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Resort real estate ‘hibernate’ for a long time

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During the peak season of anti-epidemic isolation, the supply of projects along the southern and central coasts fell, with record poor liquidity.

DKRA Vietnam’s resort real estate report said that in August, the liquidity of the coastal housing market from Thua Thien Hue to Phu Quoc fell into a long-term freeze.

In the beach villa segment, 2 projects were launched for sale, providing 47 units to the market, although the monthly basket in August decreased by 74% compared to July, but only 3 units were sold, the ratio of consumption to new supply only 6%. Liquidity of beach villas decreased by 86% compared to last month’s purchasing power.

The impact of the epidemic caused new supply and market demand to plummet, recording the lowest level since the beginning of the year. New supply is concentrated locally in two localities Khanh Hoa and Phu Yen. Currently, many projects are in the preparation stage, expected in the last months of the year if the epidemic situation is under control.

The coastal real estate market is located along Tran Phu Street, Nha Trang. Photo: Vuong Manh Cuong

Meanwhile, the beach townhouse segment (sea shophouse) throughout August, the whole market opened for sale 34 units, but only sold 4 units. Many projects had to suspend implementation and lock shopping carts due to the intense outbreak of the disease in the past month. According to the survey of this unit, if the epidemic is well controlled in the fourth quarter, the new supply will mainly focus on Binh Thuan, Ba Ria – Vung Tau and Khanh Hoa, but the recovery will be slow.

Condotel alone fell into the deepest “hibernation” state of the resort real estate market, for two consecutive months, no new supply was recorded, zero liquidity. DKRA assesses this as the segment hardest hit by the Covid-19 outbreak so far. The overall demand in the market is very low. The future supply of condotels will be mainly concentrated in Binh Thuan, Da Nang and Quang Nam.

Experts predict that the prolonged impact of the pandemic from 2020 to the third quarter of 2021 will continue to make the resort real estate market suffer heavy impacts in the last months of the year. Even if the epidemic situation is effectively controlled, it is difficult for the coastal real estate market to defrost quickly because it depends on many combined solution packages such as maintaining the green zone, the widespread vaccination campaign. quickly and aware of epidemic prevention.

Trung Tin

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