HCMC – Despite local condo projects struggling with slowing demand from buyers, many developers of resort villas have still released a series of new products onto the market.
Cen Group has just introduced to investors in HCMC the Venesia Onsen Villas project belonging to the Venesia Nha Trang urban area scheme. Invested by Ha Quang Land, the 150-hectare project is only one kilometer from the center of the central coastal city of Nha Trang in Khanh Hoa Province.
The project owner will set aside around 161,000 square meters for developing villas, 279,000 square meters for townhouses and 30,000 square meters for low-cost housing besides other public facilities.
The villas are for sale from VND8 million per square meter with a flexible payment between 18 months to 24 months. For buyers wanting to lease out the villas, the developer commits to renting the villas with a profit of VND200 million for two years.
Villa projects trading is a small segment of the whole realty market targeting customers having strong financial capacity with sea-front resort villas that may be priced as high as over one million dollars.
In the central region, Quang Nam Province and Danang City are home to multiple tourism property schemes, especially apartment buildings and villa projects worth from several hundreds of thousands of dollars to over US$2 million.
Surveys conducted by CB Richard Ellis Vietnam (CBRE) indicated that the Danang real estate market has suffered stagnant consumption but it has still attracted consumers with condos already completed or near completion. CBRE forecast the Danang market would have 133 more villas from three new projects launched for sale in the next year, at VND10-16 billion per unit, or US$500,000-800,000.
Similarly, Tuan Chau Group and Jen Capital under the umbrella of Hong Kong’s Chiaphua Group have joined forces to develop more resort areas in Halong Bay in the northern province of Quang Ninh.
The joint venture company plans to invest approximately VND1 trillion to turn the three-hectare area on Tuan Chau Island into the Caye Sereno resort project with 18 luxury villas.
Source: The Saigon Times