Coastal condotel fever spreads to Phu Quoc
A condotel project which holds the glittering and mysterious beauty of the pearl that is about to launch in Phu Quoc. This project is expected to "quench the thirst" of investors.
.jpg)
Phu Quoc is an attractive destination for international visitors
Coastal condotel fever spreads to Phu Quoc
Never before has the condotel market boomed and is as attractive as today. Savills' preliminary statistics show that there are 36 "second homes" projects currently operating in the country with a total of 7,000 units. 17,000 more will be added to this market over the next three years. In particular, condotel is the most popular type, accounting for 65% of the "second home" supply in major coastal markets.
An accelerating Phu Quoc
The three most developed real estate markets in Vietnam are Da Nang, Nha Trang and Phu Quoc. In particular, most of real estate consultants such as CBRE, Savills, JLL … have given "sweet" words for the future of resort real estate in Phu Quoc, with the belief that in the near future the largest island in Vietnam will become a tourist paradise, like Bali of Indonesia, or Phuket of Thailand.
According to Savills, Vietnam's resort cities have overtaken Hanoi and Ho Chi Minh City on international visitor growth. In particular, Phu Quoc – with its isolated location and healthy temperate climate with sunshine all year round, oxygen richness and low humidity has become an attractive destination and a new choice for international travelers, with a growth rate of up to 40% last year.
According to Duong Thuy Dung, Director of CBRE Research Division, despite of its late start, Phu Quoc is speeding up faster than any other places to catch up with Nha Trang and Da Nang on resort real estate development. With only small hotels and resorts at the beginning, Phu Quoc currently has more than 2,500 3-5 star hotel and villa rooms. It is forecasted that the supply of high-end hotel rooms will grow at an average annual rate of 30% in the coming years.
With the infrastructure system being completed, such as the airport being upgraded to double capacity, international seaports accommodating cruise ships of 5,000 to 6,000 passengers under construction, casino and the longest sea-crossing cable car in the Southeast Asia going to come into operation, plus preferential policies such as 30-day visa exemption for foreign visitors, etc., Phu Quoc has a great opportunity for breakthrough development.
Never before has the condotel market boomed and is as attractive as today. Savills' preliminary statistics show that there are 36 "second homes" projects currently operating in the country with a total of 7,000 units. 17,000 more will be added to this market over the next three years. In particular, condotel is the most popular type, accounting for 65% of the "second home" supply in major coastal markets.
An accelerating Phu Quoc
The three most developed real estate markets in Vietnam are Da Nang, Nha Trang and Phu Quoc. In particular, most of real estate consultants such as CBRE, Savills, JLL … have given "sweet" words for the future of resort real estate in Phu Quoc, with the belief that in the near future the largest island in Vietnam will become a tourist paradise, like Bali of Indonesia, or Phuket of Thailand.
According to Savills, Vietnam's resort cities have overtaken Hanoi and Ho Chi Minh City on international visitor growth. In particular, Phu Quoc – with its isolated location and healthy temperate climate with sunshine all year round, oxygen richness and low humidity has become an attractive destination and a new choice for international travelers, with a growth rate of up to 40% last year.
According to Duong Thuy Dung, Director of CBRE Research Division, despite of its late start, Phu Quoc is speeding up faster than any other places to catch up with Nha Trang and Da Nang on resort real estate development. With only small hotels and resorts at the beginning, Phu Quoc currently has more than 2,500 3-5 star hotel and villa rooms. It is forecasted that the supply of high-end hotel rooms will grow at an average annual rate of 30% in the coming years.
With the infrastructure system being completed, such as the airport being upgraded to double capacity, international seaports accommodating cruise ships of 5,000 to 6,000 passengers under construction, casino and the longest sea-crossing cable car in the Southeast Asia going to come into operation, plus preferential policies such as 30-day visa exemption for foreign visitors, etc., Phu Quoc has a great opportunity for breakthrough development.
.jpg)
Phu Quoc has a tremendous opportunity for breakthrough development; accordingly, the resort real estate value in the Pearl Island will certainly increase in the future.
Recognizing this potential, not only the "giants" such as Vingroup, Sun Group, CEO Group …, or foreign corporations such as InterContinental, Accor, Best Western, Marriott …, but also individual investors are all "flocking" to the Pearl Island. Thousands of villas, condotels, mini hotels, commercial townhouses, etc. have been offered in recent times, which are quickly "swallowed up" by huge demand, especially the demand of investors in Northern Vietnam.
Due to high affordability of investors, most of project’s owners focus on luxury segment, in which condotels and townhouses cum mini-hotels range from 4-12 billion VND/unit, while villas cost 10-40 billion VND/unit.
