Da Nang: Resort real estate supply in the second quarter decreased

DNVN - According to the report on the real estate market in Da Nang and its vicinity in the second quarter of 2024 announced by DKRA Group on July 18, the primary supply of townhouses/villas and resort real estate both decreased and were at a low level compared to the same period last year.

According to DKRA Real Estate Services Group (DKRA Group), the primary supply of townhouses/villas in the Da Nang market and surrounding areas in the second quarter of 2024 decreased by 2% compared to the same period last year, mostly coming from inventory of old projects. Specifically, the market received a primary supply of about 709 units from 11 projects for sale, mainly concentrated in Thua Thien Hue and Da Nang areas.

Primary supply of resort villas in Da Nang and surrounding areas in the second quarter of 2024 decreased by approximately 3% compared to the same period last year.

The absorption rate reached 9% (about 61 units), up 79% over the same period last year. Transactions were concentrated in projects with selling prices below VND 10 billion/unit, with complete legal documents and developed by reputable investors. The primary selling price level remained stable, while the secondary market decreased by 4% - 8% compared to the end of 2023, mainly concentrated in projects that have been implemented for many years, are behind schedule and have not completed legal documents.

The resort real estate segment recorded a low supply compared to the same period last year and most of it came from inventory of previously launched projects. The primary selling price level did not fluctuate much, continuing the sideways trend.

In the resort villa segment, primary supply decreased by approximately 3%, with only 9 projects opening for sale, supplying 234 units to the market. The market lacked new projects due to legal barriers and delays in launching products by many investors.

The market absorption rate is modest, only approximately 1% of the total primary supply. The primary price level has not fluctuated compared to the same period last year and remains high. However, policies on profit/revenue sharing, principal grace period, interest rate support, etc. continue to be widely applied to increase liquidity.

In the resort townhouse/shophouse segment, the primary supply lacks new projects and there is no increase in consumption. The primary selling price level remains stable and has not fluctuated much compared to the same period, the current asking price ranges from 7.1 - 16.3 billion VND/unit. The secondary market continues to maintain a gloomy situation.

In the condotel segment in the second quarter of 2024, primary supply increased slightly by 2% over the same period, coming from 8 projects opened for sale with about 677 units. Quang Nam and Da Nang continued to be the leading localities in the market, accounting for 93% of the total primary supply in the quarter. However, market demand remained low. Primary prices did not fluctuate much over the same period and continued to trend sideways.

According to DKRA's forecast, in the third quarter of 2024, new supply of townhouses/villas will continue to be scarce, mostly coming from the next phase of previously launched projects. Overall demand may increase slightly compared to the second quarter, but it is unlikely to have a sudden change in the short term, mainly concentrated in projects with complete legal documents, guaranteed construction progress and selling prices under VND 10 billion/unit.

Primary prices remained stable, and preferential policies and discounts for quick payments continued to be applied in the third quarter. The secondary market continued to trend sideways, and it is expected that customers using financial leverage may reduce prices when facing cash flow pressure.

For resort real estate, new supply is likely to continue to be absent as investors are more cautious in implementing sales; at the same time, liquidity remains difficult. Primary prices remain stable and have not fluctuated much compared to the previous quarter. Policies to support interest rates, principal grace period, and payment schedule extension... will continue to be applied by many investors in the third quarter of 2024.

Hai Chau

Source: https://doanhnghiepvn.vn/kinh-te/da-nang-nguon-cung-bat-dong-san-nghi-duong-quy-ii-giam/20240719083023468