Praised as one of the most alluring tropical paradises in Southeast Asia with various nature favors such as long sparkling white sand beach and spectacular landscapes, Vietnam is a potential destination to develop and invest on tourism real estate product, especially Condo Hotel. In particular, the coastal city of Nha Trang is one of the cities with well developing hotel apartments model.
The coastal city of Nha Trang marks it outstanding position in the tourism map of the Center Vietnam with total area of 5.197km2 and population of 1.2 million. Thanks to its geographical advantages, Nha Trang City has been a traffic hub, the economic and cultural center of the region.
With 385km long of marvelous shoreline, 200 coastal islands and over 100 islands and various reefs of the Spratly Islands, 4 large coastal gulfs (Van Phong Bay, Nha Phu Bay, Nha Trang Bay and Cam Ranh Bay). Nha Trang Bay is a member of the World’s most beautiful bays club. This is a potential advantage for development of tourism and resort real estate and Condotel in Nha Trang in the future.
According to data from the Vietnam National Administration of Tourism, expected in 2015 – 2030:
- Total number of international passengers increased from 1 to 1.2 million; average length of a hospital stay increased from 4 to 3.0;
- Number of Domestic passengers increased from 2.4 to 5 million; average length of a hospital stay increased from 1.2 to 1.8;
- Total number of night stay increased from 2.9 to 9 million.
- Demand for hotel rooms of international tourists increased from 6000 to 10.600, that of domestic tourists increased from 7000 to 13.100.
- Estimated total revenue from international visitors increased from 286 to 972 million, revenue from domestic tourists increased from 112.0 to 509.6 million.
These figures show a huge development potential of Condotel in Nha Trang. Wise investors have been quickly leading this trend, including one of the most well-known real estate developer – Vingroup.