Nha Trang property investment is becoming popular with both the local and international crowds. It’s easy to see why. The city boasts a beautiful stretch of coastline that spans six kilometres and is regularly ranked among Southeast Asia’s best beaches. This has seen arrivals soar and all these people need a place to stay.
In many ways, Nha Trang and Pattaya are similar. They both feature long beaches that are close to the city. They are both popular with Chinese and Russian tourists as well. Finally, the two areas present real estate investors with some unique opportunities, especially when it comes to condotels.
Want to know more about Nha Trang property investment? Here are a few important things to take note of.
3 things you need to know about Nha Trang property investment
1) Luxury is king
The luxury real estate segment in Vietnam has taken off in the past few years. Developers are crafting amazing developments and resorts that are among the region’s best. In Nha Trang, Sunshine Marina Nha Trang Bay is one of the most iconic. The project’s developer, Sunshine Group, is crafting a 5-star resort that combines international-level standards with cutting-edge technology that utilises the Internet of things (IOT).
The company’s goal is to establish a new era of holiday travel in Vietnam and Sunshine Marina Nha Trang Bay will go a long way towards that. Rooms have been crafted to meet the tastes of even the most discerning guest. In terms of Nha Trang property investment, the condotel portion of the project represents a unique opportunity.
2) Look for perks
If you are interested in Nha Trang property investment, see what the developer is offering in terms of add-ons. For example, VinPearl Golf Land Resort and Villas provides buyers with a number of extras. There is a guaranteed investment return of eight percent annually for 10 years. And that isn’t the only perk. If you buy a villa at VinPearl Golf Land Resort and Villas, you can stay in the VinPearl village resorts in Da Nang and Phu Quoc Island for free.
3) Understand the market
If you’re looking for a quick flip, Nha Trang property investment isn’t the best play. There have been rumblings of oversupply forming. Demand has declined this year as a number of properties have come onto the market. There are several others in the pipeline compounding the situation. However, earnings from rentals aren’t likely to be diminished.
According to data from the Khanh Hoa Tourism Department, 4- and 5-star hotels in Nha Trang record an occupancy rate of 65-70 percent throughout the year with this spiking to 95 percent during high season. And there is still room for growth. Tourism continues to increase and the area is also hosting more events and festivals. This will see even more people head to Nha Trang each year.
The current situation benefits condotel owners and means there is room to surpass guaranteed investment returns. While selling the unit in the short term may prove difficult, the outlook for rental returns is strong. Most properties also allow owners to stay at the project for a set number of days each year, meaning your Nha Trang property investment could double as a holiday retreat.