Weekly Vietnam Property News (30 May – 4 June, 2020)
Investors return to the resort real estate “race track”
Given the potential of the resort real estate market, long-term investors continue to pour money into this segment. Looking at new projects, you can see potential investors and have their own directions to follow the market trend to catch up.
- Three new trends for investors:
Diversify the market to continue to maintain growth, taking into consideration potential tourist destinations that are not yet developed such as Nam Hoi An, Binh Thuan, Ba Ria-Vung Tau, as well as diversifying types product images and professionalization of operational management.
- Actively in developing new tourism real estate products. The most prominent is the coastal shophouse / shopvilla in Phu Quoc and Ha Long markets.
- Type of wellness resort (wellness resort). This is a new type and has a lot of potential for development in Vietnam, as the middle-class population in Vietnam is expected to grow fastest in Southeast Asia in the next five years, and tourists from other North Asian countries are increasingly favoring products with a combination of tourism and health rehabilitation.
Potential of resort real estate in a special economic zone in the future after Covid-19
The impact of the Covid-19 epidemic has pushed the resort real estate market to “freeze” in the short term. At the time, the given scenarios were all gray when Covid-19 was spreading at a dizzying rate worldwide. Social isolation policy continues to make the index on the resort real estate market more gloomy.
However, in May, with the end of the social gap period, the resort real estate quickly regained its growth momentum. A series of stimulus policies from the tourism industry has been launched such as cheap travel packages, building safe destinations. A series of positive activities has brought about the excitement of the resort real estate soon.
From the perspective of tourism growth, if the expectations of the growth are forecasted at the end of 2019, experts think that it will be difficult to achieve. However, if you look at the number of more than 18 million domestic tourists in 2019, the belief that the number of domestic tourists will leverage the supply of resort real estate is entirely possible.
The operation of the resort real estate market in Vietnam in the open period after the period of social separation has shown positive signs of the recovery process, along with the possibility of rapid recovery of the tourism industry. , tourism real estate will be a field that can recover quickly. Recent efforts and ways of Vietnam against the epidemic have “scored” greatly in the eyes of the international community. With good epidemic control, Vietnam is expected to become a tourist attraction in the world in the near future.
“Lighting” tourism real estate by “lighthouse” night economy
The night economy has brought great economic value to many countries around the world. In Vietnam, the night economy is still open while this industry can help diversify tourism products and increase the value of resort real estate.
Night economics are not unfamiliar in many countries. As a whole, this is an economic – service activity that takes place between the hours of 18:00 and 6am. Due to the characteristics, this activity is often associated with cultural events – art, entertainment services, entertainment, food, shopping … In many countries, the night economy has made a great contribution to promoting socio-economic development, creating jobs, surplus value and attracting foreign currencies.
In Vietnam, the night economy is a new concept. Although the number of international visitors to Vietnam has increased steadily every year, tourism revenue and spending of visitors are still low compared to other countries in the region. According to the Vietnam Tourism Advisory Council (TAB), the average visitor to Vietnam is 96 USD / day, while Thailand is 163 USD / day and Singapore is 325 USD / day. Partly because, the exploitation of night services such as entertainment, entertainment, eating and drinking in the tourist cities of Vietnam is still small, lacking in identity, even though many places consider the night economy to be just a business. food service provider.
Vietnam has many advantages for night-time economic development, such as a young population who prefer to live concentrated in cities, in addition to unique cultural – artistic and culinary factors, degree of integration and globalization. high. It is time for Vietnam to change its perspective and management to promote the advantages of night economic development.
It can be affirmed that if a beautiful land attracts tourists, the night economy is the product that helps retain visitors and maximize profits for the tourism industry. If the night economy is well implemented, it is also potential to increase the value of real estate.
Compiled from many sources by LOOKOFFICE
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