Scarce land fund in Nha Trang center
Nha Trang City (Khanh Hoa) is one of the "capitals" of resort real estate with a series of resorts, hotels, condotels... Statistics from the Department of Construction of Khanh Hoa province, in the fourth quarter of 2022, the province has 10 commercial housing projects under implementation, of which there are only 1,564 apartments. In contrast, resort tourism projects have abundant supply with 26 projects under implementation, including 12,149 tourist apartments and 2,588 tourist villas.
The reality of the scarcity of housing supply is even clearer when the Real Estate Market Report for the first quarter of 2023 of Dat Xanh Services Economic - Financial - Real Estate Research Institute (FERI) shows that in the Central provinces, including Khanh Hoa, housing supply mainly comes from existing projects, with no new projects.
In the project to adjust the general planning of Nha Trang City to 2040 submitted by the People's Committee of Khanh Hoa province to the Ministry of Construction , Nha Trang will expand by 880 hectares to the West. The city also develops and expands urban construction space to the North, Northwest, West, South and East to the sea - Vinh Luong, Phuoc Dong areas and on the islands to reduce pressure on the central area, while creating a large land fund for the province to have conditions for more comprehensive socio-economic development.
This means that new apartment projects in Nha Trang will gradually move out of the existing central area to new planned development areas. The number of apartments for living and long-term ownership in the central area, which is already scarce, will become even scarcer.
"Nha Trang's land fund is already very limited while the demand for long-term ownership apartments in the central area is constantly increasing. At this time, customers are increasingly looking for apartment projects in the center of Nha Trang that can be exploited in a variety of ways, from living to resort and business. Leading the attraction are projects with good locations and complete legal documents," said an apartment broker in the Nha Trang market.
"Bright spot" project welcomes series of positive movements
Limited supply and rare "clean" land funds in the city center make projects that meet the criteria of location, legality, utilities, etc. attract the attention of many customers. For example, the Grand Mark Nha Trang apartment project located right in the city center with legal advantages is attracting attention.
With a prime location at the intersection of Phuoc Long and Vo Thi Sau streets, Grand Mark Nha Trang can quickly connect to a series of external facilities such as: 3 minutes to the beach, Bach Dang park; next to high-quality multi-level schools; close to major hospitals as well as a series of traditional markets and shopping centers. Residents and visitors only take 30 minutes to connect to Cam Ranh International Airport as well as conveniently travel to other areas thanks to the intra-provincial and inter-provincial transportation system.
Grand Mark Nha Trang appeared in the context of the coastal city receiving a series of positive development signals, strongly attracting residents of the province and neighboring provinces to live and work.
At the end of March, Nha Trang - Khanh Hoa received a lot of good news when key strategic plans were approved one after another. These were Decision No. 298/QD-TTg approving the adjustment of the master plan for the construction of Van Phong Economic Zone, Khanh Hoa province until 2040, with a vision to 2050 and Decision No. 318/QD-TTg approving the planning of Khanh Hoa province for the period 2021-2030, with a vision to 2050.
According to the plan, Khanh Hoa province will be built and developed to become a centrally-governed city by 2030. In particular, Nha Trang is a key area in many fields and the province's international integration gateway. In early April, the conference to announce the planning and promote investment organized by the Khanh Hoa Provincial People's Committee attracted an impressive figure: 116,500 billion VND from projects of major investors.
All of these play a major role in helping Nha Trang "change its skin", transform strongly, and become a worthy destination for people to live, work and study. The estimated population of this city by 2030 is about 640,000 people, accounting for nearly half of the planned population of the entire Khanh Hoa province.
In addition, tourism in Nha Trang - Khanh Hoa has also returned to normal operations with an increasing number of tourists. In the first quarter of 2023, the total number of visitors staying in Khanh Hoa is estimated at 784,657, an increase of 184.2% over the same period. In the past month, Nha Trang has welcomed 5 cruise ships with nearly 4,000 visitors. In early April, the "capital" of tourism in the South Central Coast also welcomed the first group of Chinese tourists back.
For details, see: https://grandmarknhatrang.com.vn/
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