Phu Quoc real estate returns to the race as tourism almost fully recovers

With the number of visitors in 2024 expected to surpass the mark before the Covid-19 pandemic, Phu Quoc tourism is expected to begin a spectacular breakthrough period.

Phu Quoc real estate returns to the race as tourism almost fully recovers

With the number of visitors in 2024 expected to surpass the mark before the Covid-19 pandemic, Phu Quoc tourism is expected to begin a spectacular breakthrough period.

This is also a positive signal showing that the pearl island is gradually returning to the top position of the hottest real estate markets in the Southern region.

Tourism industry passes important milestone

After a strong recovery period, Phu Quoc is expected to welcome nearly 6 million visitors in 2024, surpassing the 5.1 million visitors before the Covid-19 pandemic. As for international visitors, the pearl island promises to reach 962,000, an increase of more than 70% over the same period and about 30% compared to 2019.

Good news also kept pouring in when recently, the world's leading travel magazine Condé Nast Traveler voted Phu Quoc ranked 2nd in the Top 10 "World's Most Wonderful Islands" 2024. This place was also honored by the World Travel Awards - considered the "Oscar of world tourism" as "World's Leading Natural Island Destination".

With positive reviews from many prestigious organizations in the world, Kien Giang province's tourism industry expects that the number of international visitors to Phu Quoc can reach 1 million in 2025. To achieve this goal, Phu Quoc has implemented many special policies, such as visa exemption for all visitors in the world for 30 days.

In particular, Phu Quoc is also focusing on infrastructure projects and tourism products, including the expansion plan for Phu Quoc International Airport with the capacity to receive 20 - 30 million passengers/year. In addition, the Phu Quoc International Passenger Port project will also be put into operation soon, helping the pearl island welcome luxury super yachts with a capacity of 5,000 - 6,000 tourists/ship.

The driving force for Phu Quoc real estate to return to the top position

According to Mr. Dinh Minh Tuan, Sales Director of Batdongsan.com.vn, the resort real estate market is facing new opportunities with macro factors of tourism, retail, etc. all recovering strongly from the beginning of 2024.

In particular, after August 1, 2024, when the Land, Housing, and Real Estate Business Laws officially take effect, many legal bottlenecks will gradually be removed, and the resort real estate market will also flourish again. In Phu Quoc, investor sentiment has changed significantly when focusing on long-term ownership products located in multi-utility complexes, flexibly meeting usage and business needs.

Products with flexible functions and diverse experiences are becoming the new target of investors.

Explaining this change, Mr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association, stated that long-term real estate will be the preferred product line. The reason is that in the Vietnamese mind, property must have long-term ownership, have value passed down through generations, and be flexibly decided on inheritance rights as well as flexibly rented out when there is no need to live there.

The change in investment trends combined with the potential of the year-end holiday season on the pearl island, especially during the peak period from December to January of the following year, has caused investors to flock here to look for unique products with high profit value.

According to Ms. Ngoc Duyen - a real estate broker in Phu Quoc, currently, much attention is focused on the North Island area, where there are large projects developed according to the potential all-in-one model, with diverse products, such as resort apartments and commercial townhouses.

“These products not only meet the requirements of flexible use, but also have a huge customer base as they are located in the most developed tourist and commercial complexes on the pearl island, easily generating sustainable cash flow,” said Ms. Duyen.

Phu Quoc United Center complex is an attractive destination to welcome the development of the pearl island.

According to this broker, in the North of the island, the Phu Quoc United Center super complex of Vingroup Corporation attracts the most investors from many provinces and cities across the country.

Not only holding a prime location at Bai Dai - one of the most beautiful beaches on the planet, Phu Quoc United Center also owns unique "wonders", such as Grand World, Vinpearl Safari, VinWonders... After only 3 years of operation, this leading resort, entertainment and recreation complex in Asia has welcomed more than 10.6 million visitors. This is also the place that continuously hosts "huge" scale events, such as the super music festival 8Wonder Winter, EDM Creamfields Vietnam 2022... along with a series of special festivals during the peak period at the end of the year. Thanks to that, the "city that never sleeps" Phu Quoc United Center is considered the vibrant 24/7 heart of the pearl island.

Investors eagerly await Vinhomes' new portfolio launch at Phu Quoc United Center.

That huge attraction has also shown the potential for increasing the value of Phu Quoc United Center, with products that meet market trends, such as resort apartments, commercial townhouses with full legal status and long-term ownership. Investment opportunities here are even more certain when customers and investors can "experience first, invest later" with new products that Vinhomes is about to launch. The product basket with Vinhomes' breakthrough advantages promises to bring about an explosion in the northern part of the pearl island in the new development cycle of tourism and real estate.

Source: https://baodautu.vn/batdongsan/bat-dong-san-phu-quoc-tro-lai-duong-dua-khi-du-lich-phuc-hoi-gan-nhu-hoan-toan-d231536.html