13 - 2 - 2019
COASTAL PROPERTY SEGMENT IS IN THE DEVELOPMENT STAGE WHEN A SERIES OF PROJECTS ARE MASSIVELY LAUNCHED. HOWEVER, UP TO NOW, SEA FRONT VILLAS LOCATED IN THE CENTER OF TOURISM URBAN IS STILL CONSIDERED AS A RARE PROPERTY WITH LIMITED SUPPLY.
Sea frontage - Profitable land strip
For coastal and marine tourism, one of the important factors is the sea front position. The recent tourism demand survey shows that 98% of tourists choose a location with a sea front to stay during their trips. Due to high demand, the business premises and room rates are also 20-50% higher than usual. The sea front is also the position chosen by large corporations to build chains of 4-5 star restaurants and hotels.
Website batdongsan.com.vn in early August 2019 surveyed, the land frontage price of Xuan Dieu Street, Quy Nhon City surprised when it reached 275-300 million VND/m2, the frontage of Tran Phu street (Nha city. Trang) broke all records when it went up 700 million VND/m2. The land price in front of Vo Nguyen Giap street, Da Nang is about 300 million VND per m2. Ho Xuan Huong Street (Sam Son) ranges from 80-120 million VND/m2, even the sea frontage of Phan Thiet city also ranges from 60-70 million VND/m2. In the West region, the highest recorded price is at the front of 30/4 street (Duong Dong town, Phu Quoc), adjacent to the sea and night market with transactions from 160-250 million VND/m2.
Scarce supply
In announcing the potential and prospect of the seaside real estate market in 2019, Savills said Vietnam's seaside real estate is outperformed other countries such as Indonesia, Thailand, Malaysia, the Philippines, and South Korea.
According to DKRA, the seaside real estate market continued to flourish in both supply and absorption rate. Accordingly, in the second quarter of 2019, the market received 1,734 villas, an increase of more than 8 times compared to the previous quarter (188 units), the consumption rate was about 93% and 19 times higher than the previous quarter. However, 100% of recorded sea villas are located in suburban areas, far from the city center. Some coastal projects in the central area only recorded supply from condotel or tourist apartments. This means that the type of villas facing the sea and the city center is falling into a scarcity and almost absent. The market only recorded scarce supply coming from small retail deals.
Last chance at Ha Tien Venice Villas.
With the announcement of 30 villa land plots situated on the sea frontage in Phao Dai ward, Ha Tien city, Ha Tien Venice Villas is now a rare project to satisfy the urgent need of the market.
With the goal of welcoming more than 3 million tourists in 2020, Ha Tien is currently the second largest tourist city in the Western region, after Phu Quoc. Ha Tien showed a steady growth of more than 15% per year, the city is not only ambitious to be the logistics of Phu Quoc but also becomes an attractive destination, attracting tourists from Phu Quoc, Cambodia, Thailand and retain tourists from the Mekong Delta. To actualize this goal, recently, the city has pumped white sand to renovate the entire area of Mui Nai over 10 km long and Hai Tac archipelago. This activity has made Ha Tien the only white sand beach in the West region (excluding the island), from then on, the number of tourists has increased dramatically.
The villa row possesses three rare elements: the sea front - the city center - adjacent to the Night Market
Also along with the strategy of upgrading the tourism image, Ha Tien City is aggressively diversifying tourism products, adding entertainment spots and night entertainment. Recently, on August 15th, the city officially moved the spontaneous night market on Tran Hau street to Ha Tien new urban area, adjacent to the Ha Tien Venice Villas.
It is known that this is the most exciting entertainment complex in the Western region, expected to reach over 3 million visitors (including tourists and local visitors). The market has a scale of up to 500 stalls with a series of attractive entertainment services such as an adult redemption area, a children's play area, the most flowery butterfly field in Vietnam with the area of 3,000 m2, a walking area along the canal, outdoor stage, cultural and art exchange area. This is also the venue for major festivals of the city such as the first light festival in the West (scheduled to be held from August 23 to September 6), cultural exchange with Đờn Ca Tài Tử (Southern amateur music), Tao Đàn Chiêu Anh Các festival, Lantern Festival,….
Previously, with the effect of the Night Market, Tran Hau Street was a busy trading point, real estate prices ranged from 35-40 million VND/m2. However, right after the news of the market moving to the adjacent Ha Tien Venice Villas project, the entire row of sea front villas is expected to overtake Tran Hau Street to become a vibrant and modern hotel - restaurant street.
Although owning "right time - right place" elements, CNT Group - the project development unit has just announced an unbelievable price for Ha Tien Venice Villas. Accordingly, the villas adjacent to the sea have a selling price of only 12.8 million VND/m2, while 30 villas with the best location - located right on the sea frontage will be only a few million VND difference per m2. Compared with other projects that are being offered in the market, this price is only 1/5, even 1/20 of their price. In addition, the 26-installment payment plan, only 1%/month, which was previously applied to some outstanding apartment projects, is now first applied in the villa segment, causing a big surprise for investors.
With a reasonable financial level, flexible payment methods, the customers are already become the owners of the sea frontage villas, conjoining the night market to unleash their business activities and leasing premises. Also, customers will be benefited from the rate of return coming from the increase in real estate value within the next few months.