Since the beginning of 2024, the Da Nang real estate market has changed positively with many projects starting and resuming operations, the total number of real estate transactions increased compared to the same period last year, especially in the second quarter. The city is continuing to remove difficulties and obstacles to promote the real estate market.
 |
| In the first 6 months of 2024, Da Nang real estate market showed signs of improvement. Photo: HOANG HIEP |
High volume of transactions
According to the report of the Department of Construction on the housing situation and real estate market in Da Nang in the second quarter of 2024, the City People's Committee has carried out the tasks assigned by the Government on a number of solutions to remove and promote the real estate market to develop safely, healthily and sustainably; focusing on reviewing and removing difficulties and obstacles with businesses and people in implementing real estate projects in the area. Thanks to that, in the first 6 months of 2024, the Da Nang real estate market has shown signs of improvement with many projects having started construction and resumed operations.
Accordingly, the Department of Construction has granted construction permits for many new commercial housing projects such as Capital Square 2 Urban Area project, Han River Tourist Service Area, Apartment Complex on HH3 land in the mixed-use land east of Tran Hung Dao Street, Olalani Riverside Tower Resort and Luxury Apartment, MIA Plaza Apartment Complex... In the second quarter of 2024, a total of 3,618 apartments and individual houses were traded, an increase of 71% compared to the first quarter of 2024 and an increase of 62.6% compared to the same period in 2023. The Department of Construction has approved 10 applications eligible to rent social housing and 316 applications eligible to buy social housing, contributing to solving the housing needs of beneficiaries of social housing policies as prescribed in this quarter.
However, according to the report on the residential real estate market in Da Nang and its vicinity in the second quarter of 2024 announced by DKRA Consulting (a brand of research and development consulting services of DKRA Group Joint Stock Company) on July 18, most of the supply of residential real estate in the Da Nang market and its vicinity comes from inventory of old projects, the market has not recorded any active "launch" of new projects. Except for the apartment segment, the overall demand for the remaining segments has not shown any signs of a strong breakthrough. Specifically, in the land segment, the overall demand in the whole market remains low, transactions mainly arise in the group of products with completed infrastructure and legal documents, implemented by reputable investors in the market. The apartment segment recorded a 2.5-fold increase in primary supply compared to the same period last year with 16 projects launching sales, supplying the market with about 2,484 apartments (new supply for sale is concentrated in Son Tra district) and the primary consumption rate recorded a more positive signal, reaching 52% of the total primary supply (equivalent to more than 1,300 apartments)...
 |
| Da Nang's real estate market has changed positively with many projects starting construction and resuming operations. IN PHOTO: A housing construction project in the city is being completed. Photo: HOANG HIEP |
Increase supply and demand
According to forecasts from DKRA Consulting, in the third quarter of 2024, the new supply of land plots in Da Nang city and surrounding areas will increase slightly compared to the second quarter, mainly concentrated in Quang Nam and Da Nang. Demand in the land plot segment is expected to increase slightly at the end of the year, with the primary price level not fluctuating much. In the apartment segment, the new supply in the third quarter is expected to remain at the same level as the second quarter of 2024 with the primary price level not fluctuating much or possibly slightly increasing due to input cost pressure...
Investment Director of DKRA Joint Stock Company Vo Hong Thang said that, in general, the real estate market in the past 3 months has not recovered evenly in all segments. However, the market still receives many positive attractions from policies, laws, traffic infrastructure, etc. In the third quarter, the residential real estate market in Da Nang and its vicinity will have clearer recovery prospects, depending on each segment. The Land Law, Housing Law, Real Estate Business Law, and Credit Institutions Law coming into effect from August 1, 2024 will remove many difficulties and obstacles for projects and land and are expected to bring many positive changes to the real estate market in the coming time.
According to the Department of Construction, the unit always monitors and reminds investors to implement project progress according to plan; recommends organizations and individuals participating in real estate transactions to carefully study the legal status of the project. In addition to granting new construction permits, the department has appraised the investment feasibility study reports for many real estate projects. With the city completing the approval of urban zoning plans, many real estate projects will continue to be appraised and granted construction permits, supplementing supply as well as promoting the real estate market.
Director of the Department of Construction Phung Phu Phong said that real estate projects, commercial housing, social housing in the area have been included in the city's general planning and specified in zoning plans, urban development programs, housing development programs, housing development plans, etc. This is an important basis for the city to deploy or call for investment, requiring investors to implement housing projects according to planning, programs, and plans. The city is continuing to review, remove difficulties, obstacles or propose to remove difficulties, obstacles for projects and land plots, contributing to promoting the real estate market.
HOANG HIEP
Source: http://baodanang.vn/kinhte/202407/thi-truong-bat-dong-san-chuyen-bien-tich-cuc-3978383/
Comment (0)