According to Lao Dong reporters, the scarce supply has caused the selling price of old apartments in Da Nang City to continuously increase. Notably, newly opened projects in Da Nang are all in the high-end and luxury segments, while products in the mid-range and affordable segments are scarce.
Mr. Tran The Kien (36 years old, working in An Hai ward) is looking for old apartments with prices under 2 billion VND. Last month, Mr. Kien also followed the real estate broker to see the old apartment for sale in Son Tra ward.
"The old apartment is 54m2 wide, for sale at 1.82 billion VND, equivalent to nearly 34 million VND/m2. Apartment prices have increased too much, while newly opened projects are all in the high-end segment, so I have to switch to buying old apartments" - Mr. Kien said.
According to a survey by Lao Dong, in Son Tra ward, many old apartment projects are being advertised for sale at prices ranging from 1.5-3 billion VND, depending on the area.
For example, a 57m2 apartment with full furniture is being advertised for sale by its owner for 2.6 billion VND, equivalent to more than 45 million VND/m2; Another apartment with an area of 52m2, selling price from 1.7 billion VND, equivalent to more than 32 million VND/m2.
In Cam Le ward, many old apartments are being advertised for 1.8 - 2.6 billion VND/unit. Notably, some new apartment projects here are priced at over VND50 million/m2.
Notably, the website Batdongsan.com.vn recently analyzed that Hanoi is the leading locality in the country in real estate price growth in the period of 2021-2025, with an increase of up to 112%. Hai Phong ranked 2nd with an increase of 71%, while Da Nang 53%, Ho Chi Minh City - the economic locomotive in the South also recorded an increase of 42% in the past 5 years.
The average selling price is currently at 75.5 million VND/m2 in Hanoi, 66.4 million VND/m2 in Da Nang and 77.1 million VND/m2 in Ho Chi Minh City, which significantly affects the ability to own apartments of people in urban areas and cities.
Many analysts said that combining the advantages of synchronous and modern infrastructure of Da Nang and the large land fund of Quang Nam (old), Da Nang City after the merger has opened up new development space, this is also a driving force for real estate to recover strongly, reflected in the growth in interest and selling prices of old and new apartments in the past 9 months, surpassing other provinces and cities in the region.
Referring to this content, Mr. Vo Hong Thang - Deputy General Director of DKRA Group - commented that the current price of apartments in Da Nang is "exceeding the ceiling" compared to real housing needs, making it difficult for the majority of people to access.
However, this price reflects the clear shift of the market to the high-end and luxury segments, mainly targeting customers from Hanoi, Ho Chi Minh City or investors with more financial potential than local people with real housing needs.
Despite high prices, the liquidity of the Da Nang apartment market has been quite positive in recent times. Newly launched projects, especially projects in the city center or along the coast, still record a good absorption rate thanks to the advantage of the investor's location, brand and expectations for potential price increases in the future.
