Da Nang Real Estate: Land prices stagnant, apartments gradually recovering
According to DKRA Group, in October 2024, land prices in Da Nang continued to trend sideways, while apartments showed signs of recovery, with supply increasing by 25%.
DKRA Group has just updated the real estate market news of housing and surrounding areas in Da Nang City in October 2024.
According to this unit, the primary supply of land in the segment has not fluctuated much compared to previous months and increased by about 32% compared to the same period in 2023. Quang Nam and Da Nang provinces lead the market with about 1,076 products currently on sale, accounting for 100% of the primary supply.
Overall demand remains low, primary consumption decreased by about 42% compared to October 2023, transactions were mainly distributed in the group of products with completed infrastructure and legal documents.
In addition, the primary price level continued to trend sideways compared to the previous opening and remained at a high level due to the impact of input costs.
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| Land segment in Da Nang City tends to move sideways. |
According to DKRA, in the short term, the market has not yet shown many signs of recovery in both supply and liquidity in the land segment.
For the apartment segment, primary supply increased by 25% year-on-year, mainly concentrated in Da Nang, while Thua Thien Hue and Quang Nam continued to have a shortage of supply for sale.
Market demand showed signs of recovery, 2.3 times higher than the same period last year, with most of the consumption coming from a newly opened project in Ngu Hanh Son district.
Primary and secondary selling prices continue to have little fluctuation, secondary transactions are concentrated in projects that have handed over houses, have clear legal status, and are convenient to move to the city center.
According to DKRA, at the end of the year, with a number of projects preparing to open for sale, the new supply of the apartment segment is expected to continue to have positive changes.
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| Liquidity in the resort real estate market in Da Nang remains gloomy. |
In the townhouse and villa segment, primary supply decreased slightly, recording a decrease of about 3% compared to the previous month; most of the current supply comes from inventory, while new supply continues to be absent.
Market liquidity is quiet, most projects have closed their product portfolios to adjust sales policies appropriately, which is also the reason why the market did not record any transactions in the past month.
For the resort real estate segment, market liquidity almost froze when more than 90% of projects closed their portfolios, causing the market to record no transactions during the month.
Liquidity difficulties continue to weigh on market sentiment in the resort real estate segment; investor confidence remains low, leading to a prolonged gloomy state and has yet to show any signs of recovery in the short term…
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