Groundwork laid for tourism property along the coast

The Montgomerie Links is selling second-home villas at starting price of $500,000

A variety of second home property projects have recently gone online in the country’s popular coastal tourism destinations and more developers will launch sales in two to four weeks.

Ocean Hospitality two weeks ago launched sales for its Condotel StarCity Nha Trang property. This four-star project on Tran Phu street along the longest beach in the city is scheduled for completion in 2014. The complex will have more than 200 hotel rooms and 66 apartments with a minimum area of 33 square metres for sale at prices starting from VND33 million ($1,600) per square metre.

Also in Nha Trang, Hoan Cau Khanh Hoa Company last week launched sales of 143 apartments at starting price of $1,700 per square metre. The units are part of Nha Trang Center, which also has 266 hotel rooms and a shopping mall to be opened this weekend. The apartments will be handed over to buyers by the end of the year.

Meanwhile, the Cotecland recently began sales of almost 400 apartments on its beachfront Blue Sapphire in Vung Tau and had attracted buyers for around 20 per cent.

In the central coast, Indochina Land has also begun selling villas in its golf course Montgomerie Links Vietnam and the last condominiums at the Hyatt Regency Danang Resort and Spa.

Patrick Basset, vice president for Accor Vietnam, said: “In the past decade, as Vietnam has seen more discerning leisure travellers staying for a longer period of time - up to seven to 10 days, Accor believes that both major cities - Hanoi and Ho Chi Minh City and second-tier cities such as Danang, Nha Trang, and Hue have great potential of extensive growth and development. Nevertheless, we also see potential in other areas as well, such as Vung Tau, Phu Quoc and Hoi An, as these places have a strong appeal to tourism in the near future as long as they are accessible enough for travel through air transportation.”

He said: “Vietnam’s tourism industry has changed tremendously due to the stronger domestic economy as well as the increases in foreign investment in potential tourism destinations.

“These significantly drive a higher demand for quality hotels and contribute to a more favorable outcome for the country’s overall tourist industry.”