Confirming a Desirable and Investable Position
On the path to becoming a premier livable coastal city in Asia, Da Nang’s urban real estate is forecasted to undergo a significant transformation, becoming increasingly attractive, especially with the presence of worthy projects.**
The Vietnam Real Estate Market Report for Q1/2024 & Forecast for Q2/2024 by the Vietnam Association of Realtors (VARS) shows that the wave of market recovery is increasingly widespread. Many new projects that have been launched have recorded good levels of interest, transactions, and price growth in both primary and secondary markets. Among these, Da Nang maintains its position as a standout highlight.
According to VARS’s forecast, the demand for housing in the upcoming period will remain high, supported by economic growth and urbanization. The segment with the highest demand – apartments – will continue to lead the market due to the increase in real demand.
Shifting Investment Trends Due to High Prices in Major Cities
As the prices of high-end real estate in Vietnam continue to rise, investment trends are increasingly shifting towards dynamic urban areas like Da Nang. This shift is driven by more favorable pricing, abundant potential, particularly with modern transport and service infrastructure, developed tourism, a good living environment, and broad opportunities for employment and investment.
Da Nang is one of the few localities in Vietnam with a complete transportation infrastructure, encompassing a variety of modes including air, sea, road, and rail. It is likened to a hub—the central point of transportation for the entire country, and even the Asian region. This advantage enhances connectivity, making it convenient for residents and tourists to travel across the country and worldwide.
Dang Nang's Unique Appeal and Development Prospects
Additionally, Da Nang is renowned for its “5 no’s – 3 yes’s – 4 safeties” brand, an integrated education and healthcare system featuring high-quality schools from preschool to university, and 23 public, private, and international hospitals. The city boasts the second-highest doctor-to-population ratio in the country. Da Nang’s investment environment is highly competitive, supported by open, transparent policies that facilitate businesses and investors. The sincerity, warmth, unity, and dedication of the people of Da Nang to communal development are key factors contributing to the city’s unique charm. This attractiveness draws 15-16 thousand new residents each year, including many foreigners.**
Looking ahead, as various plans such as the general plan for Da Nang for 2021-2030 with a vision to 2050, the Han River and East Bank subdivision plans, and the “River of Light” project with a scale of 400 billion VND, along with many high-end and modern projects, begin to take shape, the goal of becoming a premier livable city in Asia as outlined in the general plan will undoubtedly become a reality.
According to Vo Tri Thanh, Director of the Institute for Brand and Competitive Strategy Research: “Looking at Da Nang’s general plan, it’s clear that there is immense development potential, which translates into numerous opportunities for investment, business, and employment in this coastal city.”
Future Prospects and Necessary Developments for Da Nang
In the future, the city needs to be prepared to welcome high-quality personnel from both domestic and international sources, with the potential for millions of people to settle, work long-term, and enjoy life in Da Nang. Therefore, developing dynamic mixed-use complexes to create modern living spaces that align with international trends is both a necessary demand and a motivation to attract elites, intellectuals, experts, and high-quality human resources to Da Nang.
Emerging High-Quality Projects
According to the newly announced plans, the Han River and East Bank subdivision will be the urban, administrative, and political center; a gateway for riverfront and beachfront tourism; a hub for national and international conferences; a center for finance, high-quality education and training in the Central region, and culture, sports, and healthcare.
To realize this vision, numerous large-scale projects will be invested in along the Han River and East Bank, such as the “River of Light” project with a budget of 400 billion VND, the Han River tunnel, and various high-end, modern complexes. These developments are essential to elevate the area’s appearance, enhance its attractiveness, and create unique, high-class value for the Han River area—the “heart” of Da Nang.
Nguyen Van Dinh, Vice Chairman of the Vietnam Association of Realtors, commented: “The comprehensive infrastructure investment will make the Han River area more vibrant, truly becoming the entertainment hub of Da Nang, attracting both domestic and international tourists. This will, in turn, boost the tourism and service sectors and increase the value of the ‘diamond’ real estate along the river, which is ideal for living and vacationing, a segment currently in short supply in Da Nang.”
Recently, key projects befitting the status of Da Nang’s “heart” area have gradually emerged. These include high-end, multi-functional real estate complexes with full amenities along the Han River, such as Sun Cosmo Residence Da Nang, Sun Ponte Residence, and the newly introduced dynamic and modern complex, Sun Symphony Residence.
Sun Symphony Residence is likened to the most majestic Sol note in the “symphony” of an elevated lifestyle by the Han River, meticulously developed by Sun Property (a member of Sun Group). This residence boasts an exceptionally rare, nearly unique waterfront location at the “center of the center” along the lower reaches of the Han River, near where the river meets the sea, surrounded by picturesque landscapes on all sides. It is an all-in-one complex offering diverse values and a variety of products with two sections: the high-rise The Symphony and the low-rise The Sonata. This development brings a new standard of living, entertainment, and leisure to the city.
The Unique Appeal and Promising Future of Da Nang’s Riverside Projects
Particularly noteworthy is the location on a rare alluvial strip along the Han River, inspired by the iconic image of the Marble Mountains and the soaring dragon. This project also holds significant feng shui value, promising to bring prosperity to the Han River area. It is set to be a bright highlight in the vibrant, flourishing landscape of a city worth visiting, living in, and investing in on a continental scale.
Nguyen Cao Cuong, Deputy General Director of Sun Property, stated: “The appeal of projects like Sun Cosmo Residence and Sun Ponte Residence in recent times clearly demonstrates the value and allure of real estate along the Han River. We expect that with the ‘Sol note’ of Sun Symphony Residence, the ‘symphony’ of an elevated lifestyle by the River of Light will become increasingly attractive, befitting the status of an internationally recognized livable and investable city. Additionally, these projects will serve as a ‘magnet,’ drawing elites to settle, work long-term, and contribute to Da Nang’s development.”