February Residential Highlights: Coastal Properties in Da Nang

During the outbreak of Covid-19, Da Nang’s residential and resort market slowed. However, the outlook for residential real estate looks positive thanks to recent updates in urban planning. The city plans to diversify real estate and will focus on the residential market. Over the next few years, 14 villa and townhouse projects, spanning 850 hectares, will enter along with new apartment towers and urban areas.

The Da Nang City Government plans to restructure the economy with the mission to create a stable and sustainable development model. The need for a diversified economy was emphasised during the pandemic as the tourism sector was left in the lurch when travel, both international and domestic, came to a standstill for most of 2020 and 2021. The city plans to develop industrial parks and high-tech zones, which will attract investment along with new workers; it will also continue to flourish as an international coastal destination for travellers and investors. By 2045, Da Nang’s master plan aims for the city to be a major socio-economic hub in Viet Nam as well as Southeast Asia. This plan is key to the residential market, as a growing population and increasing levels of investment will drive demand for residential property.

According to Mr Nguyen Duc Them, Senior Manager of International Residential Sales, Savills Viet Nam: “The high-end residential market in Da Nang has started picking up, and there were some successful transactions towards the end of 2021. With social distancing and travel restrictions easing, Da Nang’s apartment market is set to perform well in 2022. The residential market in Da Nang is interesting as properties offer residents luxury services and facilities that you might expect in bigger cities like Ha Noi or Ho Chi Minh while providing a ‘vacation’ experience with the sea, mountains and vibrant city. With a population of less than two million, commuting is also easier compared to HCMC and Ha Noi. Residents get the best of both worlds, a cosmopolitan city and a resort lifestyle.”

At the end of 2021, residential sales improved in some projects. The 6nature Da Nang, a luxury complex in Son Tra District, was one of the properties with improved sales. Positioned next to My Khe Beach on Vo Nguyen Giap Street, this is one of the last high-end high-rise projects in the area, as the authorities have stopped giving planning permission for these projects. With luxurious services, competitive prices, and limited availability, The 6nature is an attractive investment property.

With the quality-of-life residents enjoy and the investment potential Da Nang holds, Savills has compiled a list of residential projects. These projects are great for everyday living, investment, or as second homes.