Scant Q4 supply seen in greater Danang housing market

By Tuong Minh
Tue, October 25, 2022 | 9:48 am GMT+7

The residential market in central Vietnam’s Danang city and nearby areas is unlikely to see large supplies in all segments in the fourth quarter, a new report says.

The report for the central region, compiled by HCMC-based property services firm DKRA, estimates new Q4 supply of land plots from Greater Danang at about 700-800 plots, mainly in Danang city and Quang Nam province. Thua Thien-Hue province will have few new supplies, it says.

Primary price levels may increase slightly at a few projects that complete legal procedures and secondary-market liquidity will remain average, the report says.

In the apartment segment, new supply is expected to be about 150-200 units, mainly in Danang, while Thua Thien-Hue and Quang Nam will not have much to offer. Primary price levels will continue to be at their currently high level. Primary-market liquidity will remain at a low or average level, but the secondary market is likely to recover.

“However, high-end apartment projects in primary locations, managed and operated by international brands, will draw attention from long-term investors,” the report says.

In the townhouses and villas segment, new Q4 supply will remain the same as Q3 at about 350 to 450 units. Quang Nam province is forecast to supply more than Danang and Thua Thien-Hue in this segment. Overall demand and market liquidity will be similar to Q3. Primary price levels are likely to increase slightly and the secondary market is likely to remain stable.

In the resort segment, the regional market is likely to welcome 100 new villas in Q4, and about 100 - 200 condotel properties.

The report says Q4 will see meager supply of shophouses. Customer attention will be more on projects managed and operated by international four or five-star brands.

Greater Danang’s Q3 results

The third quarter saw 13 land-plot projects open for sale with 998 plots, down 17.2% over Q2. Among these, 586 plots were sold, or 59% of the total, which was 92% more than Q2.

New land-plot supply in Q3 was mainly from Quang Nam, accounting for 59%.

Property projects by the beach in Danang city, an economic hub in central Vietnam. Photo courtesy of Viet People newspaper.

Property projects by the beach in Danang city, an economic hub in central Vietnam. Photo courtesy of Viet People newspaper.

In the apartment segment, Q3 had three projects launch for sale, all in Danang, providing 91 units, down 64.5% over Q2. Just 43 units were bought, or 47%. Grade A apartments accounted for 89% of the total supply and 66% of the trading, and the average primary-market selling price increased by 10% - 16% compared to the beginning of the year, according to DKRA.

The townhouse and villas segment recorded seven projects for sale in Q3 with 374 units, down 36.8% against Q2. Danang accounted for 48% of the new supply. The segment saw 177 units, or 47% of the total supply, sold in Q3.

The resort segment recorded an increase in condotel supply but it was still at a very low level compared to the pre-2019 period, the report says.

The condotel segment recorded 348 condotel units on sale from two projects in Q3, 281 of which were bought. The new supply was mainly from Quang Nam and Danang. Primary-market prices continued to increase, from 5% - 8% on Q2.

Comments (0)
  • Read More
Vietnam aims to finalize negotiations for Ninh Thuan 1 nuclear power plant by August

Vietnam aims to finalize negotiations for Ninh Thuan 1 nuclear power plant by August

The Vietnamese government targets completing negotiations for Ninh Thuan 1 nuclear power plant in former Ninh Thuan province (now Khanh Hoa) by August 2025, and for Ninh Thuan 2 by May 2026 at the latest.

Energy - Fri, August 8, 2025 | 4:18 pm GMT+7

Software giant SAP invests $175 ml in R&D center in Vietnam

Software giant SAP invests $175 ml in R&D center in Vietnam

German software heavyweight SAP has officially launched a research & development center in Vietnam, with plans to invest more than €150 million ($175 million) over the next five years.

Industries - Fri, August 8, 2025 | 3:43 pm GMT+7

Carlsberg’s $130 mln plant expansion in central Vietnam set to start brewing next month

Carlsberg’s $130 mln plant expansion in central Vietnam set to start brewing next month

The expansion of Carlsberg’s brewery in Hue city, central Vietnam, with an investment of over VND3.4 trillion ($129.66 million), has entered trial runs and is scheduled to officially come into operation in September, according to a Carlsberg Vietnam report.

Industries - Fri, August 8, 2025 | 2:43 pm GMT+7

Indonesia promotes nickel-based EV battery production

Indonesia promotes nickel-based EV battery production

Indonesia is advocating regulations to encourage electric vehicle (EV) manufacturers to switch from the commonly used lithium-based batteries to nickel-based ones.

