Condotel sales at lowest level in six years

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