Charm Group said that in the fourth quarter of 2024, it will hand over a large number of townhouses and beach villas at the Charm Resort Ho Tram Project and put into operation the Charm Resort Long Hai Project, with a total of more than 1,000 products handed over.
During the remainder of 2024, Novaland Group will hand over 1,200 townhouses and beach villas of the NovaWorld Phan Thiet Project in Phan Thiet City, Binh Thuan Province. For resort projects in Ho Tram (Ba Ria - Vung Tau Province), Novaland will hand over about 700 units in 3 projects.
Many businesses such as DIC, Nam Group… have also started to build and deploy sales in resort real estate projects in Binh Thuan and Ba Ria - Vung Tau provinces.
In a recent market report, the Vietnam Association of Realtors (VARS) said that the supply of resort real estate is starting to increase again. In the second quarter, the market recorded an increase of 800% compared to the previous quarter, providing nearly 3,000 new products from 7 new projects.
VARS commented that the resort market supply only increased locally because most of the supply was concentrated in a few localities. In the first 6 months of the year, the market had more than 3,100 newly opened units, double the number in the first half of last year, but only 27% compared to the same period in 2022.
Similarly, according to data from DKRA Group - a real estate services company, the supply of primary condotels increased by 51% over the same period, mainly in Nha Trang (Khanh Hoa). Other localities such as Quang Nam, Binh Dinh, Binh Thuan or Vung Tau accounted for 5 - 12% of primary supply.
Regarding transaction volume, DKRA Group said that the number of successful transactions has increased nearly 7 times compared to the same period, but mainly in one project. Meanwhile, transactions of old projects are mostly slow or closed. Liquidity mainly comes from resort villas priced under VND10 billion/unit and condotels priced under VND3 billion.
According to DKRA Group, in the third quarter of 2024, there will be an additional 400-500 condotel products coming to the market, concentrated in Da Nang, Khanh Hoa and Quang Ninh. For the resort villa segment, there will be about 100-150 more units, equivalent to the second quarter. In addition, the price level will continue to be high and unlikely to fluctuate strongly.
Mr. Dinh Minh Tuan - Sales Director of Batdongsan.com.vn assessed that the resort real estate market is facing new opportunities. Macro factors in tourism, retail, etc. have all shown signs of recovery since the beginning of 2024, positively impacting resort real estate.
Interest in resort real estate has improved significantly in the second quarter of 2024. In particular, from August 1, 2024, many legal bottlenecks related to this segment will gradually be resolved when related laws such as the 2024 Land Law, the 2023 Housing Law, the 2023 Real Estate Business Law and the 2023 Credit Institutions Law officially take effect and guiding documents are issued.
