Yields of 4-6 per cent are the right expectations for a sustainable rental return, given that the buyer still enjoys free usage and a potential chance for capital gain in the mid- to long-term, says Savills Hotels APAC.
The rapid growth of Airbnb and condotels is posing significant challenges to traditional hotel business in Vietnam.
New types of real estate products including condotel and officetel to be included in a draft legal circular, impactful trends of real estate market, sustainable economic indices to bring in investors' confidence are synergy and inspiring highlights at the conference on new era of real estate growth: From volume to value organized by TheLEADER in Ho Chi Minh City today.
In the first half of this year, the average primary price of condotel in Danang increased by 19 per cent to reach $2,100 per square meter, according to Savills.
Some localities are temporarily halting condotel projects to await the government's clear policies and we will submit the clear legal basis in this matter to the government to support investors, according to deputy head of Real Estate Market and Housing Management Agency Nguyen Manh Khoi.
General Manager of Novotel Phu Quoc Resort Lee Pearce said that there are several pitfalls and advantages when investing in condotel.
Proposal of concerned ministries to amend the four laws, including the Law on Real Estate Business, Land Law, Housing Law and Construction Law to legalize condotel was not considered by the National Assembly this time.
The new concept of Luxury, creating and embracing additional values is considered as identity to make the local hospitality sector more attractive and adapted to ever-changeable demands.
Chief operating officer of the property developer Indochina Capital shows his concerns when investors are providing too many attractive offers to condotel buyers in Vietnam.
Just building large rooms or lobbies no longer delivers a sustainable competitive advantage and guest satisfaction for condotel projects, according to the leading real estate consultancy firm Savills Vietnam.
JLL Vietnam's Le Thi Huyen Trang said that in case condotel projects canot be sold due to legal risks and profit commitments, it will return to the original nature of hotels.
Vinpearl Discovery Nha Trang Empire Condotel opened on March 26 is Vingroup’s 18th hotel in the chain of Vinpearl-branded hotels.
Nha Trang Bay Investment Construction Joint Stock Company will present The Arena Cam Ranh - the largest condotel complex project in Vietnam this weekend.
Project of Double Tree by Hilton Hạ Long Bay Hotel & Condotel which is invested by Tri Duc Hotel Joint Stock Company was commenced on December 06, 2017.
