Da Nang real estate market: Strong growth but need to balance supply and demand

Experts say the Da Nang apartment market is entering a new growth cycle. Illustration photo: TRONG HUNG

A series of projects restarted

In 2024, the Department of Construction of Da Nang City will continuously announce projects eligible to sell future housing, removing many legal bottlenecks, releasing long-term "compressed" supply.

Typical examples include the high-rise apartment complex in the New Town commercial and sports service urban area (Ngu Hanh Son) with more than 1,700 apartments; the Olalani Riverside Towers project on the Han River provides more than 1,400 apartments, with both river and sea views, promising to be a new architectural highlight.

In the center, Bac Cuong Tower with more than 100 apartments meets real housing needs; Peninsula Da Nang reopens for sale in the luxury segment; The Sang Residence handed over more than 400 apartments within the year.

In addition,FPT City added hundreds of apartments and townhouses; the Hoa Xuan ward area expanded the villa subdivision along the Cam Le river. In just one year, a series of projects from mid-range to high-end simultaneously returned, signaling a new development cycle.

In addition to medium-scale projects, the Lang Van super project is considered a "boost" for the real estate market. With an area of over 500 hectares and an investment capital of nearly 44,000 billion VND, the project will form a "city within a city" including villas, apartments, resorts, commercial centers and entertainment services.

After being confirmed as eligible to mobilize nearly 17,000 billion VND to implement the housing project, Lang Van promises not only to create momentum for the real estate market but also to create tens of thousands of jobs, promoting trade and tourism. This is also a key project in the northwest development strategy, linked to Lien Chieu port and inter-regional highways.

Mr. Ho Van Duy, a real estate investor from Hanoi, commented that when Lang Van comes into operation, the supply of housing and services in Da Nang will be improved, at the same time raising the city's position on the international resort urban map.

Unlike before, this boom, Da Nang not only focuses on commercial apartments but also focuses on developing social housing. According to the housing development program 2021 - 2030, the city has planned 69 areas, of which 15 are being implemented. Many projects such as An Trung 2, Hoa Khanh Industrial Park workers' apartments or areas in Cam Le, Ngu Hanh Son are speeding up progress, adding thousands of affordable apartments for people.

The synchronous development of high-end commerce and social housing contributes to diversifying the market and improving the product line. Primary prices are currently stable, while secondary prices have increased slightly, about 4% compared to the end of 2024, showing a sustainable recovery trend, no longer "virtual fever".

Towards harmonious and sustainable development

According to Ms. Duong Thuy Dung, Executive Director of CBRE Vietnam's research department (a unit specializing in researching the Vietnamese real estate market), previously Da Nang real estate was mainly houses attached to land.

In the past two years, the trend has changed as apartments have developed strongly and been positively received by the market. Primary apartment prices have increased by 27% in just one year. Projects opened for sale from 2024 to now have recorded prices from 65 million VND/ ^m2 ; many projects along the Han River have reached 130 - 200 million VND/m2. In the first 7 months of 2025, supply increased by 43% (more than 2,000 apartments), transactions increased by 57%.

The presence of large corporations such as Sun Group, Vingroup, Masterise Homes… not only improves product quality but also forms modern urban areas with a synchronous commercial, educational, medical, and entertainment ecosystem.

According to Mr. Vo Hong Thang, Deputy General Director of DKRA Group, the Da Nang apartment market is out of sync with the high-end and luxury segments accounting for 78% of the total supply, while mid-range products - which serve the real housing needs of local residents - are limited.

Buyers from Hanoi and Ho Chi Minh City dominate, focusing on Class A and luxury apartments for investment. In contrast, most Da Nang residents are looking for mid-range apartments to settle down but find it difficult to access because the prices are far beyond their financial capacity.

Many central projects are currently at 80 - 100 million VND/m2; projects along the Han River developed by big brands are up to 150 - 170 million VND/ ^m2 . According to Mr. Thang, this is a price "exceeding the ceiling" compared to real housing demand.

Despite high prices, market liquidity remains positive. In the first 7 months of 2025, consumption increased by more than 50% compared to the same period. However, for sustainable development, the market needs more affordable mid-range projects. Otherwise, the risk of local surplus when luxury supply increases rapidly but real demand cannot keep up is inevitable.

Mr. Thang said that high costs of land, materials and finance make it difficult for prices to decrease. The gap between people's ability to pay and selling prices will continue to widen. In the short term, demand from investors from other provinces will still maintain liquidity; but in the medium and long term, competitive pressure will be fierce, forcing many projects to apply discounts and incentives.

According to real estate investors, the apartment market in Da Nang is growing strongly, reflecting the attraction of the dynamic coastal city. However, if there is a lack of suitable products for local people, the imbalance will become more and more obvious.

To ensure sustainable development, it is necessary for the government to intervene in regulating product structure, encouraging the mid-range and affordable segments; and closely monitoring project progress and quality. Only by balancing investor interests and real housing needs can Da Nang maintain a stable growth momentum, aiming to become the leading urban - service - resort center in the region.

Source: https://baodanang.vn/thi-truong-bat-dong-san-da-nang-tang-truong-manh-nhung-can-can-doi-cung-cau-3305311.html