Rental real estate is going against the general trend.

Data from Batdongsan.com.vn shows that the level of interest and the number of listings for sale of Khanh Hoa real estate in March 2024 increased sharply compared to February, by 67% and 60% respectively. Search demand has recovered strongly after the Tet holiday when the number of interests increased steadily in all locations. Previous hotspots such as Cam Lam and Van Ninh had the strongest increase in searches, reaching 121% and 104% respectively. The remaining localities also recorded an increase in interest of 46-80%.

However, that heat did not last long as the following month, search demand decreased in most areas, the overall decrease for the whole market was 6%. Some areas recorded a sharp decrease of up to nearly 30% such as Cam Lam and Khanh Son.

Similarly, when entering May, the Khanh Hoa market continued to record a decrease in search volume, although the decrease was slight but occurred widely, instead of being concentrated in a few locations like April. Specifically, except for Van Ninh district, which decreased by 14%, the remaining locations such as Cam Ranh, Cam Lam, and Dien Khanh decreased by 1-6%.

Notably, one of the two locations with a sharp decrease in searches in April, Khanh Son (28%), has stopped decreasing this month with a 4% increase in searches. In the sales market, by type, project land has the sharpest decrease in searches with 14%. The level of interest in land and individual land among the people also decreased by 7%. Meanwhile, Khanh Hoa apartments and townhouses recorded an increase in searches of 5% and 3% respectively compared to April. In addition, the number of listings for sale also decreased sharply, with 6% of listings for private houses, 5% of listings for land 5%. Only the apartment type recorded a slight increase of 2%.

In contrast to the buying and selling market, the demand for renting and posting rental real estate in Khanh Hoa increased in most types. Specifically, the number of searches for Khanh Hoa boarding houses increased by 41% compared to April, the remaining types also increased quite strongly: kiosks, apartments, townhouses, private houses increased by 29%, 14%, 12%, 8% respectively. The number of postings for Khanh Hoa boarding houses in May also increased by 43%, private houses increased by 36% and apartments increased by 20%, while postings for villas for rent decreased by 16%.

Rental demand and rental postings in Khanh Hoa real estate market

Regarding the supply situation, information about upcoming projects in Khanh Hoa is of great interest, but the market has not recorded any new projects in the beginning of this year. The products being sold are mainly in the old open sale basket.

Some factors that can potentially impact the market include the Doc Da Trang Industrial Park Project, implemented in Van Hung Commune, Van Ninh District and Ninh Tho Commune, Ninh Hoa District with a total investment of more than VND 1,800 billion. The project, when completed, will increase the supply of industrial real estate for the province, attract investment and possibly create housing real estate or rental demand for workers and laborers.

In April 2024, Khanh Hoa province proposed more than 1,400 billion VND to build a road connecting Khanh Hoa - Buon Ma Thuot expressway (also known as Khanh Hoa - Dak Lak expressway). This information promises to boost real estate in some areas and is a premise for developing new projects in the future.

Source: https://www.congluan.vn/khanh-hoa-bat-dong-san-cho-thue-dang-di-nguoc-voi-dien-bien-chung-cua-thi-truong-post299426.html