Scant Q4 supply seen in greater Danang housing market
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%.
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.
- Read More
Vietnam needs large, specialized logistics centers to compete better: official
Vietnam needs large-scale, specialized logistics centers that will enable greater competitiveness of local economies and enterprises, says Tran Thanh Hai, deputy head of the Ministry of Industry and Trade's agency of foreign trade.
Economy - Sun, November 3, 2024 | 11:00 am GMT+7
Vietnam manufacturing sector sees 35% increase in Q3 job orders: Adecco
Vietnam’s manufacturing and sourcing sectors saw a substantial 35% year-on-year increase and a 52% quarter-on-quarter increase in Q3/2024 job orders, global workforce solutions provider Adecco said in a reseach report released Thursday.
Economy - Sun, November 3, 2024 | 9:00 am GMT+7
Construction majors to continue capitalizing on public investment projects
Vietnamese construction giants are expected to continue capitalizing on public investment projects for the remainder of this year after delivering strong performances in the third quarter, analysts say.
Companies - Sun, November 3, 2024 | 8:00 am GMT+7
Former Government Office chairman receives $7,900 bribe from property project
Mai Tien Dung, former Minister-Government Office Chairman, received a bribe worth VND200 million ($7,900) from Nguyen Cao Tri, owner of the Dai Ninh eco-resort and urban area project in Lam Dong province.
Society - Sat, November 2, 2024 | 9:13 pm GMT+7
Thai food giant CP enters public-private partnership to promote food system transformation
Thai-invested C.P. Vietnam Livestock JSC and the Partnership for Sustainable Agriculture Vietnam (PSAV) signed a memorandum of understanding Friday on working together to advance sustainable agriculture in the country.
Companies - Sat, November 2, 2024 | 7:16 pm GMT+7
Central Vietnam province Quang Ngai to begin work on new VSIP industrial park next year
Vietnam’s central province of Quang Ngai will work with the investor to have construction of VSIP II Quang Ngai, a facility based on the Vietnam-Singapore Industrial Park (VSIP) model, begin in August 2025.
Industrial real estate - Sat, November 2, 2024 | 3:47 pm GMT+7
Vietnam likely to grow 6.5% in 2024-2025: VinaCapital
VinaCapital, among the biggest foreign-run asset managers in Vietnam, has forecast the country’s economy to achieve 6.5% growth in both 2024 and 2025, with the composition of the expansion to change to more domestically driven factors next year.
Economy - Sat, November 2, 2024 | 2:00 pm GMT+7
Major Vietnamese developer Novaland appoints new CEO
Duong Van Bac, who joined Novaland as chief financial officer in August 2023, has been appointed general director, starting Friday.
Companies - Sat, November 2, 2024 | 10:24 am GMT+7
Vietnamese conglomerate Bamboo Capital posts 36-fold profit growth in Q3
Ho Chi Minh City-based Bamboo Capital Group recorded an after-tax profit of VND331.2 billion ($13.1 million) in the third quarter of 2024, an astounding 36-fold expansion year-on-year.
Southeast Asia - Sat, November 2, 2024 | 9:41 am GMT+7
ThaiBev to bag $54 mln from Sabeco’s upcoming dividend payout
Vietnam Beverage, wholly owned by Thai Beverage (ThaiBev) will rake in VND1,374 billion ($54.26 million) worth of dividend from Ho Chi Minh City-based top brewer Sabeco.
Companies - Sat, November 2, 2024 | 9:13 am GMT+7
Steel heavyweight Hoa Phat pours over $2 bln into central Vietnam complex
Leading Vietnamese steelmaker Hoa Phat had invested more than VND52.5 trillion ($2.08 billion) in its Dung Quat Iron and Steel Integrated Complex (Dung Quat 2) in the central province of Quang Ngai as of Q3/2024.
Industries - Sat, November 2, 2024 | 8:00 am GMT+7
Vietnam becomes Australia’s fastest-growing inbound market
The number of Vietnamese tourists to Australia has grown significantly after the Covid-19 pandemic, with nearly 178,000 reported in the 12 months to August 2024, according to a Friday press release by the Australian Minister for Trade and Tourism’s Office.
Southeast Asia - Fri, November 1, 2024 | 10:02 pm GMT+7
Study finds shift in Thai consumers’ spending patterns
Consumers in Thailand are shifting their spending focus to experiences and investments, according to the latest ASEAN Consumer Sentiment Study (ACSS) by United Overseas Bank (UOB).
Southeast Asia - Fri, November 1, 2024 | 10:00 pm GMT+7
Energy security, digitalization key to Indonesia's economic growth
The Indonesian government is prioritizing long-term economic growth through energy security, digitalization, and natural resource industrialization, according to Deputy Minister of Finance Thomas Djiwandono.
Southeast Asia - Fri, November 1, 2024 | 9:58 pm GMT+7
Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM
Prime Minister Pham Minh Chinh’s freshly ended six-day trip to the UAE, Saudi Arabia and Qatar has produced important outcomes, demonstrating the growing relations between Vietnam and the three Middle-East countries, Deputy Prime Minister and Foreign Minister Bui Thanh Son told the Vietnam News Agency.
Politics - Fri, November 1, 2024 | 9:25 pm GMT+7
Vietnam, Qatar look to tap potential for energy, oil & gas collaboration
Vietnam and Qatar have recognized the significant potential for further collaboration in multiple sectors such as energy, oil and gas, especially LNG, agriculture, Halal industry, and banking.
Politics - Fri, November 1, 2024 | 9:02 pm GMT+7