In the context of scarce supply of apartments in Nha Trang, Hung Thinh Land launched a project to meet the living and relaxation needs in the coastal city.

Covid-19 had a negative impact on Vietnamese economy, and real estate industry is no exception. In which, the situation of scarce supply of apartments for living and long-term ownership purposes continues to take place in the whole market.
 

The market is lacking supply of apartments
 

According to a recent report by the Vietnam Association of Realtors, the entire supply in the real estate market in the third quarter was mostly inventory from previous quarters. Supply as well as new projects were very limited and showed no signs of improvement. The supply in the whole market reached the lowest level for the past 5 years.
 

Particularly in the residential real estate segment, total number of products offered in the national market reached 35,852, including transacted 16,647 products, equivalent to an absorption rate of 40.9%. In the fourth quarter, this unit assessed that the supply in the market did not improve much, a large number of projects that were completing investment preparation procedures still faced many difficulties and could not participate in the market.
 

The shortage of apartment supply is also the problem of many coastal real estate markets, including leading tourism markets such as Nha Trang and Khanh Hoa. According to Mr. Phan Viet Hoang - General Secretary of Khanh Hoa Association of Realtors, for the past two years, the supply of high-class, legally qualified apartments in Khanh Hoa has also been disrupted due to the impact of Covid-19. However, the market still has many growth prospects due to the open policy of attracting investment in developing the local economy.
 

'Nha Trang is highly appreciated by domestic investors for its safety and good liquidity. Besides, residents in this coastal city, especially young people, have begun to change their mind about housing ownership as well as tend to choose apartments more,' Mr. Hoang said.

A corner of Nha Trang city beach looking from height, towards Bach Dang park with a view to An Vien urban area. Photo: Xuan Ngoc

According to preliminary statistics of Khanh Hoa Real Estate Brokers Association on the situation of apartment consumption (including commercial and social housing) in Nha Trang city, from 2011-2015, about 2,000 products in the market were absorbed. In 2016-2020 period, nearly 8,000 products were absorbed, marking a new development for the apartment market in Nha Trang.
 

In a recent talkshow of Real Estate Review community, many experts also said that the trading margin in Nha Trang was quite large for all product segments. Nearly all products, from bare land to apartments, resort real estate, villas,... when launched in Nha Trang, attracted strong attention.

Beach view apartments meet market demand
 

Khanh Hoa Department of Tourism is developing the program 'Khanh Hoa people go to travel Khanh Hoa' to prepare for the recovery of domestic tourism. Accordingly, anti-epidemic safety factor is put on top. The province also vaccinated more than 18,000 workers in the industry. Besides, from the end of last year, Cam Ranh International Airport was recognized by the Airports Council International (ACI) as a airport that is safe and meets health and anti-epidemic standards. Tourism enterprises have been also ready to resume their operation.
 

Along with the positive signals of the tourism industry, the real estate market of Nha Trang and Khanh Hoa has shown signs of warming again. A number of high-end apartment projects have been introduced and 'rebooted' in the market, including New Galaxy Nha Trang apartment complex invested by Hung Thinh Land.
 

Built on a larger scale of 1.9ha, the New Galaxy Nha Trang project includes 5 blocks, of which three blocks are 20 floors high and two blocks are 23 floors high with about 1,500 apartments and shophouses, located in An Vien urban area, Vinh Truong ward, Nha Trang city, Khanh Hoa.
 

With this location, New Galaxy Nha Trang is just a few steps from the coast of Nha Trang and is surrounded by mountains and sea. The project is located next to 3.3km hanger cable route, helping connect the mainland to Vinpearl Land resort complex. Here, residents and visitors can enjoy many outstanding tourist services. Travelling to many key locations and place names in Nha Trang such as night market, Dam market, Vinpearl amusement park, Hon Chong, Hon Tre, Ponagar Tower... is also convenient and easy.

Perspective of the New Galaxy Nha Trang project. Photo: Hung Thinh Land

In addition to the prime location, the internal utility system at New Galaxy Nha Trang is also highly appreciated by investors and customers, such as green park, overflowing swimming pool, jacuzzi, gym, commercial and service center, multi-purpose sports area, BBQ garden... Security factor is also focused with 3-layer standard security system and 24/7 security force.
 

With a series of internal and external facilities aimed at living experience like a resort, the investor shows an emphasis on quality of life and understanding of the relaxation and rest needs of customers. In a life full of pressures and stress, returning home with full amenities and diverse services will help people refresh with new positive energy. This is also a project to meet the needs of on-site tourism (staycation) and working in combination with vacation - real estate trends that have been emerging after Covid-19.
 

'If you feel tired, frustrated when living in major cities or worried that your health is threatened by the pollution, New Galaxy Nha Trang is the right choice, where you can receive sunshine, natural wind right in your own apartment, breathe the freshest, coolest and most refreshing sea air,' a representative of PropertyX, the project distributor said.
 

The project is interested by customers because of long-term legal ownership, reputable investor, prime location in the high-class An Vien urban area - which is planned as a 'high-class resort commercial' recreational tourist urban area' of Nha Trang City. New Galaxy Nha Trang is also located in the intersection connecting with Hon Ro residential area - Nguyen Tat Thanh Boulevard through modern bridges in the future. 'Choosing New Galaxy Nha Trang at this time promises to be the solution to the problem of safe investment and sustainable profitability for buyers,' a Property X representative said.

New Galaxy Nha Trang owns a complex of utilities aimed at living experiences such as relaxation every day.
Photo: Hung Thinh Land

Thanks to the advantage of being a gateway to the Central Highlands, Nha Trang - Khanh Hoa is promoting many key traffic projects such as Da Lat - Nha Trang expressway scheduled to start construction in 2021 - 2025 period, Buon Ma Thuot - Nha Trang expressway... Besides, the projects of Nha Trang - Phan Thiet expressway, Nha Trang - Binh Dinh, upgrading Cam Ranh International Airport are also being promoted, contributing to increase the number of tourists to Nha Trang, promote favorable trade in the near future.
 

Also according to Mr. Phan Viet Hoang, a real estate expert in Khanh Hoa market, the emergence of big brands, with the increase in investment capacity associated with modern and smart design apartment projects has recently created a new look and definition for the apartment market in Nha Trang.