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
Meet the dynamic duo putting waste to work in Indonesia
Indonesian entrepreneurs Ovy Sabrina and Novita Tan have made a meaningful mark with their firm Rebricks
Wind power: The Philippines spearheads Asia’s clean energy revolution
The Philippines has set aside its history of rejecting renewables and is setting its sights on becoming the region’s top green power producer
Singapore explores electric avenues
The pace of installation and consumer sentiment are still lagging as Singapore aims to meet its 2030 EV ambitions
Arkitek MAA shapes the nation
The firm's knack for crafting landmark transport hubs and socially sustainable developments has established it as one of Malaysia’s foremost practices