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Savills Vietnam Company Limited has just released a report on the property market in Da Nang. It emphasizes the growth of the real estate and resort segment.
Total hotel supply was about 9,030 rooms, up 5% on a quarterly basis, with four official 3 and 4 stars. The average occupancy rate increased by 4 points compared to 2015. The average rental price increased by 18% due to the increase in prices of all segments. Average room occupancy increased by 26% compared to 2015.
It is expected that in 2017 there will be nine hotels with the standard 4 to 5-star offering about 2,200 rooms that will enter the market.
Supply of resort villas in the fourth quarter of 2106 reached 774 units from 14 projects. Of these, 153 are still in the primary market. The biggest supply of Da Nang is Ngu Hanh Son district with 728 units from 12 projects, followed by Son Tra district with 46 units from 2 projects.
According to Savills Vietnam, the prestige of the investor, the program of commitment to profits and advantages close to the sea are factors to increase and promote the investment resort property in Da Nang.
The statistic, the total supply of hotel apartments reached about 3,910 units from 10 projects. Son Tra district is leading in terms of supply with 50% market share, followed by Ngu Hanh Son district with 44% market share.
Total supply of apartments for sale reached 3,495 units from 15 projects. Savills Vietnam said that the pledged profits from pre-sales programs in many hotel-condominium projects and the APEC 2017 event will help boost the sales of hotel apartments.
While real estate and condominium growth, Da Nang office supply is only about 85,000sqm from 24 projects, down 2% year on year due to a 1,000sqm project being withdrawn from the market.
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