The Vietnamese resort realty market will continue to retain its appeal to both domestic and foreign investors thanks to its good return of investment as well as the tourism boom in the country, according to the Vietnam Association of Realtors.
Hanoi (VNA) – The Vietnamese resort realty market will continue toretain its appeal to both domestic and foreign investors thanks to its goodreturn of investment as well as the tourism boom in the country, according tothe Vietnam Association of Realtors.
Giving reasons for its optimistic forecast, the association said large-scaleprojects by prestigious developers are still attracting a huge crowd ofinvestors with a good absorption rate.
The resort property market has benefited a lot from the growing number of touristsand thriving economy, it said in a report, highlighting tourism hot spots willcontinue to be attractive destinations for investors with long-term vision.
Furthermore, confidence among investors has grown a lot as the legal frameworkfor the resort property products is expected to be detailed this year.
Transactions are forecast to focus on property products with good potential fortourism that are developed and operated by reputable and experienced firms.
Last year, a total 18,425 resort realty products were launched on the market,with 6,697 sold, or an absorption rate of 36.3 percent. Although a decline inthe supply of condotels and seaside villas is predicted for 2020, the number oftransactions is likely to be higher than the previous year.
The association also said that integrated resort, which is generally defined asa mega-tourism, entertainment and leisure developments that combine hotels,restaurants, convention centres, casinos, theme parks and shopping centres,will attract considerable interest from customers. Additionally, entrustedrevenue sharing lease will become a trend in 2020./.
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The resort property sector, especially condotels (condominiums in hotels), have stalled in both supply and transactions, according to the Vietnam Association of Realtors (VARS).
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Illustrative image (Source: VNA) 
