Charmora City Nha Trang: Sun Group’s Island City and Why It Is Closed to Foreign Buyers
Charmora City masterplan render — Sun Property’s island city in Nha Trang.
Charmora City is an island-city development by Sun Property, part of Sun Group, built in the centre of Nha Trang. It is organised as three separate islands — Capital Island at 68 ha, Festival Island at 116 ha and Elite Island at 43 ha — roughly 227 ha in total, mixing townhouses, villas and high-rise apartments.
This guide covers the structure, the phases currently selling, the apartment mix in The Fest 2 tower, the sales policy and payment schedule, construction status, and the points to verify before committing — current as of August 2026.
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Can foreigners buy at Charmora City?
No. The project is not selling to foreign purchasers, and that includes the apartment towers. We are stating this plainly because the opposite has circulated in the market: in November 2025 an agent briefing indicated a limited foreign ratio might apply; a December 2025 update said no such information existed for the low-rise product. The position we can confirm is that there is no foreign allocation to buy into.
If you are a foreign national looking at Nha Trang, the practical alternatives are projects that have actually opened a quota — we cover those separately.
How the three islands work
Sun Group positions Charmora City as an international island city in the centre of Nha Trang. Unlike a coastal resort development on the outskirts, this is a full urban district built on reclaimed islands and peninsulas inside the city itself, with housing, retail and entertainment.
| Island | Area | Role |
|---|---|---|
| Capital Island | 68 ha | The administrative and commercial urban core of the development |
| Festival Island | 116 ha | The largest island, positioned as a “city that never sleeps” — festivals, entertainment, night-time retail and a water-show plaza |
| Elite Island | 43 ha | Low-density premium low-rise district |
Festival Island and its water-show plaza — the entertainment core of the development.
The islands are released in phases rather than all at once. By August 2026 the market had passed these milestones: the model street and Mega Booming event (June 2026), the Zone 2 low-rise release on Elite Island, sale-and-purchase contract signing for The Charm tower on Elite Island from August 2026, and the current release of The Fest 2 on Festival Island.
Location and connectivity
Regional connectivity map for the development.
The advantage over other Khanh Hoa resort projects is straightforward: Charmora City is inside Nha Trang, not in a bay 30 to 40 minutes away. Owner-occupiers get the existing urban infrastructure; buyers letting out units get access to tourist flow that already comes to the centre.
Regionally the area benefits from Ring Road 3 Khanh Hoa and the Nha Trang – Central Highlands corridor. The developer also worked with carriers to open a Hanoi – Nha Trang route from 20 July 2026 to lift domestic arrivals.
The Fest 2 — the tower currently selling
Typical floor plate of The Fest 2 tower.
The Fest 2 stands on Festival Island, the second apartment tower in The Fest cluster after The Fest 3. The unit mix is weighted to compact sizes that work for both living and short-stay letting:
| Unit type | Carpet area (m²) |
|---|---|
| Studio | about 29.2 |
| 1 bedroom | about 38.6 |
| 1 bedroom + | about 49.2 |
| 2 bedrooms | about 60.6 |
Published timings for The Fest 2: on sale from July 2026, handover expected February 2029. Some sea-facing two-bedroom units sit in a limited pool released in stages rather than being available from the start.
Prices and sales policy
Entry prices published by the developer for The Fest 2, including VAT and the maintenance fund:
| Unit type | From |
|---|---|
| Studio | about VND 2.4 billion |
| 1 bedroom | about VND 2.6 billion |
| 1 bedroom + | about VND 3.6 billion |
These are entry prices by type, not the price of every unit of that type. High floors, sea aspects and units facing the water-show plaza sit materially higher. The binding figure is the quotation for your specific unit code.
Sales policy 01 for The Fest 2, issued 19 July 2026:
| Item | Level |
|---|---|
| Early bird discount | 3% |
| No-financing discount | 5% |
| Early settlement at 95% | up to 14.5% |
| Maximum combined discount | up to 22.5% |
| Interest support when financing | up to 30 months, no later than 30 September 2029 |
| Sun Early Key | payment spread up to 55 months |
| Owner privileges | Sun Signature, the Sun Group loyalty programme |
How Sun Early Key works: you pay 70% over roughly 31 months from launch to handover, then the remaining 30% is spread over a further 24 months after you take the keys, ending February 2031. The advantage is that you take possession and can operate the unit having paid only 70%. The trade-off is that your obligation runs two more years after you already hold the property — worth modelling carefully if the plan is to resell early.
Construction and legal status
Infrastructure and low-rise construction on site.
Completed low-rise townhouses — the model street opened in June 2026.
The 1/500 master plan is approved. On construction permits, the developer was still updating these item by item at the time of writing — normal for a 227 ha scheme built in phases, but you should still ask to see the permit for the specific tower or zone you intend to buy in.
On delivery, the developer does not sign a separate handover commitment outside the contract. All delivery timing and late-delivery remedies sit in the sale and purchase agreement — that is the document to read closely, not the brochure.
The management fee for the apartment towers had not been published at the time of writing; the developer says it will be notified before contract signing.
An honest assessment
Genuine strengths:
- A location inside Nha Trang rather than on its edge — tourist flow and urban infrastructure already exist.
- At 227 ha with Sun Group behind it, the entertainment and festival component is deliverable in a way a smaller developer could not manage. That component is what drives footfall, and footfall is what determines whether an apartment lets.
- A relatively low entry ticket — from about VND 2.4 billion for a studio including VAT — with payment spread to 55 months.
What to weigh carefully:
- Do not buy on the yield figures in the sales material. Those are projections that depend on future occupancy and room rates. They are not commitments and nobody underwrites them.
- Handover in February 2029 is more than two years away, and the 55-month scheme means obligations run to 2031.
- Nha Trang apartment supply will rise sharply over the next few years across comparable projects. If your plan is resale, you will be competing with the developer’s own later releases.
- No foreign sales — which also means a narrower buyer pool when you come to sell.
Frequently asked questions
Read next
- Libera Nha Trang — the Nha Trang project that has opened a foreign allocation.
- Viet Kieu property guide — how Vietnamese nationality changes what you can buy.
