Understand The Real Estate Market

Therefore, customers need to carefully review the penalty terms when the investor delivers the house late. Payment terms according to construction progress will help customers avoid the situation that the money has been given but the porridge has not been seen. Materials, interior equipment in the apartment need to be specified to avoid the investor changing unlike the model house to reduce costs. Customers need to carefully read the terms of the difference between the actual apartment area and the contract, how to determine the apartment area to avoid complaints later. 

Resort real estate has been blocked 

The tourism industry in the first 3 months of the year was also in trouble after a year of facing the impacts of Covid-19. At the end of the first quarter, revenue from tourism decreased by 60% year-on-year, with more than 80% of the remaining tourism businesses still closed, according to the Ho Chi Minh City Department of Tourism.
Many hotel chains have cut back on room availability and services to reduce costs and focus demand on key locations. Difficulties in the first quarter of the year added to challenges for this business, pushing hotel tourism

The business activities of the resorts also suffered the same impact when recording more than 50%, some resorts even up to nearly 80% of the number of bookings that were canceled, mainly from groups of tourists and corporate guests. . Some hotels have even decided to temporarily close until the epidemic situation is stabilized. During this outbreak, some hotels have announced that guests need to present a certificate of negative for Covid-19 to be able to use the service. This is unprecedented in order to ensure the safety factor as well.

Presort real estate to make a rapid

International flights are expected to gradually open to many Asian countries and the US in January 2022 with a recognized vaccine passport, which also promises to open up the source of international visitors for the resort tourism market. Some tourist capitals have begun to welcome international visitors again, but the efficiency has not been high due to health control barriers.
These advances are said to be necessary but not sufficient conditions for resort real estate to make a rapid breakthrough next year. In the last months of 2021, condotels still have zero liquidity, townhouses, beach villas, and beach shophouses recorded only modest transactions.
Dr. Su Ngoc Khuong, Senior Director of Savills Vietnam, predicts that the Government is currently on a roadmap to open international flights from January 2022, which will stimulate international tourism in the near future to the extent that it helps the real estate industry. Resort real estate is less difficult than in 2021, but it is difficult to break through quickly.
Mr.K analyzed that, currently, the hardware of resort real estate, which are tourist products in the Vietnamese market, is still monotonous and not diverse enough to attract tourists back. Meanwhile, the software of the resort real estate market including accompanying services, which is the trump card for success, is still quite thin.

The extent that it helps the real estate industry..

The of the resort tourism market is the chain of services, the ecosystem of accompanying entertainment activities to promote the creation of added value for this industry in VN. with visitors checking in for the second and third time. The rate of tourists returning to Vietnam is a measure of the resort real estate market should look forward to in the future to make a stronger breakthrough. In addition, according to Mr. K, the digital transformation for this industry also needs to be promoted to adapt.
The current value of Vietnam’s tourism real estate lies in the natural advantages that give it a long and beautiful coastline, but over the years, only condotels, resorts, and hotels have been developed, which have not created significant added value. tell.

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