Vietnam’s coastal real estate presumes a slow rebound due to outbreak
Transactions fell by 97 percent in July, while supply dropped to its lowest level since the first quarter of this year
According to DKRA Vietnam, the number of transactions for condotels, villas, town- and shophouses in Vietnam’s coastal tourism cities decreased in July due to COVID-19 outbreaks, reported VN Express.
As 19 southern cities and provinces imposed social distancing regulations, no condotel projects were introduced into the market last month.
In July, only one project that offered 26 seafront town- and shophouses were offered, an 89 percent decline compared to June. Meanwhile, sales dropped by 97 percent.
The supply and liquidity of this property segment decreased to their lowest level since Q1 2021.
Additionally, 179 seafront villas of four projects were launched onto the market, in which 21 were sold and accounted for 12 percent of total transactions.
More: Vietnamese investors are shifting their interest from land to apartments
Most of the villas sold are situated in the central province of Binh Dinh.
DKRA Vietnam added that the supply and liquidity of condotels, villas, town- and shophouses in such coastal tourism cities are expected to recover slowly. Rebound will depend on the containment of COVID-19 and the progress of the vaccination rollout.
The Property Report editors wrote this article. For more information, email: [email protected].
Recommended
Bangkok’s luxury real estate flourishes amid economic challenges
New luxury mega projects boost the top end of Bangkok’s market, but stagnancy reigns elsewhere due to weak liquidity and slow economic growth
Investors shift focus to suburban and regional markets as Australian urban housing prices surge
Investors are gravitating to suburban areas and overlooked towns as Australia’s alpha cities see skyrocketing demand and prices
Hanoi’s air pollution crisis: Balancing urban growth with environmental sustainability
Hanoi’s worsening annual toxic smog is highlighting the pressures of balancing sustainability with rapid economic growth
U.S. tariffs pose challenges to China’s housing market amid economic slowdown
Escalating US tariffs are expected to strain China’s slowing economic growth and dampen buyer confidence, creating trouble for the country’s housing market