The supply of resort real estate (mainly serviced apartments in key tourist areas) this year is expected to increase by about 70-80% compared to last year.
According to the Vietnam Real Estate Association, the supply of resort real estate (mainly serviced apartments in key tourist areas) this year is expected to increase by about 70-80% compared to last year.
Currently, a number of large enterprises are investing heavily in resort and tourism real estate. This year, it is expected that demand for this segment will continue to improve when the legal corridor is completed. Meanwhile, tourism and retail are recovering positively, especially the number of tourists, especially international tourists, has increased sharply. According to experts, at a stage when the resort real estate market is still difficult, it will be an opportunity for investors. Because until it develops strongly like Singapore and Thailand, owning this product will not be easy.
According to VARS, some areas still have an excess supply of high-end resort real estate, which has not been put into operation due to incomplete infrastructure and utilities. In addition, some other factors are also affecting the recovery speed of resort real estate such as: The economy is growing; the number of tourists, especially international tourists, is increasing sharply; The Government has been actively implementing measures to achieve the goal of tourism being a key economic sector by 2030.
Regarding the selling price of resort and tourism real estate, VARS research shows that the current primary selling price is still high. The price of long-term resort villas in key tourist areas is expected to grow by about 15% per year thanks to sustainable rental cash flow.
According to the report of the Ministry of Construction, in the fourth quarter of 2024, the prices of tourist apartments and tourist villas in most projects being opened for sale will remain at the same price as in the third quarter of 2024. For example, shophouses and villas in the L’Aurora Phu Yen project are being offered for sale at prices ranging from 69.4 to 101.9 million VND/m2.
In Kien Giang, the selling price of villas and tourist houses at the Sonasea Villas & Resort project ranges from 30.1 to 76.6 million VND/m2; and the Andochine Resort project ranges from 46.5 to 78.2 million VND/m2. In Da Nang, the selling price of villas and tourist houses at the Sun Symphony Residence project ranges from 55.5 to 115.6 million VND/m2.
In Khanh Hoa, the selling price of villas and tourist houses at the Vinpearl Premium Golf Land project ranges from 21.9-53.96 million VND/m2.