According to the Vietnam National Authority of Tourism, the country welcomed approximately 9.98 million international visitors in the first seven months of 2024, marking a 51% increase compared to the same period in 2023 and a 1.9% rise over the pre-pandemic levels of 2019. Major international markets include South Korea, China, Taiwan, the United States, Japan, Australia, India, Cambodia, and Malaysia.

Domestic tourism also witnessed significant growth, with an estimated 79.5 million domestic trips recorded in the same period. Total tourism revenue is projected to reach approximately VND 513.3 trillion.

In this context of a strong tourism rebound, experts note favorable conditions for the resort real estate sector in terms of supply, demand, and pricing, fostering optimism for a market upturn in the near future.

Ms. Phạm Thị Miền, Deputy Head of the Market Research and Investment Promotion Advisory Department at the Vietnam Association of Realtors (VARS), stated: “The primary driver for resort real estate in 2024 stems from the recovery and growth opportunities within the tourism industry. Policies such as visa relaxations, a 2% VAT reduction on goods and services, and various promotional programs and tourism exhibitions are contributing positively.”

She further highlighted that beachfront condominiums are poised to be a focal point in the segment, catering to both ownership desires and rental income generation.

Mr. Đinh Minh Tuấn, Business Director at Batdongsan.com.vn, observed that the resort real estate market is anticipating new opportunities. Macroeconomic indicators in tourism and retail have shown positive signs of recovery in early 2024, positively influencing the resort real estate sector.

According to Mr. Tuan, interest in resort real estate types has gradually improved in Q2/2024. Compared to Q1/2024, interest in condotels increased from approximately 5 points to over 20 points; beachfront townhouses rose from 60 to 100 points; and beachfront villas climbed from around 80 points at the end of 2023 to 100 points in Q2/2024. This indicates a renewed investor interest in the market.

Recent market observations reveal a resurgence in resort real estate activity, with new project launches. Sun Group recently introduced the Sun Symphony Residence complex in Da Nang. In Thanh Hoa, the market welcomed a new supply with The Pathway, part of the Sun Grand Boulevard project, located at Sam Son Beach Square.

In Quang Ninh, the resort real estate sector is receiving new offerings from the Crystal Holidays Harbour Van Don complex, situated along Bai Tu Long Bay and developed by Everland Van Don Joint Stock Company. Notably, in addition to 102 amenities, the project has introduced AI robots to guide visitors.

According to the developer, the deployment of AI robots in the model apartments is an initial trial that has garnered positive customer feedback. The company plans to continue researching, refining, and broadly applying AI robots as the project becomes operational, aligning with the trend of integrating smart technology in developing green, sustainable tourism that is environmentally friendly and reduces human labor.

Regarding the future development of resort real estate, Mr. Hoàng Hải, Director of the Housing and Real Estate Market Management Department at the Ministry of Construction, noted that with the Real Estate Business Law of 2023 coming into effect, the supply of resort real estate products is expected to improve by approximately 20% compared to 2023. In the near future, resort real estate holds significant potential as market participants return, driven by the positive impacts of the new laws.

- Source: CafeF -