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'Da Nang City Vietnam has many opportunities to develop high-class real estate'

Da Nang City is located in the central region, evenly dividing the distance between Hanoi Capital City and Ho Chi Minh City. It is also the center of three world cultural heritages: Hue Ancient Capital, Hoi An Ancient Town, and My Son Sanctuary. Da Nang borders Thua Thien - Hue province to the north, Quang Nam Province to the west and south, and the East Sea to the east. 
With the development of the economy, rapid population growth, and tourism creating certain impressions, Mr. Nguyen Van Dinh - Vice Chairman of the Vietnam Real Estate Association, shared more about Da Nang's real estate potential. 

Da Nang Vietnam's advantages  to promote the real estate market

To assess the real estate market's potential, it is necessary to look at it from many angles, including economic development, planning, living environment, population, etc.
Specifically, Da Nang currently has nearly 1.2 million people, of which about 40% of the population is of working age. The population growth rate in the past ten years will average about 2.5%, and the plan is to reach 1.5 million people by 2030.
Da Nang City, Vietnam, also attracts foreigners such as Korea, Japanese, USA, Australia, UK... to reside. In 2022, it is estimated that foreigners coming to reside to work in Da Nang will reach nearly 100,000 people, accounting for about 10% of the population rate. When choosing a place to live, foreign experts have carefully assessed the quality of the living environment, utilities, and services to meet the standards in choosing a place to live and work. 
Economically, it has experienced impressive growth in recent years. In 2022, Da Nang's economic growth will reach over 14%, ranking third in the country. GRDP per capita will reach 102.6 million VND, up 13.8% compared to 2021.This place possesses the advantage of the landscape, converging enough mountains, forests, sea, and rivers, creating a population with many materials for tourism development. Besides working with Quang Nam to create a focal area for tourism development, the city is heavily invested in the connected transport infrastructure system to promote its available advantages and potentials. Regarding planning, Da Nang has been adjusted to improve the urban level, gradually turning it into a "new Singapore of Asia."

Positive signals from the economy affect Da Nang real estate market 

Da Nang real estate market is very scarce new sources of goods. Currently, the Government is promoting the removal of difficulties in terms of mechanisms and laws, creating conditions to speed up the project progress to help the market revive. However, these regulations take time to implement, so there is a delay. It is also an opportunity to adjust mechanisms and policies better and purify the market.
The nature of the market is good; the demand for investment and business in real estate and housing is very high. Even during the Covid-19 pandemic, Vietnam's economy still has positive growth. In the context of the world economic crisis, Vietnam still has impressive financial growth numbers.This growth comes from export activities, infrastructure development, public investment, transport systems connecting the whole country, and the urban growth rate of over 40%. All these activities promote demand for housing and business investment. Therefore, we assess the development potential of the real estate market in Vietnam as relatively high. The Danang real estate market will recover from now until the end of the year. 

Upcoming real estate model in Da Nang Vietnam

Da Nang has great space to develop new urban areas such as smart cities, green cities, and modern real estate complexes with full utilities. Because foreigners with high incomes always need urban areas that meet the living environment and service quality requirements.
This creates advantages for high-end real estate types. A number of large investors are researching and promoting the development of high-end and modern real estate models. We assess that the Da Nang market will be upgraded and affirmed when such products are available.

High-end real estate associated with tourism and resort in Da Nang Vietnam

Da Nang has significant advantages in developing the tourism economy, which welcomes millions of international visitors annually. Many investors have set foot here, and some projects partially meet the demand. However, there is still room to develop resort tourism, as well as high-end real estate associated with resort tourism, to attract luxury guests. Da Nang will increasingly attract international tourists, especially the rich stream if well designed. 
The locality also has good infrastructure to form a beach tourism city with the contribution of many businesses such as Sun Group and Vingroup. When the influx of tourists comes to Da Nang, real estate value will increase, promoting the efficiency of business exploitation. Because rich person goes to tourist destinations that meet the criteria, the quality of service will make them spend many times more than other tourists. Thus, high-end real estate associated with resort tourism has the advantage of exploiting effectively. 
Those high-end properties also attract secondary investors. Those are the areas we see for developers to research and create high-class products and differentiated services. 


The real estate value in Da Nang has been relatively stable for the past 3-4 years. In 2017-2018, house prices in some projects ranged from 30-60 million VND per m2, recently increasing to about 70-80 million VND in some prime locations. It is still a "comfortable" price in a developing coastal tourist city like Da Nang. With the current investment, the growth potential of the city's real estate will still be huge.

See more:

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Selling off real estate was forced to cut the price by half in the south of Vietnam

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