The numbers startled on the condotel market

24/08/2018   Viewed: 702
When the price of condotel up to "peak", the transaction leveled down, specifically in Khanh Hoa only 26% of sales, Binh Dinh 22%, even in Da Nang only sold 9%. Condotel inventories in these three provinces are 74-78-91% respectively.

A report on the real estate market in the second quarter of DKRA Vietnam (DKRA Vietnam) announced in the beginning of July showed that the condotel resort market from Da Nang to Phu Quoc in April , 5/6/1818 with the stock up. The market has 2,100 units but only 850 units.

In Phu Quoc and Ba Ria - Vung Tau, where liquidity is most optimistic, absorption is only 39-40%, equivalent to inventory level of 61-60%.

The remaining sea-tourism cities have a lower rate of absorption of condotel apartments, respectively (26%), Binh Dinh (22%) and Da Nang (9%). The inventory of condominiums in these three provinces is 74-78-91%.

In the coming time, condotel supply is forecasted to continue to increase, along with the old supply of the market is causing this segment of the potential surplus in some markets such as Nha Trang, Da Nang ... Meanwhile , condotel demand showed no sign of increasing. Many experts said that from 2018 onwards, the real estate market resort will be difficult.

To investigate the cause of this poor condotel market, PV had an interview with Mr. Nguyen Van Dinh, Permanent Vice Chairman cum General Secretary of Vietnam Real Estate Brokerage Association. According to Mr. Dinh, condotel legal clarity is not the main reason for the condotel market moisture, which the short-term investors, speculators to market, pushing prices, create waves ... is the cause.

thi truong condotel
Market condotel is alarming surplus supply, damp when demand does not show signs of increasing ...
"When the condotel market starts to develop in the early years, the price is not high, many people determine the price will increase attractive over time, according to the project. This has attracted many investors, of which There are short-term investors and speculators. Short traders and speculators often jump into the market when prices are low, then always generate waves, "push" prices in the market because it is the purpose. to make the fastest profit in the shortest time, "Dinh said.

According to Mr. Dinh, condotel prices in the area has been formed a long "push" up quite high. For example in Da Nang, Nha Trang ... the price of condotel apartments is lowest from 35 million m2, even 60,000-70,000 m2. This price is too high compared to non-residential apartment but a tourist apartment.

Mr. Dinh said that the price has reached the "peak", then the level of sales will slow down in the transaction, consumers will not accept the purchase price is too high when the investment is huge. inconsistent. When the market is closed, investors will have promotional policies, gifts ... that is a form of discount, and when the tendency to reduce prices, short-term investors will not participate anymore, They pulled out of the condotel market and could sell off those products. Demand on the market today only people with real investment needs, long-term investment, the market does not see the exciting again. Therefore, the sale is more difficult because of lack of short-term investors, create market, push the market price.

Moreover, the short-term investors together with speculation pushed back will make the ownership between the first purchase contract with the second and third buyer's contract ... create unreasonable For long term users and influence the market.

Dinh said that short-term investors, speculators to withdraw from the condotel market will cause investors to reduce their selling power, but the capital mobilization is reduced but they are not facing risks.

"If only short-term investors and speculators, the ability to mobilize capital is only 20-30%, so it is not enough to continue to complete the project. The risk to them is very high. If the owner attracts real customers, it is possible to obtain all the proceeds from the sale of the product, possibly complete the project to put the project on schedule and put to exploit the business to make the earliest profit ".

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