Resort real estate sees recovery

By Trung Tin May 2, 2021 | 05:00 pm PT

A resort villa project in Mui Ne Town, central Binh Thuan Province. Photo by VnExpress/Huu Khoa.

Up to 778 resort villas at six projects came into the market in Q1, 3.2 times the number in the previous quarter, and and 26 times from a year earlier.

The uptake was 25 percent (196 villas sold), almost twice the number from the previous quarter, real estate firm DKRA Vietnam said.

The supply increased mainly due to a few large projects in provinces like Ba Ria - Vung Tau and Binh Thuan, with built-in ecosystems and operated by major international brands.

The supply of condotels also surged in the first three months when 752 units were launched at three projects, up 7.4 times from the previous quarter and 8.6 times from the same period last year.

Sales increased by 16.3 times from the previous quarter and 9.7 times from a year ago to 244 units.

DKRA said the jump in supply of resort villas and condotels and the gradual increase in liquidity indicate a revival in the resort real estate market after a gloomy 2020, though it is still slow compared to the golden period until 2019.

DKRA added it is too early to be optimistic about the resort real estate market over the short term because of the unpredictable trajectory of the Covid-19 pandemic, but it is a highly promising market in the long term with plenty of room for development and investment.