Macau and Hong Kong Boom While Vietnam Slumps
Skift Take
- Vietnam's condotel market remains sluggish with excess inventory, unlikely to recover before 2025.
- Grand Ho Tram Strip casino resort introduces Ixora Ho Tram Fusion luxury residences to boost sales.
- Guangdong, China experiences high visa applications for Macau and Hong Kong due to increased tourism.
Vietnam News said the condotel market remains in a slump due to excess inventory, with industry insiders warning that it will not recover until at least 2025. Only 122 units were sold in the second quarter of 2023, despite the government regulations granting land ownership titles to condotels. DKRA Group said the inventory of unsold units topped 42,300 in June, far exceeding the combined inventory of beach shophouses and resort villas. Sales of existing condotels have been slow this year, and developers are struggling to sell them and bear the financial costs of bank loans to develop these projects. Is anyone out there willing to say that all the news in the last few weeks shows Vietnam as a market in trouble for any type of accommodations or integrated casino resorts?
The Grand Ho Tram Strip casino resort in Vietnam, which has had so many changes of ownership and partnerships as it continues to lose money, announced the launch of&n
