Vietnam’s condotel market is facing liquidity issues, with sales hitting the lowest level in six years in the first quarter of 2024. Around 90% of condotel projects in the country saw no sales during the period, according to a report by property consultancy DKRA Group. Out of the 4,800 condotel units available for sale nationwide, only 64 units were sold in the period, representing just 1.3% of the total. In popular tourism destinations such as Da Nang, condotel sales have plummeted to a 10-year low, it said. Developers are trying to boost demand by offering various support policies, but they are still struggling to attract buyers.
Source: Vietnam News Agency