6-star Condotel - New trend 'conquering' investors in Nghe An - Ha Tinh

Condotel – the leading trend in resort real estate

Condotel (Hotel Apartment) is an abbreviation of two concepts Condominium (Luxury Apartment) and Hotel (Hotel). This is considered the trend of the current and future real estate market when bringing many values ​​in investment, rental and vacation.

In terms of purpose, condotel is a product for rent, vacation and is strictly managed and operated according to high standards. Inside a condotel is fully equipped with the functions of an apartment such as kitchen, bar, living room, bedroom... and also inherits the advantages of a resort hotel with internal facilities such as swimming pool, gym, restaurant, booking system...

Condotel first appeared in the US and has become a popular type of real estate in tourist countries around the world such as Canada, Singapore, Thailand... since the 1980s. Photo: Internet

The difference is that condotel allows guests to have full ownership of the apartment for vacation or rental purposes. In addition, condotel needs a unit to operate and manage the daily operations of the hotel.

Currently, most condotels promise to earn 8-12% profit for at least the first 3-5 years. In the following years, profit sharing with the management and operation unit will be applied (For example, 80% of the profit from renting hotel apartments belongs to the owner, 20% belongs to the operation unit).

Condotel investors welcome new price increase wave

In recent years, the condotel model has recorded remarkable growth, especially in famous tourist cities such as Da Nang, Phu Quoc, Ha Long, Vung Tau, Nha Trang, etc., because these are places with a large number of tourists visiting and staying, ensuring good application of the rental exploitation problem.

According to experts, thanks to its close connection with the number of guests staying, the recent recovery of Vietnam tourism has created a driving force for the development of the resort real estate market, especially the condotel segment. There is a lot of room for tourism real estate to develop in terms of both supply and demand and prices from now until 2025.

The condotel market in Vietnam has quickly “awakened” to meet the increasing demand for vacations from domestic and foreign tourists. Photo: Internet

According to the Ministry of Culture, Sports and Tourism, in the first quarter of 2022, international visitors reached nearly 91,000, an increase of 89.1% over the same period. Domestic tourism also recorded many positive signals with the number of visitors estimated at 26.1 million. Total revenue from tourism in the first 3 months of the year is estimated at 111.2 trillion VND. It is forecasted that the "smokeless industry" will be like a "compressed spring" that will rise even stronger than before the pandemic due to the "compensatory travel" mentality after a long time staying at home.

In addition, the May 2022 market report of DKRA Vietnam shows that the condotel supply compared to March and April 2022 has had a slight recovery, showing that investors are assessing the market quite well to catch the growth wave. Notably, in the first 3 months of 2022, the condotel consumption rate reached 32% of new supply, equivalent to 199 units, 3.3 times higher than the fourth quarter of 2021, showing signs of recovery.

Recently, the proposal to grant long-term red books for condotels, officetels, etc. is also creating a positive effect and is considered a new step with important significance for the resort real estate market. It is important that investors should choose investors with large projects, building multi-utility ecosystems and operated by reputable international units to ensure cash flow and profits meet expectations.

Golden opportunity to own a 6-star condotel in Quang Binh

Only about 200 km from Vinh City and about 155 km from Ha Tinh City, equivalent to 3 - 4 hours of travel, Quang Binh is currently a "promised land" that many investors from Nghe An and Ha Tinh are looking for. Among them, the potential project that has caught the "green eye" of experienced investors is the 6-star condotel Dolce Penisola Quang Binh.

As the first 6-star hotel apartment complex in Quang Binh, the first condotel along the Nhat Le River and the tallest apartment building in Dong Hoi City, the Dolce Penisola Quang Binh Project developed by investor Onsen Fuji with an investment cost of up to 1,500 billion VND is positioned to become a new international resort icon in the city.

Dolce Penisola has a scale of more than 8,000 m2Including 2 27-storey hotel apartment buildings, spectacular 360-degree view and a chain of expensive podium shops, comparable to the symbols that nature has bestowed on Quang Binh.

Located along the Nhat Le River on the golden land of Bao Ninh, right at the intersection of Vo Nguyen Giap Street and Nhat Le II Bridge, Dolce Penisola Quang Binh attracts all eyes thanks to its high-end Low-E tempered glass system, shining like a multi-colored diamond. The entire apartment will receive maximum sea view and natural light while still ensuring anti-oxidation from the sea breeze, protecting the interior and the luxurious gold-plated architecture inside.

Notably, the utility system in the project is operated according to 6-star standards from Dolce - the most luxurious brand of the world's leading hotel group Wyndham Hotels & Resorts. A "paradise" of relaxation combined with large-scale, green and sustainable health care tourism according to wellness standards including mineral spring swimming pool, spa, golf course, casino, hanging garden, conference center... will be an opportunity to improve the quality of life and be a magnet to attract wealthy and classy customers to the beautiful coastal city of Dong Hoi, thereby increasing revenue for condotel products in the project.

In addition, one of the factors that attracts customers to Dolce Penisola Quang Binh is the "profitable investment" policy framework. Specifically, each condotel unit is currently priced from only 1.2 billion VND/unit. When signing a sales contract, customers only have to pay 10% in advance, the remaining payment is 3 - 5%/period, divided into 25 installments. The project is supported by OCB Bank to borrow at least 50% of the apartment value. The investor commits to share profits of 80% (owner) - 20% (management and operation unit).

With the leading product ecosystem in Quang Binh market and attractive investment policy framework, Dolce Penisola is currently leading the condotel product line to fully meet the opportunities for vacation, business as well as rapid asset growth for professional investors.