Tourism and resort real estate begins to show more positive signals

DNHN - Tourism and resort real estate, although affected by the pandemic, are showing many signs of recovery and many new positive opportunities in the coming period.

One of the positive signals for tourism and resort real estate is the growth of the global tourism industry. Although the pandemic has created difficulties and limitations in the tourism industry, with the implementation of anti-epidemic measures and vaccination, countries are gradually reopening, and international tourism is being restored. The growth of the tourism industry creates a large demand for resorts and tourism real estate, opening up opportunities for investors and businesses in this field.

Customers are increasingly seeking unique travel experiences and comfortable resorts. They desire relaxing vacations and enjoying recreational activities. This creates a demand for the development of tourism and resort real estate with high-end amenities such as private beaches, swimming pools, spas, golf courses, and other sports and recreational activities. Businesses in this field can take advantage of this opportunity to create unique resort tourism products and attract customers.

Currently, sustainable tourism is becoming an important trend. Customers are increasingly concerned about the positive impact of tourism on the environment and local communities. Sustainable tourism and resort real estate can utilize green technologies and methods to reduce environmental impact and protect resources. Resorts located in beautiful natural areas and protecting natural landscapes also attract customers interested in sustainable tourism.

According to a recent report by the Vietnam Association of Realtors (Vars), the tourism and resort real estate segment has shown more positive signals in the second quarter compared to the first quarter. However, there have not been many clear changes, although supply and transaction volume have recorded strong increases compared to the same period.

Vars' report states that in the first six months of 2024, the entire market recorded 3,114 new products for sale, more than double the first six months of 2023 but only 27% of the same period in 2022. The consumption rate on new supply in the first two quarters reached 58%, equivalent to 1,799 transactions. However, 87% of the supply and 94% of the transactions came from a single condotel project in Nha Trang, the only one in the country to be granted a land use rights certificate.

Therefore, the resort real estate segment remains quite quiet in the market in the first half of this year, although there have been certain signs of recovery. In particular, resort villas and townhouses have recorded a clearer recovery compared to condotels. This change is happening strongly in the northern provinces, especially in projects related to road tourism. However, southern provinces such as Binh Thuan, Ba Ria - Vung Tau, and Phu Quoc have not yet seen significant growth in the search for resort real estate.

The tourism and resort real estate market is witnessing new positive signals. In the context of tourism recovery after the COVID-19 pandemic, the demand for high-end resorts and seaside hotels is gradually recovering strongly. Investors and customers are increasingly interested in projects with prime locations, ensuring medical safety and providing high-quality relaxation experiences. Modern resort real estate projects and eco-resorts are highly valued for their profit potential and attractiveness to international customers.

According to the leaders of the Department of Housing and Real Estate Market Management, the 2023 Real Estate Business Law has adjusted and supplemented new regulations related to the tourism and resort real estate market, such as capital regulation, license appraisal, and clear classification of housing types like condotels and officetels in Decree No. 10/2023/ND-CP of the Government.

The law is also strict about real estate business conditions, the capacity of investors, and the issue of Vietnamese investment abroad. This helps minimize arising problems when projects are implemented for business.

It is expected that when the 2023 Real Estate Business Law comes into effect, the supply of resort real estate products will improve by about 20% compared to 2023. In the coming time, tourism and resort real estate will have a lot of potential when investors return to the market, thanks to the positive impacts of the new regulations. This is good news for tourism development localities such as Khanh Hoa, Phu Quoc, Ha Long, and Da Nang.

Nghe Nhan