The year 2021 is gradually closing with many ups and downs of the real estate market in general. And the resort real estate segment in particular. In addition to the decline in both supply and transaction volume, according to experts. The legal regulations on real estate for tourism and resorts are still scattered in many different laws. Asynchronous, and inconsistent. Most are causing confusion in management in localities,. Creating “bottlenecks” for business activities.
Although in the last months of the year
The situation is better, but the absorption rate and total transaction volume of tourism. Resort real estate are still far behind in previous years.
Specifically, according to data from the Vietnam Real Estate Brokers Association from the end of the third quarter of 2021 until now. When the social distance is eased. The market is more positive, but the number of products being offered for sale on the market is just over 7,000 products, transactions reached nearly 2,280 products. Equivalent to an absorption rate of only 31.6%.
Provinces and cities that recorded many products for sale include Da Nang, PhuQuoc. Quang Nam, QuangNinh, Phu Yen, KhanhHoa, BinhThuan, ThanhHoa…
PhuQuoc is being oriented to become a land with 12 months being the festival season. wWhich will bring great investment opportunities for domestic and foreign investors.
PhuQuoc is promising to become a “New Singapore of Asia”
The year 2021 continues to mark the international recognition for the paradise island. PhuQuoc has been in the top 100 best destinations in the world voted by Time magazine. And in the top 15 best islands in the world for retirement, voted by The International Living.
As of early 2021, PhuQuoc city has 326 investment projects. With a total registered investment capital of more than 354,700 billion VND; in which there are large economic groups that likene to big companies of Vietnamese such as Sun Group, Vingroup …
Previously, in 2020, Tripadvisor announced the list of emerging destinations voted the most by tourists, in which PhuQuoc was in 7th place. Pearl Island has become increasingly the first choice of domestic and foreign tourists. country.
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However, this positive figure is still very modest when compared to the “peak period” of resort real estate in the years 2015-2018. Specifically, according to data from VARs, in KhanhHoa province alone, in 2017. The supply of condotels in KhanhHoa province reached 11,872 units and there were about 7,198 resort real estate transactions during the year. And in the top 15 best islands in the world for retirement, voted by The International Living.
Although under the double impact of the COVID-19 pandemic and the limited legal corridor. Over the past time, businesses developing tourism real estate have also made “adaptations” to survive. at and towards development.
Many businesses developing resort real estate products have added conveniences to their products such as relaxation. Discovery, entertainment, shopping, health care. cCultural exploration. location… and initially attracted the attention of customers.
Light in the end of tunnel
According to Deputy General Secretary of the Vietnam Real Estate Brokers Association,. The picture of the tourism-resort real estate market in 2022 may improve thanks to the provisions of the revised Investment Law 2020 and the Land Law. 2013 revisions in progress; including legal issues of tourism real estate.
In addition, according to him,. Localities are currently implementing plans to safely adapt to the new situation under Resolution 128 of the Government. Which has helped tourism activities begin to warm up. The existing difficulties of the resort real estate market are force majeure due to the epidemic. But with its inherent multi-faceted advantages. Being one of the localities that allowe by the Government to welcome international guests with valid passports.
At the earliest, KhanhHoa tourism is facing many opportunities to prosper in the new normal period. Most are causing confusion in management in localities, creating “bottlenecks” for business activities.Conclusion
The time before tourism accelerates development is an ideal opportunity for investors to choose a channel to receive waves. Especially in the context of the increasingly scarce supply of the resort real estate segment.
In fact, since appearing in Vietnam, resort real estate products have attracted the attention of many investors. However, later, due to legal problems related to the “identification” of real estate types in this segment, typically hotel apartments.