WHY INVEST IN REAL ESTATE IN DA NANG?
While a lot has changed since we first wrote the below in 2016 – Da Nang remains a premier destination for real estate investment!
Why Invest In Real Estate In Da Nang?
Updated: January 2023
While a lot has changed since we first wrote this in 2016 – Da Nang remains a premier destination for real estate investment!
Instead of just updating the below (yes number of international routes went up to 48 before COVID!) – we invite you to read the below and then have a look at this recent summary of an article on Why Da Nang Remains Attractive for Foreign Investors
Originally posted in August 2016:
Da Nang which has been recognised as a first-grade city in 2003, is perfectly situated in the center of Vietnam – 759km from Hanoi and 960km from Ho Chi Minh City with easy access via Danang International Airport, which already serves 16 direct international routes with over 20 international airlines present and more such as Qatar Airways joining soon.
In recent years, Da Nang has been witnessing rapid growth and is now considered to be the main economic and tourism hub of Vietnam’s Central Coast. City authorities have been focusing on sustainable green growth strategy thanks to which Da Nang has been chosen as one of the first 33 cities in the world to join the “100 Resilient Cities Challenge” by Rockefeller Foundation, as well as first 20 APEC low-carbon model cities. Da Nang has also received multiple awards and prizes, including the ASEAN Environmentally Sustainable City Award 2011 and the 2013 Asian Townscape Awards by the United Nations Human Settlement Program (UN Habitat Regional Office for Asia and the Pacific).
With over 60km of white sand beaches and three UNESCO World Heritage sites within short driving distance(Hoi An, My Son and Hue), Da Nang continues to be Vietnam’s premier seaside and fastest growing tourism destination bringing more international investors. With growing number of direct international flights to/from destinations such as Singapore, Hong Kong, Seoul, Tokyo, Shanghai, Guangzhou, Macau, Xian, Ningbo, and pleasant warm weather for great majority of the year, Da Nang is getting attention from international hospitality and property brands such as Intercontinental, Hyatt Regency and Banyan Tree to name just a few.
Apart from beautiful beaches, Da Nang offers entertainment such as Bana Hills Fantasy Park with one of the the longest cable cars in the world, International Casino Club, 4 world class golf courses, multiple modern cinemas, annual festivals and a theme park named Asia Park under construction. Living in Da Nang is easy thanks to great road infrastructure, high standard medical facilities (International Hospital and Clinic), multiple supermarkets offering broad selection of imported products as well as plenty restaurants offering both Vietnamese and International cuisines.
Jumping forward to 2023, Da Nang’s top five growth drivers and competitive industries underlining the reasons why it remains an attractive investment destination are:
Mix of pristine beaches, clean streets and low cost of living compared with other main cities make Da Nang top city to live in Vietnam
Young and dynamic workforce with largest concentration of schools and universities in Central Vietnam
Being a local transportation Hub and enjoying newer infrastructure than HCMC or Hanoi, Da Nang is home to the third busiest and very modern International Airport.
Strong cities have strong real estate markets and that is also the case in Da Nang. While in earlier phases and on a different scale compared to HCMC or Hanoi, Da Nang’s real estate market is showing steady growth!
As a separate city-province with all of the above advantages, Da Nang serves an entry gate to neighboring provinces of Central Vietnam, especially Quang Nam with famous Hoi An and Thua Thien-Hue.
Da Nang continues to lead the Central Coast Region as per the The Provincial Competitiveness Index, taking overall 5th position nationwide and taking that into account, author lists some of the most competitive industries of Da Nang including: Tourism, Logistics, Retail, Education, IT and Hi-tech manufacturing.