Week 45/2024 – Central Vietnam Real Estate News Summary

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   1. Resort Real Estate Market Recovers Strongly In The Secondary Market.

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1. The article explores Vietnam’s resort real estate market recovery following the challenges of the COVID-19 pandemic. As domestic and international travel resumes, demand for resort properties is rising, driven by an increasing interest in vacation properties tailored for leisure and relaxation. This trend is especially pronounced in coastal regions like Da Nang, Nha Trang, and Phu Quoc, where new projects are being launched.

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   Investors are gradually returning, attracted by high-end amenities and integrated resort developments that cater to evolving consumer needs, including spas, restaurants, and entertainment options. However, obstacles persist, such as legal complexities around land ownership and zoning, as well as a limited supply of new projects, which may impact long-term stability in the sector.

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   Looking forward, experts are optimistic, anticipating sustained growth supported by government policies to boost tourism and investment. The article underscores a promising outlook, encouraging investors to explore emerging opportunities in Vietnam’s recovering resort real estate market.

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Source: batdongsan.com.vn

2. Real Estate Prices Rise 30-50% In The Area Of Trump Group’s $1.5 Billion Golf Resort And Urban Complex Investment In The First Half Of 2024″.

In early 2024, real estate prices in Hung Yen, Vietnam, have risen by 30-50%, fueled in part by a $1.5 billion project from the Trump Organization. This project, developed in partnership with Kinh Bac City Development Corporation (KBC), will feature a high-end complex with a golf course, hotels, and residential areas. The Trump Organization has experience in similar developments globally, including Asia, where it owns golf courses and commercial properties.

Hung Yen’s real estate market has shown strong growth, with stable transaction rates and a 25-30% increase compared to 2023. The province has benefited from industrial zone investments, infrastructure improvements, and its proximity to Hanoi, drawing investor attention. This shift reflects a broader trend of investors moving beyond urban centers to provinces with development potential, notably along economic corridors like Hung Yen.

Source: cafef.vn

3. Vietnam’s Real Estate Market Shines With Diverse Investment Opportunities In Q3 2024.

According to Savills’ Q3 2024 Asia-Pacific Investment Quarterly (APIQ) report, Vietnam’s stable economy has fostered growth across several real estate sectors, including retail, hospitality, office, and residential spaces. Notably, AEON Mall has continued its expansion with a new center in Huế and plans for large projects in Thanh Hóa and Biên Hòa. Meanwhile, international tourism has seen a surge, with hotel developments projected to add around 49,800 rooms by 2028, primarily in high-end segments.

While residential real estate remains quiet, affordable housing projects like TT AVIO in Bình Dương aim to boost demand. Major projects, including Vinhomes Global Gate in Hanoi, are set to launch soon, signaling strong residential interest. In the office market, new developments in Ho Chi Minh City and Hanoi will add significant office space by year-end.

Experts highlight that a more transparent regulatory environment, following new laws effective in August, is attracting foreign direct investment (FDI) across multiple sectors. Troy Griffiths of Savills anticipates a 6.1% economic growth in Vietnam for 2024, with FDI and a strong industrial real estate sector propelling development, especially in industrial zones which have reached an 80% occupancy rate.

Source: cafef.vn

4. 4 Regulations Overseas Vietnamese Need To Know When Buying Houses And Land In Vietnam.

Vietnamese expatriates, or Việt Kiều, have specific conditions to meet when purchasing property in Vietnam. According to the 2023 Housing Law, Vietnamese expatriates may acquire property if they satisfy residency and identification requirements. This enables eligible Vietnamese nationals residing abroad to own property in Vietnam, provided they meet these conditions.

Qualified expatriates receive a Certificate of Land Use Rights, House Ownership, and Assets, which verifies their legal ownership rights. Expatriates who maintain Vietnamese citizenship can buy land directly, while those without citizenship are limited to purchasing housing attached to land within development projects.

For those who fulfill residency requirements, their names can be registered as property owners on Vietnam’s official ownership certificates, known as Sổ đỏ (red book) and Sổ hồng (pink book), confirming their full ownership rights. These regulations provide a secure pathway for Vietnamese expatriates to invest in the country’s real estate market, offering legal assurances and clarifying the scope of property ownership for overseas Vietnamese.

Source: luatvietnam.vn

5. Nobu Danang Received Great News, Paving The Way For The Strong Rise Of High-end Resort Real state.

As one of the few resort projects licensed for construction, Nobu Danang not only affirms the reputation of Ban Viet Real Estate – VCRE, but also marks the revival cycle of the Da Nang real estate market.

Projects with transparent legal ownership, prime locations and strong new brands like Nobu Danang have become bright spots, paving the way for the return of the resort apartment type, in its most complete version. Besides the license, Nobu Danang is also located in the future administrative center planning area to become a new urban symbol, with an impressive height of 43 floors – 186m, expected to be completed in 2027.

The attraction of Nobu Danang is not only in its golden coordinates, but also in its scarce quantity, with only 264 resort apartments with 100% sea view.

Source: www.24h.com.vn

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