Growing interest in transaction volume
In the first 6 months of the year, Da Nang's economy maintained a stable growth momentum, with GRDP (gross regional product) in Da Nang in the first 6 months estimated to increase by 5.00%, higher than the 3.48% increase in the same period in 2023 and the city set a target of 8-8.5% increase for the whole year of 2024. Disbursement of public investment and tourism is also expected to improve in 2024. These factors have contributed to strengthening the recovery and development of the real estate market.
Data from Batdongsan.com.vn shows that the number of searches for real estate for sale in Da Nang in the second quarter of 2024 increased by 44% compared to the previous quarter and surpassed the peak of 2023. In addition, the price level of real estate for sale in Da Nang set a new milestone. This can be explained by the emergence of many high-end apartment projects in recent times, causing the average price to increase.
According to this unit's survey of hundreds of brokers in the Da Nang market, the volume of real estate transactions in this city has improved with a common product value of about 2 - 4 billion VND. Of which, up to 73% of brokers said that real estate transactions were stable or increased in the first 6 months of this year compared to 2023.
The level of interest in Da Nang real estate market has set a new milestone.
In addition, the data also shows that all types of Da Nang real estate have increased in many indicators. However, apartments are the most prominent type with the most outstanding growth. Specifically, the number of listings for Da Nang apartments for sale in the second quarter of 2024 increased by 56% compared to the first quarter, the level of interest and the asking price also increased by 39% and 14% respectively. According to a survey of brokers, 55% said that the Da Nang apartment market is gradually recovering and 27% said that this type is growing strongly.
Mr. Ha Nghiem - Director of Da Nang branch of Batdongsan.com.vn commented: "The supply of luxury apartments next to Han River is a boost for Da Nang real estate market with different prices and quality compared to previous projects".
Of which, The Filmore Da Nang is the leading project in terms of apartment selling price with an average of 120 million VND/m2. Three projects ofSun Group including Sun Symphony Residence, Sun Ponte Residence and Sun Cosmo Residence have prices ranging from 55 - 70 million VND/m2. The price base of some other projects such as The Sang Residence or Peninsula Da Nang is also from 50 - 56 million VND/m2.
In terms of demand, the trend of buying apartments in Da Nang for short-term trading has decreased compared to investing for living and renting. Specifically, 64% of brokers participating in the survey said that short-term trading has decreased compared to the previous period, more than 50% said that the demand for buying for living and investing is increasing. This trend also goes hand in hand with the expectation of profit.
Real estate investment trends in Da Nang have also changed.
"With the price level of Da Nang apartments not being low, buyers and investors also have certain expectations. Their biggest expectation lies in the rental cash flow from Da Nang's tourism growth. From 2020-2021, due to the impact of the Covid epidemic, Da Nang only welcomed 1 to 3 million visitors each year compared to nearly 9 million visitors in 2019. The city is aiming to attract about 8.4 million visitors in 2024. Therefore, many people believe that tourism will still have the potential to recover and increase again, promising stable apartment rental yields," said Mr. Ha Nghiem.
The above expectations of investors are also quite reasonable when apartments are a type of property that records high profitability, especially from the ability to rent. Data from Batdongsan.com.vn in the first half of 2024 also shows that Da Nang is one of the few cities with good apartment price growth and rental yields, from 4.2 - 4.5%.
Hanoians speed up search for apartments in Da Nang
Although the interest in Da Nang apartments from Da Nang people still accounts for the largest proportion, the strongest growth rate of interest comes from Hanoi investors. According to data from Batdongsan.com.vn, the number of searches for Da Nang apartments from Hanoi people is increasingly large and increased by 90% in the second quarter of 2024 compared to the previous quarter.
Also according to a survey by Batdongsan.com.vn, among those looking for apartments in Da Nang, only 28% are from Da Nang, the rest are from other areas. Meanwhile, this rate for land and private houses accounts for 40 - 42%, reflecting the high demand for real housing of local people.
However, Da Nang people have also become more open-minded towards apartments. 26% of brokers participating in the survey revealed that Da Nang people have changed and are proactive in learning about apartments, 59% said that they are more interested in apartments than before but still prioritize land or private houses.
The presence of Hanoi investors in the Da Nang market is increasing strongly.
For Da Nang people who are interested in apartments, the main reason is that they expect good rental income. In addition, they also pay attention to living experience, amenities, location and good infrastructure. As for those who are not open to apartments, the main reason is because Da Nang land fund is still abundant and the price is still quite good compared to apartments.
Thanks to that, types of land and private houses in Da Nang also have positive signals. The growth rate of interest in land and private houses in this locality is at the top of the country. Specifically, the number of searches for land and private houses in Da Nang in the second quarter of 2024 increased by 41% and 55% respectively compared to the first quarter of 2023. At the same time, the prices of land and private houses in Da Nang also showed signs of increasing.
According to Batdongsan.com.vn's Price History, the average selling price of land in Da Nang in the second quarter of 2024 is 33 million VND/m2, an increase of 10% over the same period last year. Meanwhile, private houses are being sold at an average price of 61 million VND/m2, an increase of 9%.
In general, the Da Nang real estate market is having development opportunities, with the positive shift of apartments and the sustainable growth of land and private houses.
Source: https://www.congluan.vn/thi-truong-bat-dong-san-da-nang-ghi-nhan-nhung-lan-song-moi-post305675.html
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