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Resort real estate: It’s difficult to expect foreign buyers

 

The supply for many offered resort property projects, such as Son Tra – Dien Ngoc; Hyatt Regency Danang Residence; Ocean Villas – Da Nang Beach Resort; Best Western Nha Trang Plaza; Mui Ne Domaine; Sanctuary Ho Tram; Evason Hideaway Con Dao, Cai Gia – Cat Ba; The Long Chau Villas & Residences; etc. Moreover, According to CBRE, 85% of resort villas and apartments found Vietnamese owners, but only 27% alien high-income earners paid attention to such form of properties. In addition, the segment had been faced halt of projects; reduction of prices (up to 15%) and deferral of payment. Besides, Mr. Mauro Gaparotti, chief of resort/hotel service of CBRE, said that Vietnam resort properties had been toward the phase of specific products for particular customers. Meanwhile, Mr. McIntosh, hotel managing director of CBRE, meant that developers should have forecast changes of consumers to offer suitable product series for the market.

 

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Source: DAU TU CHUNG KHOAN – Date: 19/09/2011