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VNRE - While other real estate segments are lacklustre, the vacation property is getting warmer because it exerts a pull on investors.

Some vacation property projects in Da Nang, Nha Trang, Ba Ria - Vung Tau and Mui Ne (Phan Thiet) are boisterously being offered for sales. For example, in Da Nang City, Meridian Real Estate Company opened its seaside vacation property project, The Summit. At this sale opening, apartments overlooking Thuan Phuoc Bridge, Son Tra Peninsula and Thanh Binh Coast are booked for purchase by many investors. Not far from that, Golden Hill project was opened for second sales during the Reunification holidays (April 30).

In Vung Tau City, Cotec Investment and Land-house Development Joint Stock Company (Cotecland) and Asian Tourism and construction Investment Joint Stock Company (CotecAsia) opened sample apartments in its Blue Sapphire project on Chi Linh Coast. In Nha Trang City, Ocean Hotels and Services Joint Stock Company (OceanHospitality) introduced Condotel Stacity Nha Trang project which consists of a 283-room, four-star hotel. Many investors attended and asked for ownership procedures.

Richard Leech, Managing Director of CBRE Vietnam, said that the current economic reality of Vietnam offers little safe business opportunities given tightened USD exchange and gold trading, Vietnamese dong devaluation and stock market slump. Hence, investing in vacation property becomes a safe and profitable channel. From the angle of buyers, this is a good time to buy and this travel season will be their first experience with this type of real estate.

According to Mr Leech, guaranteed tourist sites will catch the attention of investors who are recommended to take into consideration location, area, infrastructure, operator and payback possibility. Vacation property is a promising option for investors.

Reported by Le Phuong | VCCI News

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Anonymous said... May 17, 2011 at 2:16 PM

Looks good.