Da Nang: In the second quarter of 2024, the supply of apartments and land plots will improve significantly.

DNVN - On July 18, real estate service corporation DKRA Group announced the "Report on the housing real estate market in Da Nang and surrounding areas, Q2/2024", stating that the supply of apartment and land segments has improved significantly compared to the previous quarter.

According to DKRA Group, in the second quarter of 2024, the apartment market in Da Nang and its vicinity recorded a 2.5-fold increase in primary supply compared to the same period last year with 16 projects launching for sale, bringing about 2,484 apartments to the market. New supply opened for sale in the second quarter of 2024 is mainly concentrated in Son Tra district (Da Nang).

Apartment supply in Da Nang market and surrounding areas increased significantly in the second quarter of 2024.

The primary absorption rate reached about 52% of the total primary supply, equivalent to 1,301 units. The transaction volume was concentrated in newly opened projects or projects that had handed over houses, had clear legal status, and were convenient to move to the city center. The primary selling price level did not fluctuate much compared to the first 3 months of the year.

Regarding the land segment, DKRA Group recorded significant improvements in primary supply and new supply in the Da Nang market and surrounding areas in the second quarter of 2024. Specifically, 11 primary projects were introduced to the market with a primary supply of about 1,039 plots, an increase of 27% compared to the previous quarter. Quang Nam continued to lead the supply, accounting for 80% of the total primary supply.

Overall market demand remains low, with the absorption rate only equivalent to about 8% of the total primary supply (equivalent to 85 plots), down about 41% compared to the first 3 months of the year. Transactions mainly occurred in the group of products with completed infrastructure and legal documents, deployed by reputable investors in the market, with an average price of about 51.2 million VND/m2 in Da Nang and 19.5 million VND/m2 in Quang Nam.

According to DKRA Group's forecast, the new supply of land plots in Da Nang City and surrounding areas in the third quarter of 2024 will increase slightly compared to the previous quarter, fluctuating between 250 - 350 plots, mainly concentrated in Quang Nam and Da Nang. Demand is expected to increase slightly at the end of the year, but will still remain low compared to the period before 2019. The primary price level has not fluctuated much, and preferential policies continue to be widely applied by investors to stimulate market demand.

In the apartment segment, new supply in the third quarter of 2024 is expected to remain at the same level as the second quarter of 2024. Most of the supply is concentrated in Da Nang, while Quang Nam and Thua Thien Hue continue to maintain a shortage of new supply. Primary selling prices do not fluctuate much or may slightly increase due to input cost pressure, quick payment discount policies, support for bank loan principal and interest deferral, etc. In terms of liquidity, both primary and secondary markets are unlikely to have any sudden changes in the short term.

Hai Chau

Source: https://doanhnghiepvn.vn/kinh-te/da-nang-quy-ii-2024-nguon-cung-can-ho-va-dat-nen-cai-thien-dang-ke/20240718031347389