The professionals supposed that real estate market in Phu Quoc is developing strongly thanks to infrastructure upgradation and improvement: Phu Quoc international airport, international seaport and the renovated and upgraded road axes.
Currently, from the center, the people can move to the two poles – North and South of the island easily. The international airport has just been completed in 2012 to meet the international flights.
The investment attraction of Phu Quoc property thanks to infrastructure development and promotion
Transportation planning and synchronous infrastructure help Pearl Island in attracting strong investment capital and leading to the urban development trend of the country. Phu Quoc plays an important role in promoting sustainable development to aim to the construction Vietnam’s largest island which promises to become the administrative – economic center of the country.
With the synchronous investment in infrastructure, economic and social development, the real estate also increased the value and attracted the interest of large domestic and foreign investors.
How will the construction of the international airport in Phu Quoc affect the real estate market here?
The strong investment of real estate market in Phu Quoc not only thanks to the work of the construction of Phu Quoc international airport but also is the attractive destination – where welcomes 5 million passengers per year to create favorable conditions for the tourism development in the Pearl Island.
Besides, Phu Quoc also released a 30-day visa-free policy for foreign tourists. This policy is extremely attractive for tourists without completing the complex procedure.
In short time, tourism revenue increases 38% every year, while the total the number of tourists increases 61% annually. The world’s longest cable car system and casino system have prepared run into operation in Phu Quoc to help real estate in this place attracting more and more investors.
What do experts say about the potential of the real estate market in Phu Quoc?
According to the real estate professional – Mr. Do Manh Hao – Chief Executive Officer of Phuoc Dien investment joint stock company said: “the real estate market in Phu Quoc is growing well, developing the private advantage to create long-term and stable growth momentum is the important thing promoting the economic development of the region.
Phu Quoc is only known since 2000 when tourism began to develop increased daily flights and facilities to the island easier. Phu Quoc property also heated up from there and the most prominent are the news that Phu Quoc will be planned to become the special economic zone – where has the airport and seaport with international stature.
The real estate market in Phu Quoc become hot thanks to the acumen of Hanoi and HCM investors, they not only like the beautiful island but also see the potential of Phu Quoc.
The digitals and strong capable of Phu Quoc
Meanwhile, the number of tourists to Phu Quoc increases continuously in recent years, an average increase of 24% in 7 recent years.
Recently, the resort real estate market started booming a series of diverse products launched by a variety of large investors, in addition to resort demand, this product is viewed as an attractive lucrative investment property. Moreover, investors are also committed to taking profits from 8% to 10% in years when the owners take part in villa sublease program.
This is one of the new policies which is the first thing applied for this kind of vacation property to create the large attraction.
With a prime location, Phu Quoc connects with big cities in the Asian region by air with the flight time of about 2 hours, so it is very convenient for traveling.
In addition, the island owns also great incentives from nature with year-round warm sunshine, many long and beautiful beaches which are suitable for vacation travel, especially, it has a little influence from nature.
You can view more listings of projects being sold in Phu Quoc: Apartments for sale in Phu Quoc
The important information about the real estate market in Phu Quoc
In Phu Quoc, the property market is becoming bustle with thousands of transactions per day. Brokerage fees in Phu Quoc are defined about 3% for a total contract value of over 45500 USD and 5% for contracts of under 45500 USD.
The investors should choose the companies having good brands to assure the safety after transactions because, in Phu Quoc, there are many “brokers” make the loss of belief of investors.
The property sector is considered as the potential having strong price growth that is the areas near the new international airport, the beach area in the Eastern and Northern Phu Quoc islands such as Ganh Dau, Cua Can, Bai Thom, and Ham Ninh.
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