According to the property service group CBRE Viet Nam, Da Nang's seaside resort real estate has become attractive to domestic and foreign investors over past two years.

Illustrative image (Source: VNA)

In particular, condodel segment is becoming a magnet thanks to its profitability from expected lease in the future.

The Head of the CBRE Viet Nam Market Research and Development Consultancy unit, Ms Duong Thuy Dung, said the wave of investment in resort property is to meet visitors’ demand before and after the APEC Economic Leaders' Week in Da Nang.  She added that profitability from villa and condotel projects in vantage locations in Da Nang, Nha Trang and Phu Quoc is higher than those in Ha Noi and Ho Chi Minh City. Several projects offer annual profit of 8-10% for between 5 and 10 years.

Also according to the CBRE Viet Nam, the recent opening of a series of 4-star hotels in Da Nang, especially those along Vo Nguyen Giap, are painting a new skyline for the city.

This year, the local market will also welcome new facilities by foreign hotel brands such as Sheraton, Four Points by Sheraton, Hilton and JW Mariott. This will make Da Nang the top locality in the country in attracting foreign hospitality providers.

(Source: VNA/ DA NANG Today)