Money poured into resorts

People look at the model of Lotus Residences in Quang Ninh Province in June (Source: VNS)

Seeing the great opportunities in the country's northern region, where resort property projects are not as abundant as in the central and southern regions, many developers have poured money into the segment and the market reaction has not let them down.

Joining the race in the northern resort property market, the BIM Group recently introduced Van Lien (Lotus Residences), a luxury resort townhouse project in the prime location of the Halong Marina Urban Area in Quang Ninh province's Ha Long city.

The project, since its first sale in June, has attracted a large number of investors and recorded a considerable number of purchases after two sale openings.

Syrena Vietnam, a subsidiary of the BIM Group that focuses on property and tourism development, said the project's attraction lies in the integration of the core values of life and investment, its prime location in Quang Ninh province, one of the most attractive tourist destinations in the north with the World Natural Heritage site of Ha Long Bay, along with well-developed infrastructure and good connectivity.

Quang Ninh has been recognised as the busiest resort property market in the north, given its natural advantages and prominent socio-economic conditions. It is reflected in the presence of numerous projects, worth billions of dollars, of major players such as the BIM Group, the Sun Group, Vingroup and FLC, as well as the CEO Group and Tuan Chau.

In addition, more reasonable prices and equivalent profitability, when compared with resort properties in the country's central region, also make the resort properties in Quang Ninh appealing to investors and drive many of them, especially those from Hanoi and the neighbouring provinces and cities, to make purchase decisions.

Buying a resort property is considered a good decision for investors amid the recovery of the realty market after a prolonged frozen period, as the asset is not only their second home, providing them opportunities to enjoy life in a natural environment and with luxurious amenities, but also a safe investment in the long run.

The BIM Group guarantees a combined profit of up to 1.7 trillion VND (75.5 million USD), or 24 percent of the townhouse's value at Lotus Residences, in the first three years of operation under the "rental pool" management model.

From the fourth year, the townhouse owners will receive 65 percent of leasing profits, together with 60 days of accommodation for fee (estimated to worth 300 million VND (13,330 USD) per year.

Rental pool is a popular management model followed in resort projects, but applied for the first time in Lotus Residences in Ha long city, in which the parties involved share rental income from a property as well as the expenses associated with its ownership and maintenance.

Amid the recovery of the property market with an abundant choice of projects as investments, industry experts said investors now consider many factors such as location, price, quality and profitability, as well as developers' capacity and prestige, before deciding to purchase anything./.

Source: VNA