It will be an exciting year for resort development in the central coastal region with 700 rooms being added, real-estate consultant CB Richard Ellis has said in a report.
This will take the number of rooms in the region from Danang to Hoi An to 2,000.
The new rooms will be supplied by Silver Shore International Resort, Olalani, and Life Resort when they open to guests this quarter.
Half of the rooms will be in Danang-based four- and five-star resorts, tripling supply in Vietnam’s fourth-largest city.
But the new supply means it will outpace demand in the short term, softening occupancy rates this year despite a forecast of rising international tourist numbers to Danang, thanks to the global economic recovery and the receding swine-flu fears.
Supply is expected to quadruple in the next seven years with the construction of 34 resorts on the Danang-Hoi An stretch.
The market for resort condominiums and villas in Danang, dominated by two-bedroom condos and three-bedroom villas, will also see an upturn this year with the revival of projects that had been stalled by the economic downturn.
Condo supply is expected to top 700 units in 2010-11 -- against 374 last year -- with a total of 80,000 square meters of floor area.
The supply of villas is expected to hit 700 units, also almost double the current number.
The expected new developments are An Vie Da Nang Resort, Le Meridien, Hyatt Regency, Ocean Villas, Nam Long, Montgomerie, Vin Pearl Da Nang, and Son Tra Resort.
Around 63 percent of condos were sold out last year, with 80 percent of the buyers coming from Hanoi.
Investors have to be cautious when entering the market since “speculation is quite high” as many of the purchases have been in the form of “reservations.”
This will take the number of rooms in the region from Danang to Hoi An to 2,000.
The new rooms will be supplied by Silver Shore International Resort, Olalani, and Life Resort when they open to guests this quarter.
Half of the rooms will be in Danang-based four- and five-star resorts, tripling supply in Vietnam’s fourth-largest city.
But the new supply means it will outpace demand in the short term, softening occupancy rates this year despite a forecast of rising international tourist numbers to Danang, thanks to the global economic recovery and the receding swine-flu fears.
Supply is expected to quadruple in the next seven years with the construction of 34 resorts on the Danang-Hoi An stretch.
The market for resort condominiums and villas in Danang, dominated by two-bedroom condos and three-bedroom villas, will also see an upturn this year with the revival of projects that had been stalled by the economic downturn.
Condo supply is expected to top 700 units in 2010-11 -- against 374 last year -- with a total of 80,000 square meters of floor area.
The supply of villas is expected to hit 700 units, also almost double the current number.
The expected new developments are An Vie Da Nang Resort, Le Meridien, Hyatt Regency, Ocean Villas, Nam Long, Montgomerie, Vin Pearl Da Nang, and Son Tra Resort.
Around 63 percent of condos were sold out last year, with 80 percent of the buyers coming from Hanoi.
Investors have to be cautious when entering the market since “speculation is quite high” as many of the purchases have been in the form of “reservations.”
Vietnews
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