Week 46/2021 – Central Vietnam Real Estate News Summary
In this weekly or sometimes bi-weekly news flash – CVR: Central Vietnam Realty will provide a choice of articles from mainly Vietnamese media sources related to the real estate market in Vietnam.
We will be focusing on issues related to Da Nang and Hoi An, while also looking at national news and their possible impact on Central Vietnam’s property market.
You will find a summary, a link to the source as well as CVR’s take on the article.
We believe that local knowledge is the key to making the best possible decision and that’s what we offer to all our clients.
“CVR: Western Management – Local Knowledge”
1. Strange things are happening in the real estate market?
There is a market segment that has been dormant for many years and is now driving up prices. There are regions where land transactions are rushed, with 80 percent of properties sold in less than a month….
People who decide to buy are likewise tired and frustrated because the market is unstable and buyers are also chaotic.
Regarding the project land segment, many developers do not sell, only a few projects are offered to sell, so the market is well welcomed when the number of sellers (real estate sales) is higher than buyers,
making the project’s liquidity happen in a short time.
Talking about the auction land segment in the provinces, this is the segment that has attracted the attention of many investors over the past time. The reason is that the auctioned land has good legal status.
Along with that, a number of provinces that were ahead in auctions such as Bac Giang, Thanh Hoa… were attended by many investors, including investors with a moderate amount of capital… that is, creating crowd psychology.
Meanwhile, many potential investors are interested in ‘bottom fishing’ in the resort property.
In large urban areas in Hanoi, there are now many ‘hunters’ and land prices have increased sharply.
Providing an analysis of a series of market segments, the investors found this is a difficult time to judge the market’s trend because the real estate market is currently “chaotic”. And the buyer has more difficulties when making decisions about what to invest.
With invaluable local and regional market knowledge, an extensive professional network, and an up-to-date database of properties for sale, our team of experts will guide you through every step of the homebuying process. Whether you are interested in an apartment, condo, or single-family home, the CVR team will help you find a property that works for you. Contact our sales team today!
2. What are the factors customers are most interested in when investing in real estate today?
Looking forward to finding a place to live, but many buyers are annoyed by dozens of problems during the construction process, come to receive houses to live in, and then wait for the pink book to be issued. In particular, the core issues come from 3 factors: construction quality, legal documents and handover materials.
Build quality. This is a factor that ensures the sustainability of the project in the long run. The quality of construction is not only determined by the materials, but also by who the construction unit is (experience, high technology, operating capacity, …). The choice of construction unit almost determines the quality and progress of construction.
Legal documents. Up to now, there are many projects that have not been completed legally and are still open for sale.
Handing over materials. There are many projects handing over finished houses, but the materials handed over are not the same or have the same nature as the commitment, surprising buyers. To avoid these cases, the buyer needs to pay attention from the very beginning to how the contents of the Sale and Purchase Contract about the handover materials are binding.
It is important because there are many apartment projects that are not yet eligible for sale but still conduct transactions, posing many potential risks to customers.
3. Exploding real estate supply after the epidemic, which segment to pour money into?
The article analyzes 3 real estate segments expected to be recovered the fastest in the near future.
New supply in the apartment segment is expected to increase slightly in Q4,2021. The resales market is not yet active and this also affects the purchasing power of the primary market. However, in general, experts predict that purchasing power will also increase slightly. Especially mid-range apartments will always be searched and selected by those planning to buy a home.
Land plots in suburban provinces
According to experts, land plots in suburban provinces are still the top priority of investors due to the low budget. It may not be as exciting as the first period of 2021, but there will still be a significant amount of transactions, especially in localities with key transport infrastructure projects.
Resort real estates
Although this segment has been going through an extremely difficult year, there will be many opportunities in the coming time. Because people’s travel needs are like a compressed spring, when the pandemic passes, it will immediately explode.
Entering 2022, the pressure to increase prices will be huge. In particular, from the second quarter of 2022 onwards, when the economy recovers and Vietnam reaches the goal of universal vaccination, real estate prices will increase.
