This coastal city, as assessed by Dr. Nguyen Van Dinh, Vice Chairman of the Vietnam Real Estate Association and Chairman of the Vietnam Real Estate Brokerage Association (VARS), is poised to emerge as a leading tourism, financial, and investment hub in the region. It boasts all the essential elements for a breakthrough.
As the largest centrally governed city in the country post-merger with Quang Nam, what unique advantages does Da Nang possess compared to Hanoi and Ho Chi Minh City?
While Hanoi represents the North and Ho Chi Minh City the South, Da Nang stands as the “heart” of Central Vietnam. All three cities are key development focuses, but Da Nang distinguishes itself with unique characteristics, earning high domestic and international acclaim.
In terms of infrastructure, Da Nang is on par with the two major economic hubs, featuring a national and international-standard transportation network, urban development, and services. The city is increasingly beautiful and well-developed while preserving its cultural identity and human-centric values. Its friendly and professional people leave a positive impression on both visitors and investors.
Da Nang also enjoys a rare natural advantage: a harmonious blend of sea, mountains, and rivers, coupled with a mild climate, ensuring its enduring appeal. Property prices here remain significantly lower than in Hanoi and Ho Chi Minh City, with ample room for growth. Following its merger with Quang Nam, Da Nang has become the largest centrally governed city in the country, providing a strong impetus for economic development and investment attraction.
Da Nang possesses diverse resources to become a world-class city. Photo by Nhat Hoang
In summary, Da Nang is fully equipped to realize its potential as a major, eco-friendly, smart, and sustainable city with a unique identity, on par with international standards by 2050, as outlined in the approved master plan by the Prime Minister.
Investors often refer to Da Nang as a “city worth visiting, living in, and investing in.” What factors, in your opinion, make Da Nang deserving of these three accolades in the eyes of investors? And on a scale, how would you rate its worthiness in terms of visiting, living, and investing?
When evaluating an investment environment, four key criteria are typically considered: transparency, safety, sustainability, and efficiency. Da Nang excels in all these areas. The city’s administration is transparent in its planning, fostering a stable and secure environment for investors.
Da Nang is positioned to become a free trade and financial center, one of the two international financial hubs alongside Ho Chi Minh City. This opens up favorable mechanisms to attract foreign currency, businesses, and top talent. Many leading domestic and international corporations have already chosen, are choosing, and will continue to choose Da Nang, solidifying its status as a preferred destination.
Another notable aspect is the development of the night economy, which, if executed effectively, will serve as a powerful catalyst. The night economy here should be defined as a fully operational urban nighttime activity, not merely limited to night markets or entertainment zones. It requires a well-structured model with planning, infrastructure, specialized policies, human resources, and clear governance and state management. This will significantly enhance the value of real estate around night economy zones, driving urban development.
Overall, the effectiveness and sustainability of Da Nang’s real estate market are very high, given its solid development history, growth potential, and depth. Therefore, Da Nang rightfully earns the highest ratings for being “worth visiting, living in, and investing in.”
How will the night economy, if developed properly, impact the value of Da Nang’s real estate?
The night economy is a benchmark of a modern city’s sophistication. In cities like Singapore or Hong Kong, high-end entertainment, commercial, and service complexes are developed across various experiential layers, including casinos and nightclubs, to attract global elites. Three factors draw them in: natural scenery, relaxation spaces, and high-quality amenities.
Da Nang has all the “ingredients” to replicate this: stunning landscapes, a pleasant climate, a safe environment, and modern infrastructure. The challenge lies in enhancing quality and appeal. To foster a vibrant night economy, Da Nang must evolve into a true nighttime urban hub, featuring clusters that cater to high-standard entertainment and services for elites, rather than just nighttime recreational areas.
Da Nang needs to become a world-class nighttime urban center with high-end clusters. Photo by Nhat Hoang
This transformation will attract both high-skilled workers and high-spending customers to live and enjoy services in Da Nang. Consequently, the demand and value of real estate catering to short- and long-term stays, such as luxury accommodations or high-end apartments, will significantly increase.
As you mentioned, for Da Nang to truly become a nighttime urban center, it requires high-end service clusters and luxury accommodations. Recently, the Da Nang Downtown super project, with a total investment of nearly 80 trillion VND, has commenced, expected to provide a strong impetus for Da Nang. How do you assess the ripple effect and impact of such projects on the city’s tourism and investment activities?
Da Nang Downtown is a timely and ambitious project, perfectly positioned to capitalize on the upcoming dynamic development phase of this coastal city.
The project offers numerous advantages: located in a developing urban area, close to the river and sea, with surrounding high-quality infrastructure. We believe that in the near future, upon completion, the Commercial and Entertainment Complex (Da Nang Downtown) will not only attract elites but also serve as a catalyst for the entire market, driving growth in adjacent areas and positively influencing the city’s economic activities.
From a tourism perspective, a city with diverse shopping, entertainment, beautiful landscapes, and quality services is more likely to become a top choice for tourists. As visitor numbers increase and repeat visits become common, the value of tourism and commerce will rise, naturally boosting real estate prices in the area.
Da Nang Downtown will be an all-in-one complex with a well-developed night economy. Rendering by Sun Group
As a city blessed with rivers, mountains, and sea, and abundant resources compared to many other developed cities globally, Da Nang, despite starting later, can rapidly advance and surpass many established cities by pursuing a quality-focused, well-planned investment strategy.
Therefore, we are confident that with landmark projects like Da Nang Downtown, Da Nang will not only be a “livable city” but also emerge as a leading tourism, financial, and investment hub in the region in the near future.
Do you think now is the “golden time” to invest in Da Nang’s real estate?
I believe this is an opportune moment. Da Nang’s property prices are still more “affordable” than Hanoi or Ho Chi Minh City, while offering superior product quality and living environments.
High-end apartment prices currently average below 200 million VND per square meter, significantly lower than the two major cities. However, Da Nang stands out with its pristine environment, beautiful natural surroundings—rivers, sea, forests, and mountains—providing a premium, green, and healthy living experience favored by elites and high-income earners. Thus, at this price point, Da Nang’s real estate market is highly attractive, with substantial growth potential and asset value appreciation.
Additionally, Da Nang’s appeal to high-quality labor is growing stronger. As competition intensifies, early investors will secure prime locations with excellent quality at reasonable prices. Latecomers, however, will face higher prices and fewer desirable options.
Therefore, this is indeed the “golden time” for investors to enter the market, seize opportunities, and gain a competitive edge.
Thank you!
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