Tourism activity recovers with resort real estate.
According to experts, the recovery of tourism is an important step forward for the economy and the real estate market, especially resort real estate.
The resort real estate market is starting to return after three years of immobility due to the COVID-19 epidemic and the breakdown of profit commitments in some projects.
In the market, projects such as Sonasea Van Don Harbor City, Sun Marina Town Ha Long, Novalword Phan Thiet, A La Carte Ha Long, or Flamingo Hai Tien, KN Paradise Cam Ranh… have been successfully offered for sale with a high liquidity ratio.
According to the market report of BHS Group, in the fourth quarter of 2021, the absorption rate of high-rise resort real estate increased by about 11 percentage points compared to the previous quarter. This shows the recovery of this product segment.
As a real estate broker, Alpha Real’s General Director said a strongly growing trend in the market in the current context is real estate in big cities such as Hanoi and Ho Chi Minh City. In Ho Chi Minh City, there is not much land left, besides these localities have very large housing prices, forcing investors to seek potential in new lands.
“In recent years, big investors such as Vin Group. Sun Group … has been developing many large-scale projects in provinces and cities, especially coastal projects. Large projects invest in big projects. Synchronous investment in infrastructure. Landscape and tourism services bring new potentials for local tourism. On the other hand, real estate prices in these markets are also very low. Which is the “low-lying area” of Vietnam market, so in the long run, the resort real estate market is very potential,” – he shared.
Can’t escape the upward pressure
According to the Chairman of BHS Real Estate Joint Stock Company, one of the bright spots of the resort real estate market recently is the formation of a new product segment – long-term resort real estate.
Thanks to the combination of two factors, both a second house with a red book. Full legality, and a resort element. These properties have completely met the requirements of customers and investors. both to live in and to make a profit.
Besides, the demand for these resort properties has become even stronger during the epidemic period
The proof is that the liquidity of this type of product is very high. If condotel apartments in the Central region only have an absorption rate of about 20%; In the North and South areas, about 40%, the long-term resort apartments have an absorption rate of about 61%, many projects sold out on the first day of sale.
On the other hand, resort projects with term ownership are also coming back as investors change the way they operate and develop suitable products at more reasonable prices.
Current term-owned resort properties are generally priced right. A beach villa usually costs from 7 billion to more than 10 billion – a price that is completely suitable for the payment level of many customers and investors.
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“Psychologically, investors don’t want to spend too much money on a second home
Therefore, products with a reasonable total investment will receive great reception from customers,” he said. .
According to him, the type of second-home (second home) like condotel (tourist apartment) although there are still some legal problems at the moment, but in the near future. This type will be very popular. In particular, along with the suppression of people’s “thirst” to travel. After the epidemic control on a large scale. It will create a huge amount of travel demand and a great demand for real estate, resort property.
Sharing the same opinion, other experts forecast that this market will be under the same pressure of price increase of the real estate market in the near future. This will increase the challenge and attraction of the resort segment. Also require developers to come up with more attractive sales policies in the coming time.
Vice-Chairman of the Vietnam Real Estate Association said that the reason for this growth
Besides the good implementation of epidemic prevention and control solutions, was also the changed project development model. According to him, there are no longer small projects that feed on the common infrastructure of the city. But have developed into multi-purpose projects such as combining relaxation. Health, combining entertainment, culture, etc. shopping … with projects of international scale and standards to attract more interested investors. Secondly, the model of tourism real estate development on residential land is attractive to investors because they can buy, own long-term, and do tourism business.
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The Director of the Institute for Tourism Development Research emphasized that when tourism develops. Tourism real estate develops, when tourism encounters difficulties, it also affects this market. In the context of the epidemic, there has emerged a trend that was previously clear but now more obvious, that of health care resorts. When the epidemic breaks out, everyone is concerned about safety and health, this will be the mainstream. If the epidemic is under control, this will be the time when the resort real estate market recovers the fastest.
From the perspective of the investor
A Chairman of the Board of Directors cum General Director said that the epidemic has changed the business strategy of the enterprise to suit the context and needs of customers. In the past, we often focused on experience and entertainment tourism, but in recent years. We have focused on cultural experiences and health. This trend is also one of the conditions that help resort real estate attract many investors. Increase transaction volume in the context of the epidemic.
According to Khanh Hoa Real Estate Brokers Association (KAREB), in 2021, the transaction market share of resort real estate. Townhouses, … will account for about 20% of the total transaction market share in the province. “The difference is explained because. During the difficult economic period in many aspects. The market only exists groups of people buying real houses and encapsulating in low-cost housing products,” said the Khanh Hoa Real Estate Brokers Association.
“It is forecast that the tourism and resort real estate market will warm up again in 2022 when tourism activities in Khanh Hoa are gradually recovering. The exploitation efficiency of resort project complexes has been improved. It will increase a lot in the last month of 2021 and 2022″. Said a report from Khanh Hoa Real Estate Brokers Association.
According to Khanh Hoa Department of Tourism
This locality aims to attract 11 million visitors by 2025, including 5 million international visitors. To meet the increasing demand of tourists, the locality needs to have high-class accommodation facilities, quality resorts, and entertainment. Currently, the tourism development space of Khanh Hoa province is not only concentrated in Ho Chi Minh City. Nha Trang which extends to Bai Dai, Ninh Hoa, South Van Phong, and towards North Van Phong. In particular, the tourist area north of the Cam Ranh peninsula is playing a “leverage” role for the tourism growth of Khanh Hoa.
Determining to create tourism and resort products not only to serve domestic guests but also to serve international guests. According to a Sales Manager. If you want to develop quickly, you must practice standing on the shoulders of giants. In order to have good planning and good infrastructure allocation, it is necessary to have the help of foreign units. Thus shortening the time and avoiding the lessons of loss in money.