Representatives of more than 200 leading Singaporean real estate companies and investors evinced interest in resort properties being developed by Sun Group.

SINGAPORE (Biz Hub) — At a two-day conference in Singapore last week, representatives of more than 200 leading Singaporean real estate companies and investors evinced interest in resort properties being developed by Sun Group.

These properties were in central Da Nang City and Kien Giang Province's Phu Quoc Island.

Leong Boon Hoe, managing director of CBRE Singapore, said that as of now prices of Vietnamese real estate in hi-end and medium segments were much lower than those in Singapore.

For example, a 300 square-metre (sq.m) villa in Sentosa Singapore is sold at between US$12.6 million and $14 million and a three-bedroom apartment is being offered at between $500,000 and $840,000.

Meanwhile, a similar villa at Sun Group's Premier Village Phu Quoc Resort, Premier Village Danang Resort, Premier Residences Phu Quoc Emerald Bay was priced between $1 million and $2 million, those at InterContinental Danang Sun Peninsula Resort between $3.8 million and $6.5 million, while an apartment in its projects was being offered at prices between $150,000 to $1 million.

Singaporeans could afford to rent apartments at $20,000 per month when they travel to the Southeast Asian countries. So they were willing to spent $15 million to purchase a vacation villa, director of Savills Singapore Phylicia Ang said.

Sun Group's several resort property projects. — VNS Photos

She added that Singaporean investors have recently paid increasing interests in Viet Nam's vacation villas whose prices remained cheaper than those in other countries. However, only projects with prestigious developers that have been recognised worldwide could attract Singaporean investors, she noted.

That is why Sun Group's projects have been receiving attention from Singaporean investors, as one of its projects - Sun Group's InterContinental Danang Sun Peninsula Resort – has been honoured as the world's leading luxury resorts for the second consecutive year at the World Travel Awards.

Singaporean real estate companies also appreciated the group's other projects in Da Nang and Phu Quoc due to their competition, their relatively lower prices, and the 9 per cent profit rate commitment in the first 9 or 10 years of the renting programme. — VNS