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3 underlying reasons of a 2018 booming condotel property

The go-ahead nods for rectified laws on land uses and special administrative regions, along with strong tourism growth, will be the main factors that drive condotel sales in 2018. In an interview with BizLIVE, Nguyen Hoai An, Head of Research and Consulting at CBRE Hanoi, said condotels have shown to be in strong favor by property investors over the years. Of the three major property markets of Danang, Nha Trang and Phu Quoc, Danang stands out the most with Cocobay – which opened its door in 2017; followed by Phu Quoc with InterContinental, Best Western Premier, and Mövenpick. Despite her positive forecasts in 2018, An warned local authorities to approach new condotel projects with caution, particularly those which could come as threats to the local environmental settings and tourism growth potential in the long run.