CBRE Vietnam expert to talk about the investment potential in Ha Long

Ha Long resort market is attracting huge investment capital on large projects by major investors. So, in your opinion, what have been the factors leading to this special appeal since 2016?

For ages, Ha Long has always been a leading resort real estate market in Northern provinces. Over the last two years, this market has made a great leap forward to become prominent thanks to the following favorable factors:

The first thing to mention is the speed of infrastructure improvement, which precedes a boom in real estate market. Recently, Ha Long has launched and successfully completed numerous major projects, including Ha Noi – Hai Phong – Ha Long – Mong Cai expressway. The operation of this project would draw a huge influx of tourists to Ha Long, promote local tourism and enhance trade links.

Bach Dang bridge connecting Ha Long and Hai Phong, still under construction, is also an important transport link, which benefit both cities, especially Ha Long. Additionally, major projects like Van Don International Airport is expected to benefit local tourism and embrace development potential.

Along with developed transport infrastructure, world-class amusement parks provide tourists another reason to stay for a few more days, which benefits the local economy, and especially Ha Long resort real estate market.

It is said that Ha Long is following Da Nang and Phu Quoc to attract major investors and become another appealing real estate market. What do you think about this statement?

In terms of resort real estate, Phu Quoc, Da Nang and Ha Long are all leading markets in Southern, Central and Northern regions of Vietnam respectively.

The plus of Ha Long real estate market is less fierce competitiveness. Besides, the price of resort property in Ha Long and northern Vietnam is quite reasonable. If investors take full advantage of the current market and find themselves suitable projects, the growth potential could be enormous.

Recently, the thriving tourism industry in Ha Long, Quang Ninh has stimulated the local economy. In your opinion, what positive effects does the presence of high-end resorts, recreational complexes and theme parks like Sun World Halong Complex, Dragon Park,… have on the property market?

In fact, there are numerous famous resort – recreational complexes in the world, such as Las Vegas, Macau and Hong Kong. I think this trend may give real estate investors many chances to increase the product values and their profits.

However, these complexes are not common in Vietnam, so investing in this area may exploit the enormous potential of the local market.

From the perspective of an expert, what elements does a resort property project need to become worthwhile in Ha Long these days?

First of all, investors will compare the potential profit of that project with the market, then evaluate the sale price and rental price.

In terms of the sale price, in Ha Long, it is generally not too high compared to other markets. In terms of rental price, although it is not as high as in Southern market, investors often offer attractive profit-sharing policies.

However, investors should be alert and choose a credible project. Important aspects should be put into consideration include: position, quality, investor confidence and brand.

Ha Long resort real estate market is developing in leaps and bounds. In your opinion, what competitive advantages can a pioneer gain?

They will certainly get the competitive edge in the market and have a right to choose profitable projects situated at favorable positions. Ha Long is a potential market, and chances only come the way of clever investors.