REAL ESTATE PRICE FLUCTUATIONS IN DA NANG 5 YEARS (2017-2021)

Over the past 5 years, Da Nang real estate has experienced many fluctuations when going through both peaks and recessions, the average price of all types of real estate has decreased compared to 2019 but is still quite high.

Da Nang is a key real estate market in the Central region, developing quite early and contributing to the regional market orientation. This is also the locality with the highest percentage of urban population in the country (about 90%), moreover it is also a tourist city, so it is not difficult to understand when the real estate market in Da Nang has grown strongly for many years. In fact, in the history of the Da Nang market, there have been many waves of land fever that pushed prices up quite high and it is not uncommon for a long period of quietness.

According to big data from Batdongsan.com.vn, in the past 5 years, real estate prices in Da Nang have fluctuated quite strongly. Specifically, 2019 is said to be the climax of the Da Nang market in the past decade with most types of real estate listed for sale on Batdongsan.com.vn increasing in price by 2 times, even nearly 4 times. times compared to 2017. Specifically, the projects land plot from the average price of 8 million/m2 in 2017 jumped to 31 million/m2 in 2019, an increase of nearly 4 times. Private houses also increased from 29 million/m2 to 55 million/m2, nearly twice. The type of apartment building increased from 28 million/m2 to 40 million/m2.

However, entering 2020, after overheating and being affected by the Covid-19 epidemic, the Da Nang market gradually cooled down and calmed down. The project land price decreased by about 25%, the price of private houses decreased by 14%, the apartment price decreased by about 7% compared to 2019. The downtrend continued to 2021 but gradually recovered to the pre-epidemic milestone and remained at a high level. compared to 2017. At the beginning of 2022, residential real estate, especially commercial real estate in Da Nang continued to recover strongly after the Covid-19 epidemic was pushed back and the city opened to tourists from 15 /3.

Source: Batdongsan.com.vn