The COVID-19 pandemic has caused a slowdown in the property market but many experts believe this is only temporary and are pinning their hopes on a rebound once the virus is under control.
The Ministry of Construction’s proposal to allow foreigners to buy tourism property developments in Viet Nam needs careful consideration, experts have said.
Viet Nam’s tourism real estate market had the potential for strong development, but utilities and services were needed to attract investors, heard a seminar organised by the Viet Nam Real Estate Association this week.
The tourism property sector has great potential for growth thanks to the rapid growth in the tourism industry, a forum heard in HCM City last Saturday.
Property developer Novaland Group on Thursday officially launched two new tourism property projects called NovaWorld Phan Thiet and NovaWorld Binh Chau.
The tourism property market in Mui Ne, a beach town in the south-central province of Binh Thuan, has recently become a hot destination for both foreign and domestic investment thanks to its 200km coastal road and improved infrastructure.
The rapid growth of tourism has become a magnet for tourism property in Da Nang City, and revenue from the industry contributed nearly 30 per cent of the tourism hub’s GRDP in 2017.
The Mikazuki hotel Group from Japan will spend more than US$100 million to build a water park and five-star hotel on the beach of Da Nang – the biggest investment in tourism property from Japan iin the city.