DNVN - According to DKRA Group, the residential real estate market in Da Nang and surrounding areas will have positive changes in the first quarter of 2024 thanks to the Government's moves to remove difficulties in legality, capital sources, and promote tourism...
DKRA Real Estate Services Group (DKRA Group) has just announced the "Report on the housing real estate market in Da Nang and surrounding areas in the first quarter of 2024" on April 17, stating that positive moves from the Government to remove difficulties in legality, capital sources, promote tourism... are bringing positive changes to the market.
According to DKRA, the residential real estate market in Da Nang and surrounding areas will have positive changes in the first quarter of 2024.
The apartment market recorded 14 projects for sale in the first quarter with a primary supply of about 1,334 units, an increase of 33% over the same period in 2023. The projects are all concentrated in Da Nang, while Quang Nam and Thua Thien Hue continue to have a shortage of new supply. The absorption rate reached about 8% of the primary supply, equivalent to 106 units, 2.4 times higher than the same period last year. Transaction volume focused on product segments with prices ranging from 50 - 65 million VND/m2.
Primary supply of townhouses/villas increased by 17% compared to the same period in 2023 with about 734 units from 12 projects opened for sale. The absorption rate reached 6% (about 47 units), up 38% compared to the same period last year. The primary selling price level remained stable, while the secondary market recorded a decrease of 3% - 5% compared to the end of the year (mainly concentrated in the group of projects that have been implemented for a long time, are behind schedule and have not completed legal procedures).
According to DKRA Group's forecast, in the second quarter of 2024, the land market in Da Nang and its vicinity will increase slightly compared to the previous quarter, ranging from 120 to 150 plots. In particular, Da Nang and Quang Nam continue to maintain their leading positions in supply and demand of the market. The primary price level tends to go sideways, and market stimulus policies continue to be applied by investors to increase liquidity.
In the apartment segment, new supply in the second quarter is expected to have more positive changes due to the launch of several large projects. The class A apartment segment continues to account for a large proportion of the new supply structure, concentrated in Ngu Hanh Son and Son Tra districts (Da Nang). The primary selling price level may be adjusted slightly upward due to input cost pressure.
New supply of townhouses/villas in the second quarter is forecast to continue to be scarce, mostly coming from the next phase of previously launched projects. Overall demand may increase compared to the first quarter but is unlikely to have a sudden change in the short term, mainly focusing on projects with complete legal documents, guaranteed construction progress and selling prices under VND10 billion/unit. Primary price levels remain stable. Liquidity in the secondary market is expected to improve compared to the first quarter.
Hai Chau
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