Although transaction levels were still low, Danang’s second-home villa market in the last four months has seen the number of orders and customers interest increase, CBRE reported.
CBRE market review showed in the second quarter, the second-home villa market in Danang recorded more than 10 sales across projects including Ocean Villas, the Point, Vinpearl Luxury Villas and Furama Pool Villas The sales rate moved to 55.5 per cent, a 2.5 percentage point quarter-on-quarter increase.
Vietnam Sotheby’s International Realty, the exclusive sales agent for the Hyatt Regency Danang Residences, has also reported a new influx of purchasers and is seeing an upward trend in resort sales.
Michael Piro, general director of Vietnam Sotheby’s International Realty, claimed sophisticated domestic investors were returning to while more foreign purchasers were seeking opportunities in an emerging holiday home market.
“We have been able to sell over 30 per cent of the remaining inventory of the Hyatt Regency Danang Residences and, in addition, have re-sold several units since the beginning of the year. In light of this, we are confident that clients are still looking for prime holiday homes,” Piro said.
Businessman Doan Hieu Minh said the primary reason for his family to purchase a villa at the Hyatt was the resort’s excellent location.
“For years our family has travelled to Danang to spend time together without the distractions of work and life in the city. The seaside location is excellent for relaxation and gives us a chance to enjoy quality time with our family,” said Minh.
“Now the development is complete we are happy with our investment as the resort is everything we dreamed it would be and is an excellent place to enjoy vacations with my family,” he added.
At the moment, only four out of 27 villas, and 27 out of 183 condos are left for sales from Hyatt Regency Danang Residences. As there is a good mix of units in different price ranges still available, clients have a range of options of one- to three-bedroom units starting from $200,000.
With the decreasing supply of villas and condos at Hyatt Regency Danang, the developer is expected to increase prices shortly for all remaining units, a tribute to the completion of the resort and reflecting the demand for the product in its marketplace.
The developer Indochina Land has announced that from September 1-3, it would hold a special sales event at the Hyatt’s duplex penthouse for buyers to explore fully-furnished condos at the last tower, which is selling for at least $340,000 a unit.