With new supply, the land plot segment dropped sharply
WOMENmany fluctuations in supply and amount of consumption in the year 2022
According to “Danang Residential Real Estate Market Report 2022” that DKRA Real Estate Services Group (DKRA Group) has just announced, in 2022, in Da Nang and its vicinity, the market Primary real estate recorded many fluctuations in both supply and consumption in most key segments.
The primary price level maintains an upward momentum compared to the same period in 2021, while the secondary price maintains liquidity at an average level. In the type real estate resort, the market tends to shift from profit sharing to revenue sharing. At the same time, projects operated by international brands are still the first choice of customers. Entering 2023, the supply is forecasted to decrease in most segments, the overall demand of the market is at the same level as in 2022.
Specifically, the land plot segment in 2022 will receive 22 projects with a supply of about 2,648 plots, an increase of 59% compared to 2021. Consumption volume reached about 1,499 plots, approximately 57% of the total new supply, an increase. about 32% over the previous year.
Projects are concentrated mainly in Ngu Hanh Son and Dien Ban districts, accounting for about 50% of the total new supply in the whole market. Most of the new supply and consumption were recorded in the first 9 months of 2022. The overall market demand did not have a breakthrough compared to 2021 and tends to decrease sharply in the second half of 2022 due to general difficulties. of the market.
At the same time, the liquidity in the secondary market also decreased, on average, the secondary price level decreased by about 4% – 10% compared to 2021, locally for customers who are under pressure of bank loan interest rates. decrease recorded up to 21%.
The apartment segment recorded 9 projects for sale (about 658 units) in the past year, down 28% compared to 2021. Sales reached about 370 units, equal to 56% of new supply and down 37% over the same period last year. last year. The open supply is distributed mainly in Da Nang (concentrated in Ngu Hanh Son and Lien Chieu districts), Thua Thien Hue and Quang Nam supply shortage continues.
Grade A and Grade C are the two main segments leading the market, accounting for 32% and 51% of new supply, respectively. Particularly, the luxury apartment segment has established a new price level of up to 145 million VND/m2, recorded in projects located along the banks of the Han River in the center of Da Nang. The primary selling price level did not change much while the secondary market recorded a decrease of 5% – 7% compared to the end of 2021.
The new supply of townhouses/villas in Da Nang and surrounding areas recorded an increase compared to 2021. In 2022, the market will receive 1,269 townhouses/villas from 10 projects, up 22% compared to the previous year. last year. However, it only focuses on a few large-scale projects in the region and is mainly distributed in the first 6 months of the year. The consumption rate reached 69%, equivalent to 877 units, an increase of 27% compared to 2021. Although market demand increased compared to the previous year, it was still quite low and concentrated mainly on large projects. Developed by reputable investors, branded in the market.
The primary price level continued to maintain an upward momentum, ranging from 18% to 20% over the same period due to high input costs, inflation and interest rates. In the secondary market, liquidity is low and there are almost no transactions.
Resort real estate, except for resort villas, other segments recorded an increase in supply compared to the same period in 2021, but still quite modest compared to the period of 2019. Specifically :
In the resort villa segment, the market recorded 103 new supply units, coming from 3 projects in 2022, down 47% compared to last year. Consumption rate reached 42% (equivalent to 43 units), down 26% compared to 2021. Most of the supply came from inventory of old projects opened for sale in previous years.
The primary price level increased by 10% – 25% over the same period. However, investors have attached policies of commitment, revenue/profit sharing, interest rate support, principal debt grace, etc. to stimulate market demand. The trend of revenue sharing is gradually replacing profit sharing. Projects applying the form of revenue sharing also gradually attract the attention of customers because of the transparency of cash flow.
The resort townhouse/shophouse segment is still quite new and has not really developed in the three central provinces. Recorded in 2022, the new supply is only about 138 units from 1 project, however, this supply has increased 2.2 times compared to 2021. Market demand is very low, transactions recorded mainly concentrated. at a project in Quang Nam, with sales reaching about 132 units, equivalent to 96% of new supply and increasing 14.6 times compared to last year. Market liquidity almost slowed down in the last months of 2022. The primary selling price level did not change much compared to the same period last year, the current asking price ranges from 7.1 to 16.3 billion VND/unit.
The condotel segment in 2022 recorded 540 condotel units for sale from 04 projects. The ratio of consumption to supply only reached 60% (324 units), market demand increased but not significantly, most of the consumption concentrated mainly in Quang Nam and Da Nang. Particularly, Thua Thien Hue continued to have no transactions. The primary price level maintained its upward momentum, the increase ranged from 20% to 25% due to the pressure of rising input costs. Projects developed by reputable, well-known investors in the market and operated by international operators are still the preferred choice of customers.
In 2023, most of the supply will decrease
According to a forecast from DKRA Group, the new supply and demand of the land plot segment in 2023 will decrease sharply compared to 2022, ranging from 1,800 to 1,900 products. Supply is concentrated mainly in Ngu Hanh Son, Cam Le, Dien Ban, and Nui Thanh districts. The general demand of the market is similar to the previous year, the consumption is concentrated in the projects with full legal status and complete infrastructure. The secondary market maintained liquidity at an average level, the selling price did not change much compared to 2022.
In the apartment segment, the new supply is forecast to be equivalent to 2022, ranging from 600 units in Da Nang and about 150 units in Hue. Quang Nam continues to be short of new supply. Grade C apartment segment maintains its leading position in the whole market, while in Da Nang, the proportion of Grade A and luxury apartments is likely to increase significantly, mainly in Hai Chau District, located along the Han River.
The primary selling price may increase slightly under the pressure of input costs, the secondary selling price is less volatile, transactions are mainly concentrated in the projects that have been handed over, located adjacent to the center. Market liquidity continues to remain at an average – low level in the primary and secondary markets and depends a lot on the general situation of the market, interest rates, and real estate credit room in 2023.
New supply and demand in the townhouse/villa segment may decrease compared to 2022, ranging from 800 to 900 units. In there, Danang about 150-200 apartments, Quang Nam about 300-400 apartments and Thua Thien Hue about 250-300 apartments. The primary selling price level is forecasted to increase over the same period last year due to rising inflation, rising interest rates, increasing cost of input materials, etc. The secondary market continues its sideways trend and may even appear. many phenomena of price decrease before the pressure of interest rate increase.
With resort real estate, the supply of resort villa segment continues to be scarce, recording about 100 – 150 units. The resort townhouse/shophouse segment is forecast to have about 150-200 units supplied to the market. Meanwhile, the supply of condotels may decrease compared to 2022, ranging from 300-400 units. The overall market demand is at the same level as in 2022. The primary price level continues the uptrend. Revenue sharing program is widely applied in the market. Projects developed by large investors and operated by 4* – 5* international units continue to receive a lot of attention from customers.
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