The supplies of residential land lots across Da Nang is likely to increase slightly for the rest of the year, whilst a few improvements are forecast to be recorded in the consumption of this popular segment.

A beautiful corner of Da Nang (Photo: baodanang.vn)

Such a prediction was made by the Ho Chi Minh City-headquartered DKRA Viet Nam Joint Stock Company in its latest report on residential real estate market in Da Nang over the past 7 months and its outlook for the rest of the year.

Between January and July, many housing segments in Da Nang embraced for a sharp decline in supply and consumption due to the negative impact of the Covid-19 pandemic.

During the 7-month period, 131 residential lots, mainly in the districts of Lien Chieu and Ngu Hanh Son, were put up for sale, only 90 of which, or 69% of the total, were purchased.

With regard to the apartment segment, only 3 projects located in the districts of Son Tra and Hai Chau, were launched for sale, providing a combined total of about 156 apartments, equal to 32% of the figure recorded in the same period last year.  Meanwhile, the consumption rate in this segment stood at only 42%.

Likewise, the holiday resorts segment, which used to be one of the city’s most prospective, has till remained ‘in hibernation’ over recent months.

Also getting stuck in the same trouble, such other segments as shophouses and villas saw no new projects being recorded in the city during the 7-month period.

The segments of apartments, shophouses, villas are predicted to remain on scarce supplies, and their overall purchasing power are likely to be kept at a low level over the remaining months of the year.

The prices of apartments, shophouses, villas are highly likely to maintain its sideways trend without much volatility compared to the start of the year.  However, a slight decrease in the price may occur in a few single transactions as some investors face financial flow problems triggered by the Covid-19 outbreak.

By TRIEU TUNG- Translated by A.T