NEW TRENDS: “ENJOYING REAL ESTATE 2019 GROWTH

Tuesday - 19/02/2019 04:55
In recent years, Vietnam resort real estate has transformed itself from an experienced destination with few options for accommodation and entertainment into an attractive destination and the ability to attract tourists come back. Although the holiday market in 2018 has certain vacation spots, the market in 2019 is expected to have new growth steps.
Important factors contributing to the growth of the market continue to include improving infrastructure with new international routes, incentives from the government and the contribution of investors, private.

In addition, according to Mauro Gasparotti, Director of Savills Hotels Asia Pacific, Vietnam's resort real estate market next year is also driven by new global trends. One of the prominent trends is the information technology. The development of information technology will make travel easier with various accommodation options. Thanks to the help of tools and support applications, visitors can perform operations easily. Smart phones, artificial intelligence (AI), electronic payments or social networks all have a significant impact on future travel.

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Tour arrivals of 2019 will continue to grow but at a lower rate than the previous year. In terms of supply, the market will receive a wave of new projects with international brands coming into operation such as Movenpick Cam Ranh or Melia Ho Tram. These projects are expected to contribute to bringing Vietnam resorts to international tourism maps. In addition, major changes in demographic factors or consumer behavior will also contribute to boosting demand and encouraging investors to come up with new ideas and new products to catch up with trends. 

In 2019, there will also be many condotel projects with large number of rooms in operation. It is worth noting that these condotel products can significantly affect the market if not carefully planned and operated. This may lead to a decrease in room price and room capacity in the medium term, especially at coastal destinations.

Mr. Mauro Gasparotti said that in the coming year, investors need to study new trends and products that are not yet available in the Vietnamese market such as Branded residences, select-service hotel or resort with experience-focused services to diversify accommodation options and capture the needs of new generation of travelers.

However, these products also require investors to have certain knowledge about models, ideas as well as ways of cooperation between stakeholders to ensure the implementation and feasibility of the project. Green projects and a strong focus on sustainable development will become an important criterion for customers.

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