However, because of great sales, businesses are too keen to invest in the high price segment, leading to the paradox that although the resort real estate investment continues to boom strongly, there exists a big gap in price range below 4 billion VND. If individual investors who have saved several hundred millions to several billions can easily buy a condotel in Nha Trang or Da Nang, there is almost no chance for them to set foot in Phu Quoc.
“Quench the thirst” of investors
But visitors and investors will not have to wait long, because an upcoming condotel project will fill the gap in Phu Quoc. This is the first condotel project in Phu Quoc which focuses on the price segment of 3 billion VND with 80% of the apartments cost from 2-3 billion VND.
The project is located at the "heart of the center" as it is located in the center of Bai Truong, the longest coastline in Phu Quoc with the most mesmerizing sunset view in Vietnam. Taking the idea from Phu Quoc's famous pearl farming, the architects of Kume Sekkei, a Japan’s leading designer, built the condotel as a mollusk releasing pearl, with each apartment and villa as a precious pearl that is polished to every detail with perfect beauty. In addition to the abundant amenities and recreational facilities, the project also has a unique interconnecting swimming pool system.
Due to high affordability of investors, most of project’s owners focus on luxury segment, in which condotels and townhouses cum mini-hotels range from 4-12 billion VND/unit, while villas cost 10-40 billion VND/unit.
However, because of great sales, businesses are too keen to invest in the high price segment, leading to the paradox that although the resort real estate investment continues to boom strongly, there exists a big gap in price range below 4 billion VND. If individual investors who have saved several hundred millions to several billions can easily buy a condotel in Nha Trang or Da Nang, there is almost no chance for them to set foot in Phu Quoc.
“Quench the thirst” of investors
But visitors and investors will not have to wait long, because an upcoming condotel project will fill the gap in Phu Quoc. This is the first condotel project in Phu Quoc which focuses on the price segment of 3 billion VND with 80% of the apartments cost from 2-3 billion VND.
The project is located at the "heart of the center" as it is located in the center of Bai Truong, the longest coastline in Phu Quoc with the most mesmerizing sunset view in Vietnam. Taking the idea from Phu Quoc's famous pearl farming, the architects of Kume Sekkei, a Japan’s leading designer, built the condotel as a mollusk releasing pearl, with each apartment and villa as a precious pearl that is polished to every detail with perfect beauty. In addition to the abundant amenities and recreational facilities, the project also has a unique interconnecting swimming pool system.
.jpg)
Best Western Premier Sonoma Phu Quoc promises to "quench the thirst " of investors in the segment of 3 billion VND
It is known that the partners involved in the development of the condotel project are well-known names in the real estate market today. Among them, CEO Group is one of the largest investors in Phu Quoc and has been selected to the list of top 10 real estate investors in 2017 by the Vietnam Report. Best Western Group – the project business partner is the United States’ leading and world’s top 10 hotel management group. Hoa Binh Corporation – the general contractor – is the leading construction corporation in Vietnam.
Best Western Premier Sonasea Resort Phu Quoc – the quinessence of the Pearl Island, a luxury product of CEO Group in Bai Truong, Phu Quoc.
The project will be officially launched in Hanoi on 30/7/2017. Hotline: 0979 709 088/0903 261 123
This is also a real estate project offering the highest profit margin for investors in Phu Quoc market up to this point. With the bright future of Phu Quoc, CEO Group confidently committed to offering 100% of profits in 10 years to purchasers of five-star Best Western Premier Sonasea Phu Quoc. It is more attractive that the condotel prices of CEO Group are still low compared to those in such developed or saturated coastal resort real estate markets such as Da Nang and Nha Trang. Therefore, it is expected that the prices will continue to increase.
At a reasonable price, it promises to bring impressive holiday experiences, as well as double benefits for investors from the regular annual income and potential sudden increase in property values when Phu Quoc becomes a special administrative-economic zone in the near future. Therefor, this project is being aggressively hunted by investors, even though its teaser has just been released.
Best Western Premier Sonasea Resort Phu Quoc – the quinessence of the Pearl Island, a luxury product of CEO Group in Bai Truong, Phu Quoc.
The project will be officially launched in Hanoi on 30/7/2017. Hotline: 0979 709 088/0903 261 123
This is also a real estate project offering the highest profit margin for investors in Phu Quoc market up to this point. With the bright future of Phu Quoc, CEO Group confidently committed to offering 100% of profits in 10 years to purchasers of five-star Best Western Premier Sonasea Phu Quoc. It is more attractive that the condotel prices of CEO Group are still low compared to those in such developed or saturated coastal resort real estate markets such as Da Nang and Nha Trang. Therefore, it is expected that the prices will continue to increase.
At a reasonable price, it promises to bring impressive holiday experiences, as well as double benefits for investors from the regular annual income and potential sudden increase in property values when Phu Quoc becomes a special administrative-economic zone in the near future. Therefor, this project is being aggressively hunted by investors, even though its teaser has just been released.
