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Is this the best opportunity so far?

Posted by Khoi Pham on March 13, 2021

On the way to work, I often wander with questions and thoughts about the real estate market.

But, today is probably the strangest day, when the question that comes to mind, reveals a new perspective and is worth re-contemplating: The real estate market in 2019 and 2020, due to the Covid-19, after many years of continuous growth since 2008, there have been signs of slowing down, but this slowdown was influenced by an external factor. The market is still very strong with continuously increasing demand and limited supply. With the financial ability, buyers now are more experience since the 2008 crisis.

Therefore, this slowdown is being foreseen, cleverly mediated by the mother of nature with an impact from the external force, Covid-19, pushing the real estate growth cycle to close gently from 2008-2020, and usher in a new growth cycle from 2021 onwards (which will precisely begin when Covid-19 ends, most likely by the end of 2021 when the majority of countries are successful in vaccinating Covid-19 to form community immunity).

This does not seem new, when in the past 2020, the real estate market is still very active. The demand and supply are always matched. The absorption is still very high in all segments, with the partial reason being due to the developers have launched many sales policies with great incentives or come with attractive loan packages, free management fee in 2-5 years… which only exist in Covid-19.

So what makes me think?

The Covid-19 has created a shadow covering every corner of the world, seriously affecting the supply chain and human health. This is the downside.

In a more positive view, perhaps Covid-19 compared with the 2008 financial crisis, serves as a less lethal hit to the politics and economies of the world. Perhaps, the mother of nature is somewhat being nice. Incidentally, this time, the 10-year growth cycle is terminated not directly attributable to human error (in fact the origin of Covid-19 up to this point is still on debates, is this disease caused by nature or with human impact?).

In Covid-19, real estate is generally supported by the leverage of post-Covid-19, creating gravity, stimulating a stronger demand growth in developing countries and well-controlled epidemic like Vietnam. Because, the belief of the majority is still on a post-Covid-19 scenario, socio-economic growth will enter a new growth cycle when the international community recognizes Vietnam as a country that controls the epidemic well, political stability through the XIII Party Congress, FDI continues to flow in strongly and grows…

Another thing is also dormant and accumulating inertial from the post-Covid-19 leverage: Vietnam tourism and the real estate attached to it.

This is what made me think a lot. Real estate in general in the apartments segments and landed properties are selected as the mainstream of real estate investment with the reason for the above growth.

But, what about tourism real estate? Is it true that the tourism real estate will get both leverages, not just 1?

Leverage from the post-Covid-19 growth and the leverage from the return of the tourism industry, which recorded a 79% decrease year-on-year in the number of foreign visitors in 2020 due to travel restrictions in the context of the pandemic when the country welcomed 3.83 million foreign tourists compared with a record 18 million in 2019.

Question: What if now, I choose to invest in real estate in places having the economic spearhead as the tourism industry and only choose projects with full legal status, potential for strong, long-term development in growing regions like Phu Quoc or Phu Yen?

Just choosing the right project in the places that are already a hotspot of tourism industry, then in 2022, when the Covid-19 is over, real estate there will be leveraged by a new growth of post-Covid-19, at the same time getting another impact from the leverage of the return of domestic and foreign tourists?

2 leverages, 1 project with full and well-regulated legal framework, good master planning and joins hands with international partners, convenient location in the city center and close to the beach, tell me if I am wrong when I cannot figure out why with all the above strict criteria mentioned have been ticked green, the real estate prices of those cannot go up.

Safe tourist destinations in the Covid-19 season in Vietnam

So, if have to choose, which options are there that meet all of the following conditions:

  • Clear legal, rare long-term ownership
  • Reputable developer
  • Good master plan, joins hands with experienced international partners to co-construct
  • Guaranteed construction progress
  • Location in the heart of the coastal city, close to the sea, on the coastal road or nearby
  • Suitable for complex business integration or accommodation
  • Tourism economy is the key economy of the region and is favored by the government as a hotspot for tourism development
  • Reasonable price
  • Expanded payment schedule

There are 2 names that have been observed for a long time, with good performance and deserved green lights for all of the strictest requirements mentioned above are:

  • Meyhomes Capital Phu Quoc (free-hold ownership on island city land, in 6% of the island area, 150m from the Bai Truong beach, the project aims to form a new CBD for the island city)
  • Kallias Complex City (50 years ownership, located in the heart of Tuy Hoa coastal city and on the coastal road where the AccorHotels Group complex will operate)

Meyhomes Capital Phu Quoc:

 Meyhomes Capital Phu Quoc and current progress


Kallias Complex City:

Kallias Complex City, Phu Yen and current progress


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