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Liquidity of coastal real estate plunges

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The number of condotels, villas, townhouses, and shophouse transactions in the coastal tourist capitals all dropped the most since the beginning of 2021.

DKRA Vietnam has just released the resort real estate market report in July with liquidity plunging in the context of the blockade and distance in many provinces due to the impact of the fourth outbreak of the Covid-19 epidemic.

The condotel segment had no new projects launched in July and market liquidity was zero, the worst since March this year. Before the impact of the epidemic, the market fell into a quiet state, many investors had to lock shopping carts and adjust sales policies.

Resort real estate market along Tran Phu Street, Nha Trang. Photo: Vuong Manh Hung

Meanwhile, throughout July, the townhouses and beach shophouse segments only recorded 26 products from a project opened for sale, the basket of goods decreased by 89% compared to June. Consumption rate decreased by 97% compared to the previous month. . Supply and liquidity in this segment recorded the lowest since the first quarter.

Particularly, the beach villa segment recorded 4 projects for sale (including 1 new project and 3 projects in the next phase), providing 179 units to the market, but only 21 units were sold, the sales rate only 12%. Consumption is at a very low level, mainly concentrated in Binh Dinh province.

This unit assessed that the resort real estate market was the hardest hit during the fourth epidemic. By July, almost all segments decelerated the most compared to the beginning of the year. The evolution of the resort real estate market depends on disease control and vaccination strategies, but the recovery will be slow and there is no chance of a sudden change in the near future.

Trung Tin

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