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Investing In Condotel Development: It Should Take Into Account The Synchronous Infrastructure Connection

Condotel development invest

It must be noted that although Vietnam has been in Vietnam for more than five years now, the Condotel has spread to coastal tourism hot spots such as Da Nang, Nha Trang, Phu Particularly in 2017, this unique market welcomes the large supply of Condotel and demand is also hot.

However, besides the concern about profitability, the legal framework for the development of condotel should also pay special attention to environmental sustainability to attract customers.

With the rapid development of Condotel, Huong Tran Kieu Dung – Vice Chairman of the Board of Directors of FLC shared, according to statistics, 2016 transactions 12 thousand apartments condotel, 3 more years to 17 thousand. Meanwhile, the number of investors who have the capacity to develop Condotel is not much. Dung said, investment Condotel is the trend and attracted investors smart. Accordingly, “for Condotel profitability, FLC calculates, the occupancy rate of 40-50% ensures a 10% return for the customer each year; If we fill up 60% or more we are profitable. Peak season, fill rate of FLC up to 90%, the low season low. The investment of each company different so different customer interests. With famous resorts, the filling of 40 – 50% is not too difficult, “- said Ms. Dung.

condotel development invest
Space project Condotel Phu Quoc

For Condotel, the biggest challenge now is connecting the infrastructure, legality and planning of this new potential real estate management. It can be seen, legal issues are being invested. Investors condotel and customers are quite worried. This issue was also discussed by Pham Van Thuong – Head of Real Estate Management – Department of Housing Management and Real Estate Market (Ministry of Construction), after the Association comments to the Ministry of Construction on the legal basis Property Condotel, Ministry of Construction has reported to the Prime Minister. The prime minister then handed over 3 sets. The Ministry of Construction is assigned the task of developing this type of standard, MONRE whose task is to build, manage and own assets on land. The Ministry of Finance will prepare a financial management framework for the development of this model. Upcoming, the legal basis of these types is taken into account more clearly.

However, Hoang Nhan Chinh, the head of the Tourism Board Secretariat, said that people had talked about investors, secondary investors and the legal framework for Condotel, but he wanted to. The market develops sustainably in the other direction.

According to Chinh, tourism has developed very well over the past time. In 2016, there are 62 million domestic passengers, more than 10 million international visitors. However, when presenting in the Private Sector Forum, we have discussed with the Government, directly the Prime Minister, the tourism wants to achieve such Resolution 08, it is necessary to focus on developing markets with revenues. High entry and stay long term.

For now, it seems that the state management agencies, the new tourism concentrated in number, not focused on quality. Condotel coincides with our desire to focus on high paying and long-term clients.

Second, the international experts said that the challenge for Vietnam’s tourism industry is to provide infrastructure and visa for international tourists who are not well-ventilated and are concerned about the sustainability of the environment.

Condotel development invest
Vinpearl Condotel Ngo Quyen Da Nang Vinpearl Condotel is a new type of real estate and is likely to thrive in the future especially in the cities.

Mr. Chinh also said that the development of Condotel co-develop the tourism industry in Vietnam. “I would like to emphasize that Vietnam is ranked 117/136 in the world in a sustainable investment environment, and we do not think about the environment, we do not know 10 years later, many tourist sites are still good.” In addition, Chinh analysts, international tourists are most concerned about the sustainable environment in the resort. If the tourist for international visitors sees the impact on the environment they will boycott, not come. When doing sea tourism, this should be taken into consideration, however, international visitors highly appreciate the value of Vietnam’s natural and cultural resources.

In fact, while going to the resort, we forgot about culture. International arrivals often follow households, with children, they rate Vietnam resort is not interested, not many cultural activities. Of course, recently some businesses and resorts have paid attention to this issue, “said Chinh.

Mr. Hoang Nhan Chinh recommended the survey, not annual, also every two years, assess the needs of what customers need what. Currently, the GSO survey shows that 30% of visitors want to come back to know the needs of guests, they want something to meet.

When making a product, investors must also consider what is appropriate. I also note that the resort is seasonal. For example, the current time is very optimistic about the room rate is high but may change in the near future. There are some areas of high season calculation, how to make suitable products such as attract more MICE guests (conference) “- Chinh said.

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Investing In Condotel Development: It Should Take Into Account The Synchronous Infrastructure Connection
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