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Written by jamesnguyen
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Saturday, 02 January 2010 21:01 |
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Reported in various Vietnamese mainstream media, the tourism property market in central coast of Danang city is emerging. According to a real estate company Savills Vietnam, a number of villa projects are lining up from Son Tra-Dien Ngoc coastal road, Danang up to Hoi An.
The projects are scheduled to be completed within the next few years. A total of 218 villas and 630 apartments are up for grabs from all the development projects. Among some of the big-scale projects are Blooming Tower, Hyatt Regency Danang Resort and Spa, as well as The Ocean Villas.
Besides that, there are also other on-going projects lined along Danang’s beach that offers approximately 7,600 units of apartment which will be completed by 2015. So far, Danang is the third largest city in the country after Hanoi and Ho Chin Minh that is set to have a booming real estate market.
Besides villas projects in Danang, Savills also pointed out that the office market in the city has changed in recent years in order to meet the demands of local and international enterprises. With more foreign investors coming into the country, Vietnam needs to have additional office suites projects.
Even though Vietnam has also suffered from financial crisis early this year, the rents for office spaces are still high and therefore, have resulted in drop of occupancy rate in the last quarter of 2009.
There are many other factors that encouraged the development of additional apartment and villa projects in Danang. One of the main factors is the amendment of a draft bill states that individual foreigners are allow to purchase apartments soon. Government allows them to purchase one unit only and they can sell it off after owning it for a year.
As a result of the draft bill, a number of analysts commented that the property prices in the country will continue to rise in near future.
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Last Updated on Monday, 04 January 2010 16:37 |