Why it is important:
In this context, buyers are having the upper hand over sellers in every segment. And now is the best time to get the best deal before prices start to increase in 2022!
Should you need any assistance, do not hesitate to contact CVR.
4. Phu Quoc welcomes the first delegation of ‘vaccine passports’ to Vietnam
On November 20, Phu Quoc will welcome the first international tourist group. 209 Korean tourists to Phu Quoc will open the pilot program “vaccine passports” to mark a new step in efforts to recover the national tourism industry after nearly 2 years of “freezing” due to Covid.
Guests will experience a 4-day 3-night stay at Vinpearl with a self-contained itinerary from the flight to the resort.
After welcoming the first group on November 20, Phu Quoc is expected to welcome 20 international flights per month in the coming period.
Why it is important:
Considered as the opening event for the pilot program of “vaccine passports” in Phu Quoc in particular and Vietnam in general, this will be an important launch step, marking a new step in efforts to revive the tourism industry. national calendar, towards step-by-step opening up and economic development in the new context.
Interested in investing in Vietnam? We cooperate with local and international brands to offer our clients the best opportunities available. Contact our sales team for more information today!
5. What “leverage” helps the real estate market recover after the pandemic?
The 4th outbreak of the Covid-19 pandemic with complicated developments caused the economy in general and real estate, in particular, to be severely impacted and damaged. The policy mechanism is considered one of the “levers” for the real estate market to recover after the pandemic:
The State has given drastic directions through many resolutions and decisions such as Decision 27/2021/QD-TTg dated September 25, 2021 of the Prime Minister on the reduction of land rent in 2021 for residential buildings. subjects affected by the Covid-19 epidemic.
In addition, the Ministry of Construction has also issued many new legal documents in the field of construction and real estate such as Promulgating regulations on management and use of apartment buildings. Accordingly, this Regulation applies to apartment buildings with residential purposes and mixed-use condominiums for living and other purposes; Circular guiding the implementation of a number of contents of the Housing Law
Why it is important: The above positive information is like sharing difficulties with businesses and solving problems in the market. Therefore, the real estate market that is being heavily affected by the Covid-19 pandemic is expected to welcome new winds in the near future.
CVR is here to help you understand the trends of the market so you can make the best investment decisions. Our experience, highly regarded reputation and strong legal knowledge keep us at the forefront of the real estate industry. Interested in learning more about opportunities in Central Vietnam? Contact the CVR team today!
6. Diversify new resort real estate models in Danang
In addition to reopening to international visitors, new tourism trends such as staycation and workation are adding to the attraction of resort real estate in Danang.
The trend of staycation, work is in the trend
The actual survey of many market research firms shows that the Covid pandemic has had a significant impact on the enjoyment, investment and standards trends of many people. Adults put first priority in the search for a healthy, close-to-nature life with many amenities so that they can enjoy life and work results, and can also start long-term counseling . Following that trend, resort real estate meets safety and health-oriented criteria and satisfies the growing demand for an “all-in-one” experience.
According to the representative of Savills Hotels Asia Pacific, up to 85% of domestic tourists, especially the younger generation (Millennials and Gen Z) love the trend of travel to experience staycation (travel without having to go). away) and workation (long vacation combined with working days), especially in the context that many companies still continue to maintain the mode of working and meeting online at home instead of going to the office.
This trend has paved the way for trendy, creative and trendy resort models, to meet the needs of the “All-in-one ” experience of tourists and the owner’s requirement for a second home for investors.
Danang resort real estate is vibrant again
When Vietnam opens the window with new normal status, the project will get a wave of travel back. Danang is also selected as one of the first five cities welcoming international tourists. As a result, Danang will have the opportunity to recover the green industry in the shortest time.
As Da Nang continues to develop into a major economic center and international destination, CVR can help you find suitable real estate that fits your specific needs whether it’s for a business or new home. Interested in learning about opportunities in Central Vietnam? Contact the CVR team today!
As always, CVR is at your service and happy to provide help anyways we can!
Contact Us today to find the real estate investment in Da Nang which is right for You
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