In early 2016, a lot of real estate projects with thousands of luxury apartments have been put on sale.
In early 2016, a lot of real estate projects with thousands of luxury apartments have been put on sale.
Luxury apartments flourishing
Condotel (Condo Hotel) has appeared in Nha Trang for a long time. There have been a lot of condotel buildings in Nha Trang now like Havana, The Costa Nha Trang, Muong Thanh Nha Trang Centre, Champa Oasis, etc.. Such apartments cost over VND2 billion each. This kind of apartments is still in great demand.
Recently, Ariyana, a new condotel project with nearly 400 apartments at 18 Tran Phu Street, Nha Trang has put on sale. The building comprises 28 floors and a basement. From the ground floor to the 5th floor are commercial center, swimming pool, spa, gym room, coffee shop. From the 6th to the 28th are apartments with areas from 41 sq.m to 149 sq.m.. All the apartments are made inferior at the 4-star standard by the investor. The apartments’ prices are VND26 – 28 million/sq.m. Up to now, its foundation has been finished. The apartments are expected to be handed over to buyers in the first quarter of 2018.
On the seaside street Pham Van Dong, Vinh Hoa Ward, Marina Hotel Joint Stock Company has started construction of Royal Marina project. The 34-floor building will launch nearly 1,000 luxury apartments overlooking the international marina. The apartments are from 32 sq.m to 130 sq.m in area with 1 – 3 bedrooms. They are designed in French and equipped with 5-star inferior. Prices are from VND45 million – VND56 million/sq.m.. The project is expected to be finished in early 2018.
Vingroup is the investor of Vinpearl Empire Condotel, a 41-floor building with 35 floors for apartments, 5 floors for Vincom mall, one floor for swimming pools and two basements. The project has 924 luxury apartments, costing VND2-7 billion.
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| Luxury apartments in Nha Trang given more care by investors. |
New trend
Phuong Thuy, an overseas Vietnamese, along with her French spouse, flied from France to the country to see an apartment. She said, “The apartment’s location and design are very good. My husband like its view very much, so we will buy one to stay on our trips to Vietnam.”
According to Pham Xuan Huy, Deputy director of Vinagroups (Hanoi), luxury apartments in Nha Trang has the advantage of beautiful views. Moreover, their prices are rather lower than those in Hanoi. “I have surveyed in many localities and recognized the outstanding advantages of apartments in Nha Trang”, Huy shared.
Statistics of CBRE, one of the leading commercial real estate services in Vietnam, showed that before 2014, apartments costing under VND1.3 billion were the most in transactions. However, from early 2015 up to now, apartments from VND1.3 – 5 billion made up about 75% of the total transactions. This proves that buyers are seeking more luxury apartments.
In 2015, the real estate market in Nha Trang saw the success of the market of luxury apartments. Investment in luxury apartments is expected to rise in Nha Trang in 2016. As a result, VinGroup is stepping up such projects in Nha Trang, “From the point of safe and profitable investment in 2016, Royal Marina and Ariyana will surely make a big wave in the real estate market in Nha Trang. Each project has its own advantages, satisfying expectations of buyers”, said Vo Minh Khoa, director of Nha Trang Real Exchange.
Van Ky
Translated by T.T
