Danang housing and office market warms up
06-09-2012
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The survey indicates the transaction volume of apartments in the central coast city as of late last month increased slightly from the first three months. Meanwhile, the villa segment in the city is also fairly stable with prices being offered for sale showing no substantial changes against early this year.
It is said that appropriate marketing strategies and smooth construction progress have helped stabilize the trading situation of a number of projects amidst the tough market conditions now. One of the strategies is to launch promotions.
For instance, the Hyatt Regency Danang Residence project these days has just launched a preferential program targeting homebuyers, including either an interior furnishing package worth VND790 million, or a golf-course member card of the same value.
Developed by Indochina Land, the project consists of a five-star hotel with 200 rooms, 183 high-class condos and 27 luxury villas.
Michael Piro, managing director of Vietnam Sotheby’s International Realty as distributor of the project, noticed there were times last year when the tourism property segment was stagnant but local demands for this segment are rebounding now. Among the final 28 flats of the project, up to eight apartments have been booked by customers, at VND7.2-8.6 billion a unit.
There are about 2,800 condos and some 955 high-end villas available for sale in Danang at present. Savills expects around 1,200 flats and 540 villas of other projects will be added onto the local market between now and next year.
In the office leasing segment, the average occupancy rate in Danang is 86%, rising by ten percentage points, while the average rental is down by 2% over the first quarter this year.
