Coastal real estate transactions fall

No condotel projects were launched onto the market last month as 19 southern cities and provinces imposed social distancing.

Only 26 sea-front town- and shophouses of one project were on offer in July, declining 89 percent against June, while sales fell 97 percent. The supply and liquidity of this property segment decreased to its lowest level since the first quarter of this year.

Meanwhile, 179 sea-front villas of four projects were launched onto the market, of which 21 were sold, accounting for 12 percent. Most of the sold villas are located in the central province of Binh Dinh.

Real estate service provider DKRA Vietnam said the supply and liquidity of condotels, villas, town- and shophouses in coastal tourism cities will recover slowly without sudden changes, depending on the control of Covid-19 and vaccination progress.