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Property resort, piece of bread not easy to eat

Vo Nguyen Giap road, Da Nang appeared a series of real estate resort project


2016 saw the rise of resort real estate, especially condotel. This segment is expected to continue to attract more investors because of the attractive earnings promise, but without capital resources in the long run, investors are easily bogged down with resort real estate.

Great supply
The latest report from the Ho Chi Minh City Real Estate Association (HoREA) shows that the supply of coastal real estate is very high.
Le Hoang Chau, President of HoREA, said that property has never been so popular as ever. This puts customers in front of countless investment choices or owning a second home, but it can also lead to weak potential investors stuck if the project is less successful.
Real market shows that in 2016, a series of resort real estate projects are born, even frozen projects for many years are also restarted. For example, in Nha Trang, the Diamond Bay Condotel - Resort project belonging to Diamond Bay City by the Hoan Cau Group (Hoan Cau Group) as an investor is restarted in late 2016 after about eight years of neglect.
Not only Diamond Bay Condotel, Nha Trang market in the past year also witnessed a large supply of condotel products to be launched in the market from other projects such as Panorama, Ariyana, Gold Coast, La Luna, Vinpearl Empire .... Large, but the liquidity of this product is quite good when the investors announced, has sold 50-70% of products through several openings, although the project has just completed the foundation.
Besides, a lot of other projects are being implemented such as My Gia, Le Hong Phong I and II, Hoang Long, Phuoc Hai, An Binh Tan, Phuoc Long. Private offering ranges from VND 45 million / m2 to more than VND 100 million / m2.
A further focus of the resort property is Danang. Only about 30 km along the Vo Nguyen Giap seaport from Da Nang to Hoi An, real estate investment reporters noted that at least 30 real estate projects are being deployed such as Cocobay, Hyatt Regency, Guest 5 star hotel One Opera Danang, Marina
Complex, two marina projects ...
Also equally vibrant, is the markets of Phu Quoc, Ha Long, Binh Thuan, Quy Nhon ... with the appearance of big investors such as Vingroup, Sun Group, FLC. Most recently, in Binh Thuan, ThangLoi Group announced the sale of the Aloha project. According to the investor's introduction, this project covers a total area of ​​15 hectares, invested 3.200 billion and was developed according to the type of commercial - ecological - entertainment city with the price from 850 million to 1.2 million. Billion dong / unit.
And the cases bogged down
At the end of 2016, Mr. N.K.T (Ho Chi Minh City) is happy to pick up gold when it regains the money invested in a real estate project introduced as the largest resort complex in Da Nang. Mr T. said that by mid-2016, seeing this project aggressively advertised with profitable scale and profit, he decided to fly from Ho Chi Minh City to Da Nang to buy this project apartment for a price. Worth over 1.3 billion per apartment. In order to hold a seat, he closed 200 million deposit and the distribution unit side said, after two months will sign a contract.
However, over the past 3 months, but the owner did not mention the contract, while the project is not static construction. After many times working with the intention of recovering the unsuccessful deposit, he had to resort to the authorities in charge, the owner returned the money to him. However, Mr. T. said, had to lose 20 million, because the distributor "reapply" as a service fee.
"When you see the project advertising too many gadgets, beautiful, profitable and fast, everyone wants. But buy and then know the real point of real estate project resort, "said T.
Not only in the project, the market has also had some projects in Mui Ne (Binh Thuan), Nha Trang (Khanh Hoa) ... signs quite quietly after opening the market in the past year. .
On this issue, Le Hoang Chau said that the market
Resort property has a large supply, warned of the risk of supply-demand phase difference. Another worrisome point is the high-end real estate credit
The beach resort property is very large, due to the value of a very high beach resort.
"The hotel apartment area of ​​over 30 m2 with the price of over 30 million m2 is too high. The policy of 8-12% profit per year is actually investors have calculated the full price on the apartment, then extracted to promote, attracting buyers. Consumers do not have complete knowledge of the value, as well as the calculation of the investor, and if the bank loans to invest in real estate resort will be very risky. Therefore, customers need to be careful while investing in this segment, "Chau warned.
Also according to HoREA's warning, condotel market is currently dominated by secondary investors. With the way to collect the apartment, then use the trick of makerting to push the price, creating faux simplicity, causing the latter buyers high risk.
Talking to Real Estate Investment, General Director of a large real estate trading floor system in all three regions said that in 2015 and the first half of 2016 is the peak period of liquidation of the resort projects. The beach villas cost ten billion to a million dollars per unit. However, in the second half of 2016 onwards, the condotel product is priced at a couple of billions in vain, suggesting that investors are "more likely to wear durable" than their predecessors.
Meanwhile, Nguyen Van Nam, deputy director of Danang Department of Construction, said that the resort property would help the city gain more advantages in attracting investment, stable socio-economic development, Natural scenery, beautiful coastline with tourist resources, well maintained resorts, many real estate products for buyers to choose, the demand for resorts of local people continue to increase. However, it may also leave some consequences if state management agencies do not have a strict management solution.
Specifically, according to Mr. Nam, the condotel projects, development villas will create residential land does not form residential units, there are owners. From that, it will create a considerable pressure on the technical infrastructure and social infrastructure of the city, especially in the areas with great potential for tourism development and services. The technical and social infrastructure will face heavy pressure as the number of residents surges.
For coastal resort real estate projects, where all or most of the project items are invested in the form of timeshare, the management and operation of the resort are no longer tied to the responsibility. With the owner. At that time, the likelihood could be the formation of residential clusters in the area planned for tourist land.
"This will disrupt urban planning, as these are highly influential locations for architecture, urban landscapes, or tourism development planning. In the long run, it has a great influence on the urban appearance as well as the development of tourism - the spearhead economic sector of the city, "Nam said.


According to Gia Huy
Real Estate Investment Newspaper
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