Southeast Asia - Fri, August 8, 2025 | 1:54 pm GMT+7

BRICS countries account for over 35% of Malaysia’s total foreign trade turnover

BRICS countries account for over 35% of Malaysia’s total foreign trade turnover

Malaysia’s trade with BRICS nations climbed to RM818 billion ($193.47 billion) in 2024, making up 35.2% of the country’s total global trade, according to the Ministry of Investment, Trade and Industry (MITI).

Southeast Asia - Fri, August 8, 2025 | 1:52 pm GMT+7

Vietnam consumer finance major F88’s stock hits ceiling price on UPCoM debut

Vietnam consumer finance major F88’s stock hits ceiling price on UPCoM debut

The stock of F88 Investment JSC (F88), a leading consumer finance company in Vietnam, hit its ceiling price of VND888,800 ($34) on Friday, the first day of trading on the Unlisted Public Companies Market (UPCoM).

Companies - Fri, August 8, 2025 | 1:32 pm GMT+7

US tariff unlikely to dent Vietnam’s long-term FDI appeal: broker

US tariff unlikely to dent Vietnam’s long-term FDI appeal: broker

The U.S. tariff gap between Vietnamese goods and those from four other Southeast Asian countries would not erode Vietnam’s competitive edge in manufacturing and investment, said Hanoi-based Vietcombank Securities (VCBS).

Economy - Fri, August 8, 2025 | 12:24 pm GMT+7

Land clearance for Vietnam's North-South high-speed railway project to start on December 19

Land clearance for Vietnam's North-South high-speed railway project to start on December 19

Prime Minister Pham Minh Chinh has requested localities to start land clearance en masse for the gigantic North-South high-speed railway project on December 19.

Economy - Fri, August 8, 2025 | 11:52 am GMT+7

Vietnam might launch pilot digital asset exchange in August

Vietnam might launch pilot digital asset exchange in August

A digital asset exchange might be launched in August on a pilot basis, Deputy Minister of Finance Nguyen Duc Chi told a government press meeting on Thursday.

Finance - Fri, August 8, 2025 | 11:25 am GMT+7

Vietnam’s steel giant Hoa Sen spends $34 mln on land near Long Thanh airport for urban development

Vietnam’s steel giant Hoa Sen spends $34 mln on land near Long Thanh airport for urban development

Hoa Sen Group (HoSE: HSG), Vietnam’s top producer of coated steel products, has spent VND900 billion ($34.3 million) acquiring land for a major urban development project in the southern province of Dong Nai.

Real Estate - Fri, August 8, 2025 | 8:22 am GMT+7

Halal market presents major opportunities for Vietnamese businesses

Halal market presents major opportunities for Vietnamese businesses

The global Halal market is projected to reach $5 trillion by 2030, with Malaysia alone expected to hit $113.2 billion, said Shariza binti Abdul Rasheed, Halal product manager at Maybank Malaysia.

Economy - Thu, August 7, 2025 | 9:18 pm GMT+7

Steel major Hoa Phat to pour extra $130 mln into central Vietnam plant

Steel major Hoa Phat to pour extra $130 mln into central Vietnam plant

Vietnam’s leading steelmaker, Hoa Phat Group (HoSE: HPG), will increase investment in its Dung Quat 2 iron and steel production complex by VND3.4 trillion ($129.7 million) as part of an expansion plan.

Industries - Thu, August 7, 2025 | 8:03 pm GMT+7

Vietnam’s army-backed construction firm proposes 14 offshore wind power projects

Vietnam’s army-backed construction firm proposes 14 offshore wind power projects

Lung Lo Construction Corporation (LLC), under the Ministry of National Defense, has submitted investment proposals for 14 offshore wind power projects with a combined capacity of 9,000 MW.

Energy - Thu, August 7, 2025 | 5:07 pm GMT+7

Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure

Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure

Vietnam's agri major Hoang Anh Gia Lai JSC has been fined VND92.5 million ($3,528) for failing to disclose bond-related information as required by law.

Companies - Thu, August 7, 2025 | 4:31 pm GMT+7

Northern Vietnam province accelerates $2.2 bln LNG-to-power project

Northern Vietnam province accelerates $2.2 bln LNG-to-power project

Quang Ninh province will hand over 4.9 hectares of reclaimed land to the Quang Ninh LNG-fuelled power plant project before August 11, local authorities stated at a meeting on Wednesday.

Energy - Thu, August 7, 2025 | 4:17 pm GMT+7

Vietnam's seafood firms ride profit wave ahead of US tariff hike

Vietnam's seafood firms ride profit wave ahead of US tariff hike

Vietnam’s seafood companies reported surging profits in Q2/2025, driven by importers ramping up purchases ahead of new U.S. reciprocal tariffs.

Economy - Thu, August 7, 2025 | 2:21 pm GMT+7