The primary and new land supply in Q2 witnessed significant improvements, with a 27% and 7.3-fold increase, respectively, compared to the previous quarter. Quang Nam continued to lead in primary supply and consumption in the region, accounting for 80% and 86%, respectively. Da Nang followed closely behind.
Despite the high supply, demand did not increase proportionally. The demand in the Da Nang market and its vicinity remained low, with consumption equivalent to only 8% of the total primary supply, a decrease of about 41% compared to Q1/2024.
The primary land price in Da Nang reached a high of VND 126.4 million/sq.m and a low of VND 33.2 million/sq.m. In contrast, Quang Nam’s prices ranged from nearly VND 30 million/sq.m (highest) to VND 10.6 million/sq.m (lowest). Market transactions mainly occurred in the group of products with completed infrastructure and legal status, developed by reputable investors in the market.
Compared to the beginning of the year, the primary land price remained stable. Developers continued to offer discounts, incentives, and bank support to improve liquidity.
Big 4 Real Estate Giant Selling Prime Land Lots in Beautiful Da Nang City on the Eve of Tet Holiday
A series of prime real estate properties situated on major roads in the cities of Danang and Quang Nam are being auctioned off by Agribank to recover outstanding debts. These land plots are owned by real estate tycoons.