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CBRE: need to beware of licensing new condotel projects

 According to Nguyen Hoai An, Director of Research, Consultancy and Valuation at CBRE Vietnam in Hanoi,  2017 continues to record many positive movements in Vietnam real estate market with growing economy and strong FDI attraction. Core segments like housing and commercial properties continue to witness an increase in supply and absorption. Apartment supply increases quickly, especially in mid-end segment. Another noticeable property segment in 2017 is hotels and tourism properties thanks to impressive growth rate of international tourists by 30pct, reaching nearly 13 million tourists. In 2017, condotel market continues to attract attention of investors. However, compared to 2016, the total supply of new condotels launched for sale in 2017 in Danang, Nha Trang and Phu Quoc has significantly decreased.