Recently, the number of buying and selling transactions in houses and residential lots has increased after a downturn in Da Nang’s the real estate market for a long period. Encouraging signs for the city’s property market has been attributed to the increasing number of real estate projects that have been announced, have broken ground, and are currently under construction. Therefore,  Da Nang’s property market is expected to improve  in the near future.

The Sun Cosmo Residence project is under construction, creating a vibrant atmosphere in the city's construction activity. Photo: NAM TRAN

The announcement of Da Nang’s Planning for the 2021-2030 period, with a vision to 2050 has had a positive impact on the city’s real estate industry with the reopening of kiosks and counters for real estate introduction and transaction.

According to some real estate brokers, the number of buying and selling transactions in houses and residential lots has increased significantly. Many people show a keen interest in buying houses and residential lots at cheap prices or in areas where key and dynamic projects will soon be developed.

In early December, many people asked to buy houses and residential lots in Tho Quang Ward, Son Tra District after the Sun Frontier Da Nang Company had launched its Hiyori Aqua Tower project at the corner of Le Duc Tho and Ngo Cao Lang streets. The new development features 25 floors, 2 basements, and 202 apartments, and it is expected to be completed in the second quarter of 2026.

Two weeks earlier, a launching ceremony to introduce and sign a cooperation agreement to sell building products of the One Tower project with real estate agents held by the Kyoritsu Maintenance Vietnam Company had stirred the city’s property market. The project has 3 frontages facing the September 2, Binh Hien and Dao Tan streets, in Hai Chau District. The new development features 25 floors,3 basements, 62 offices, 96 dual-purpose rooms that can be workspaces by day and bedrooms by night, 92 tourist apartments with coffee areas, restaurants, shopping areas, and other utilities.

This project is considered to be a pioneering project to join the Workation Travel Trend. Workation stands for working remotely while on holiday and is becoming more popular as the workplace tries to catch up with the need for flexibility.

Mrs. Vu Thi Nhu Mai, a legal representative of the Kyoritsu Maintenance Vietnam Company shared: "The One Tower project is the first of its kind in the company's development strategy in the key market of Da Nang. The project not only contributes to supplying 200 built products, but it is expected to become a new symbol of the city, and a new attraction of Da Nang which is one of the best cities in Viet Nam for living and investing.

The Cosmo Housing Joint Stock Company has just held a groundbreaking for the the Da Nang LandMark Tower in the residential, hotel, apartment and commercial service complex located in the September 2 Street, Binh Thuan Ward, Hai Chau District. The new development features two 31 floor- towers which will offer 39 floor spaces with a total of 446 luxury apartments, and 8 apartments for both living and trading purposes. The project has a total investment capital of VND 1,600 billion, and it is expected to be completed and put into use in the fourth quarter of 2025.

Meanwhile, nearly 7 months after work started on the Sun Cosmo Residence project, the construction of the project’s subdivisions along both sides of the approach road to the eastern end of Tran Thi Ly Bridge has been done quickly and efficiently, causing a stir in the city’s construction industry which has experienced a slump for a prolonged time. In particular, the low-rise subdivision will offer 101 townhouses that will each have between 6-7 floors. Till date, floors 5^th to 6^th of these townhouses have been already completed while floors 1^st to 2^nd  of townhouses in the B2-5 block has been finished.

As for the high-rise subdivision, basements of the Panoma 27- floor building and the Panoma Two 33- floor building are under construction. Some real estate agents for the two subdivisions of The Cosmo and The Panoma has just sent a written announcement of a 5% increase in the expected price of these subdivisions to their partners, investors, and customers. This shows the attractiveness of this project as well as marks good signs for Da Nang’s real estate market after it has experienced a slump for 3 years due to the impact of the Covid-19 pandemic.

Reporting by NAM TRAN – translating by H.L