Buyers can choose this time to "pan for gold", looking for investment opportunities that suit their "taste".
Untangling the important knots
Removing basic bottlenecks, especially legal backlogs, is helping the resort real estate segment create momentum for recovery. Accordingly, Decree No. 10/2023/ND-CP and Official Dispatch No. 3382/BTNMT-DD of the Ministry of Natural Resources and Environment stipulate and provide specific and synchronous guidance on the issuance of pink books for tourist apartments (condotels), tourist villas, shophouses... built on commercial and service land.
Regarding capital sources, after 4 times of adjusting the operating interest rate by the State Bank, a series of commercial banks have adjusted their deposit interest rates down and signaled that they will reduce lending interest rates, including loans for real estate purchases. The corporate bond capital mobilization channel also shows signs of recovery thanks to newly issued policies.
Positive signals from the tourism industry also contribute to increasing the attractiveness of the resort real estate segment. Statistics for the first 5 months of the year show that Vietnam welcomed nearly 4.6 million international visitors, 12.6 times higher than the same period last year, reaching 57% of the target of 8 million visitors set by the tourism industry for the whole year of 2023. According to data from Google, the number of international searches for tourist accommodation in Vietnam ranked 11th in the world, in the group with an increase of 10 - 25%.
Foreign tourists love destinations with many imprints of nature and local culture, and at the same time want to experience high-class services and luxurious resort spaces. With increasing spending, domestic tourists are looking for impressive and different vacations. Therefore, the standards of accommodation, services, cuisine, entertainment activities, etc. also need to be upgraded to meet the increasingly strict demands of tourists.
The development of the tourism industry opens up many opportunities for the resort real estate segment. (Photo: BIM Land)
Meanwhile, the number of luxury accommodation facilities meeting 4-5 star standards in famous tourist cities of our country is still modest. This is an opportunity for resort real estate projects, especially the high-end product segment, managed and operated by famous international resort brands.
Good time to "pan for gold"
According to experts, when legal support policies and capital sources begin to take effect, they will contribute to creating a “defrosting” effect for the real estate market. Investors expect the real estate market to recover in the third quarter of this year and gradually spread to high-end segments, including resort real estate.
With the support of banks, investors are offering attractive financial support policies to share the pressure with investors. Seizing this opportunity, buyers can “pan for gold” in the resort real estate segment, looking for investment opportunities that suit their “taste”.
However, from the experience of experienced investors, there should be no mentality of “waiting for the bottom” for the luxury resort real estate segment. Investors’ vision for this segment is long-term, even considering it as a place to accumulate assets for the next generation, so there is rarely a situation of selling at a discount to “cut losses”.
Typically, the Sky Residences apartment collection of the InterContinental Residences Halong Bay project is attracting attention from investors because it has great potential for price increases in the future.
The project is located in a rare location, adjacent to Ha Long Bay, owning 580m of coastline, giving 100% of the apartments here a unique direct view of the bay from above. (Photo: BIM Land)
Not only does it have a prime location and an attractive view of Ha Long Bay, the project's potential for value increase is also guaranteed by the InterContinental brand - the highest-end segment of the InterContinental Hotels Group (IHG). It is known that the average occupancy rate of InterContinental-branded hotels always reaches 70%, thanks to a community of more than 100 million high-end customers worldwide.
When officially put into operation, the luxury apartment building Sky Residences promises to become a new tourism symbol in the heritage city of Ha Long, attracting domestic and foreign tourists to experience life next to the world's natural wonder.
Each apartment is completed according to the strict standards of the InterContinental brand. (Photo: BIM Land)
It is no coincidence that InterContinental Residences Halong Bay is attracting the attention of investors at the present time. The first InterContinental-branded resort in the North is expected to be operational in 2024 - the time when Vietnam's tourism industry has fully recovered and is expected to boom.
Deciding to “put money down” at the right time with many attractive advantages will be the key, helping investors enjoy the “sweet fruit” from the resort real estate segment.
Contact information:
InterContinental Residences Halong Bay project, developed by BIM Land (belonging to BIM Group)
Distribution: MGV Real Estate
Hotline: 0989999901
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