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Luxury apartments are stirring up the Da Nang market
Since the end of the first quarter, the Da Nang real estate market has started to heat up. A series of projects that were shelved for many years have been restarted. Business and promotional activities have been activated. Customers and investors have returned to survey and seek new opportunities… With this recovery, by the end of the second quarter, observers assessed that the market had entered a new cycle. Trends and new demands have also become more apparent.
The Filmore Da Nang apartments – one of the most anticipated projects today.
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After strong socio-economic fluctuations, the most noticeable change in the Da Nang real estate market is the overwhelming interest in apartments. The need for urban life development and land fund scarcity are considered the main reasons for this shift.
In a recent interview, Mr. Tran Van Binh, Vice President and General Secretary of the Vietnam Real Estate Brokers Association (VARS), predicted: “In the coming months, the Da Nang real estate market is expected to continue to witness positive changes, especially in the apartment segment. This segment is likely to lead the market recovery, especially as the demand for modern and convenient housing increases in the community. The development of apartment projects not only offers notable living choices for residents but also facilitates investors and real estate developers.”
Following this trend, the luxury apartment segment has received special attention from domestic and international investors. Da Nang has always been regarded as a highly potential market for real estate investment. As entrepreneurs, experts, creatives, and startups flock to Da Nang, along with the strong development of tourism, the demand for luxury apartments will correspondingly increase. Thus, this segment has witnessed the fastest and most robust movement in the past period. The average selling price ranges from 80 to 120 million VND per square meter. For projects with more outstanding competitive advantages, the price can go up to 150 million VND per square meter.
Which product has the most attractive profit potential?
Compared to land, the price of luxury apartments is considered quite high, especially for projects in prime locations. However, according to many experts, this is an inevitable trend, and the growth potential will be even higher. Da Nang needs this type of product. International-standard luxurious apartments that meet the lifestyle of residents and provide opportunities for investors are essential to promoting the city’s development speed and quality.
Ideal view from an apartment in The Filmore Da Nang project.
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With such trends and potential, it is understandable that luxury apartments are among the segments attracting the strongest investment flows in the past time. According to many experienced investors and real estate brokers, apartment projects offer the most attractive profit potential when they meet critical criteria: a central urban location, beautiful terrain, high construction and finishing standards, modern utilities, a high-quality living environment, complete legal status, and financially capable investors – project developers to ensure sustainable value assurance for the project…
These criteria and demands strongly favor apartment projects along the Han River. Following the urban development trend, the lifestyle of the local upper-class residents, and the wave of new residents from both domestic and international sources flocking to Da Nang, luxury apartments along the Han River are a rare commodity. Demanded by customers, these apartments offer attractive profit potential in the short and long term.
Luxury apartments must be accompanied by modern amenities to meet the optimal lifestyle of the upper-class residents. Photo taken from The Filmore Da Nang project.
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Among the apartment projects along the Han River, The Filmore Da Nang (invested and developed by Filmore Development) stands out as it nears completion ahead of schedule. This project has been completed and handed over to residents.
As a completed project, The Filmore Da Nang meets the criteria of being ready for immediate use or rental to generate early cash flow. Along with the advantage of immediate profitability is the opportunity for sustainable long-term value appreciation.
The Filmore Da Nang possesses all the advantages that residents and investors seek, as mentioned above. The project has a limited number of units, with only 206 apartments. The international standards and appeal of The Filmore Da Nang have been proven by many experienced foreign customers and investors. The project currently has residents from Hong Kong, Japan, the United States, and more.
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2023 is being hailed as the most challenging year for the real estate industry in over a decade. Businesses are navigating through stormy waters, like a ship tossed amidst a raging sea. Despite being battered and thrown off course, they remain resilient, forging ahead and eagerly awaiting the dawn after the stormy night.
Which real estate segment should you invest in to make money in the new year?
According to experienced real estate professionals, if you have the funds available, 2024 is a good time to invest. By 2025, the real estate market will explode.
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