Savills Vietnam's latest report, Danang Market Brief 1H 2018, reveals Danang's residential market performance across the condotel, apartment and second-home villa sectors. 

At a glance:

• In 1H 2018, the average primary price for Condotel's was USD $2,100 sqm, an increase of 19% YOY but with an absorption decrease of  -8 ppts YOY to 86%.
• For apartments, the average absorption rate was relatively high at 93% with sales nearly three times higher YOY.
• Average asking price for the apartment market was USD $1,800 sqm, up 28% YOY due to limited primary supply. 
• 45 new dwellings will come to market in 2H 2018 in the second-home villa market. 

Condotel: higher price

The total stock came from 15 projects. Ngu Hanh Son district was the largest supplier with a 57% market share.

Source: Savills Vietnam

New projects and next phases provided approximately 1,570 units to the market, most from a project by The Empire Group. 

In 1H 2018, the average primary price was USD $2,100 sqm, an increase of 19% YOY but with an absorption decrease of -8 ppts YOY to 86%.

Apartment: limited primary supply

Total apartment stock increased 19% YOY from 20 projects.

Source: Savills Vietnam

Three new projects provided 830 units to the market. Son Tra led the primary market with 68% share.

In 1H 2018, the average absorption rate was relatively high at 93% with sales nearly three times higher YOY. The average asking price was USD $1,800 sqm, up 28% YOY due to limited primary supply. 

Second-home villa: high absorption

Total villa stock was from 15 projects. Ngu Hanh Son district was the largest supplier, representing a 91% share from 12 projects. 

Source: Savills Vietnam

No new supply and stable demand resulted in market-wide absorption of 86 per cent. Developer reputation, guaranteed returns, and beach proximity were key success drivers. 

In 2H 2018, 45 dwellings will come online. 

Click here to view Savills Vietnam Danang Briefing 1H 2018.

For more information or to discuss the report, phone or email Do Thu Hang, Associate Director Research Ha Noi or Troy Griffiths Deputy Managing Director at Savills Vietnam, via the contact details listed below. 

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