DKRA Group’s real estate market report for Da Nang and neighboring areas in the first quarter of 2024 indicates, general demand for the land market saw positive signals. The amount of transactions increased by around 30% compared to the end of the year. The majority of transactions are concentrated in Ngu Hanh Son District (Da Nang) and Nui Thanh District (Quang Nam).
In terms of primary supply, land prices decreased slightly by 7% compared to the previous quarter. Projects are concentrated in Da Nang and Quang Nam. Thua Thien Hue area maintains a state of scarcity of supply to the market.
Primary price levels did not fluctuate much compared to the previous opening. Customer-friendly policies such as: preferential interest rates, principal grace periods, loyal customers, etc. are widely applied to stimulate market demand.
Notably, the secondary market recorded a slight increase of 2% – 3% compared to the end of 2023, liquidity had many positive changes after the Lunar New Year holiday. Products with complete legal documents, completed infrastructure, etc., attract the attention of customers. In addition, “big” investors with cash in hand have taken the initiative to buy after a period of observation.
In the following quarter, the land market in Da Nang and neighboring areas is expected to increase slightly compared to the previous quarter, ranging from 120 – 150. The supply is mainly concentrated in previously opened projects, the two areas of Da Nang and Quang Nam maintain the main supply – demand position in the market.
According to DKRA Group, market demand is still modest, projects developed by reputable investors with strong financial potential, completed infrastructure/legal projects, etc., attract attention. of investors.
The primary price level continues the sideways trend compared to the previous opening, and market stimulus policies continue to be applied by investors to increase liquidity.
The apartment market in Da Nang and neighboring areas also showed signs of positive demand in the first quarter of 2024. There are 14 projects currently being sold with a primary supply of about 1,334 units, an increase of 33% compared to the same period in 2023. The projects are all concentrated in the Da Nang market, while Quang Nam and Thua Thien Hue continue to face a shortage of new supply. The absorption rate is estimated to reach about 8% of the primary supply, equivalent to 106 units, 2.4 times higher than the same period last year. The transaction volume is concentrated in the product segment with prices ranging from 50 – 65 million VND/m 2 .
In this segment, the new supply in the second quarter of 2024 is expected to have more positive changes through some large projects that are in the process of communicating for sale. The Grade A apartment segment continues to account for a large proportion of the new supply to the market, concentrated in Ngu Hanh Son District and Son Tra District (Da Nang). The primary selling price level may increase slightly due to input cost pressure.
