New opportunities for Da Nang real estate

For decades, Da Nang has been the choice of domestic real estate investors. Although there have been many sudden increases, according to experts, Da Nang real estate has always grown steadily.

Real estate in the urban area along the Co Co River is expected to warm up. Photo: D. Vinh

After more than 20 years of planning and renovation, the center of Da Nang city has a synchronous infrastructure. Da Nang is a dynamic urban area of ​​the whole region. This is also the place that real estate investors nationwide are interested in. Unlike the land fever when there were rumors of province mergers a few months ago, the real estate market in Da Nang city has grown recently and is entering a real and stable trading cycle.

When Da Nang and Quang Nam merge, the new Da Nang city will be a multifunctional urban area with many outstanding advantages.

According to Mr. Nguyen Tien Quang - Director of Vietnam Chamber of Commerce and Industry - Da Nang Branch: Da Nang will be a super city on many levels and the locality is developing an international financial center; 7 locations are planned to build free trade zones with more than 1,800 hectares, having a great impact on the real estate sector.

Since the beginning of the year, the real estate market in Da Nang city has had very substantial transactions. According to a survey, real estate prices increased by more than 10% and have exceeded the peak of 2019. Many coastal areas and urban areas near the city center have recorded a large number of real estate transactions.

Mr. Tan Hong (a professional real estate broker) shared that after July 1st until now, many central areas of Da Nang city have had a land fever. In many urban areas, the supply is limited because most of the previous speculators have sold off their goods to make liquidity for the bank. The current real estate owners are mostly people with stable finances. Many people who buy land have the need to build houses.

According to Mr. Nguyen Duc Lap - Director of the Da Nang Real Estate Research and Training Institute: Da Nang has long had a strong brand in real estate. When Quang Nam is merged into Da Nang city, it will stimulate and increase the real estate market in the Quang Nam area.

For many years, land revenue has always been an important contributor to the budget revenue of Da Nang city. In fact, since the beginning of the year, Da Nang real estate has grown positively. The current adjustment of new land prices is close to market prices. With this new land price, real estate prices will also increase slightly.

Currently, in the area bordering the center of Da Nang and the coastal area, real estate prices have increased dramatically. Even in the Dien Nam - Dien Ngoc New Urban Area, which is over 3,000 hectares wide, many projects have been restarted. Projects along the Co Co River and the coast are welcoming a new wave of investment, as infrastructure is gradually completed.

Mr. Doan Thanh Phong - Project Director of Minh Minh Group Corporation in Da Nang commented: The real estate market along the coast of Da Nang is increasing after Quang Nam merged into Da Nang. Land prices in satellite urban areas, especially Dien Ban area, are also increasing.

The worrying thing now is that in the old Tam Ky city area, real estate transactions are very quiet. If the Da Nang city government clears the bottleneck of more than 170 real estate projects, it will create a boost for the development of satellite cities. Obviously, this will be a great opportunity for the real estate market to develop more strongly.

Source: https://baodanang.vn/co-hoi-moi-cua-bat-dong-san-da-nang-3265472.html