45 villas

Meanwhile, the absorption rate of the condotel market is quite high, reaching about 70%. According to Savills Vietnam, the prestige of the investor, the program of commitment to profits and advantages near the sea are factors to promote real estate investment in Da Nang. In particular, pledged pledges of up to 12% per year and pledges from acquirers recently attracted many customers.

It is forecasted that major condotel supplies mainly from domestic investors will be available in the second half of 2017 and 2018.

In the segment of resort villas, the rate of absorption is quite good. The total supply of resort villas is 801 units, of which the primary supply is 169 units. Specifically, Ngu Hanh Son district has the largest supply of 728 units, equivalent to 91% market share, followed by Son Tra district with 73 units (9% market share).

Savills said that in the first six months of 2017, the market absorption rate reached 81%, seven projects sold out. Prestige investors, committed to profit and advantage near the sea are the main success factors.

Regarding the sale price, Savills reports that the villa has been fully furnished with furniture ranging from $ 650 to $ 3,000 per square meter. In the second half of the year, the market is expected to have 45 villas.

You are reading the article “Da Nang: “The Waves” Condotel Massively, Why The Rate Of Absorption Is Still High?” in the section “Real Estate News” on the website: realestatevietnam.com.vn
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Da Nang: “The Waves” Condotel Massively, Why The Rate Of Absorption Is Still High?
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