700 units were available on the resort real estate market in the second quarter, when compared to the same period last year.

DNHN - The price of resort real estate continued to decline, albeit at a slower rate than at the end of last year.

The Ministry of Construction recently released a report on the country's real estate market in the second quarter of 2023. In it, the ministry also provides information regarding hotel, lodging, and resort prices.

General evaluation

In the second quarter of 2023, the new supply of hotels and resorts across the nation was supplemented by only a handful of open and operational projects.

Tu Lan Lodge Resort (Hoa Binh), The Anam Mui Ne 5-star resort (Phan Thiet), the 4-star Grand Mercure Hotel (Hanoi), and the 4-star hotel The Tray Do Son Hotel (Hai Phong) are examples of typical projects.

Also in the second quarter of 2023, the province of Tay Ninh will only have one newly licensed resort tourism project - "Thematic sightseeing and resort on top of Ba Den Mountain, Nui Ba Den National Tourist Area, Tay Ninh Province" Tay Ninh is a province in Vietnam.

Valuation of resort real estate

The price of resort real estate continues to decline, but the rate of decline is not as steep as it was at the end of last year. This is because current capital costs are still high, but market liquidity is almost nonexistent. document transactions.

In the adjacent segment, shophouses, the primary selling price level remained unchanged compared to the previous quarter and the same period last year, ranging from 6.1 to 16.3 billion VND per unit based on the apartment size and location.

In particular, the Kim Long City Project (Nguyen Sinh Sac Street, Hoa Minh Ward, Lien Chieu, Da Nang) has a selling price of approximately 96.75 million VND per square meter; the Tropicana project, Novaworld Ho Tram (Xuyen Moc district, Ba Ria Vung Tau) has a selling price of approximately 69.44 million VND per square meter; and so on.

The condotel market is also experiencing a decline in liquidity, with the majority of projects experiencing a high volume of transactions. Approximately 700 units will be in stock by the end of the second quarter of 2023, according to a survey of various organizations.

The primary price level tends to decrease by 3-6% compared to the same period the previous year. The majority of transactions involve handed-over, legally-completed projects with selling prices ranging from VND 1.5 to 5 billion per unit, depending on the size of each flat and its location.

The Sang Residence (Da Nang) had a selling price of approximately 49 million/m2 in the second quarter; Vinpearl Beach Front Condotel (Nha Trang, Khanh Hoa) has a selling price of approximately 30.12 million/m2; and Flamingo Bien Hai Tien (Thanh Hoa) has a selling price of approximately 47 million/m2.

Nhan Ha