Tourism investors keen on Hoi An

Its reputation as the most attractive tourism spot in the central region has helped Hoi An attract more private investors who want to invest in tourism properties.

“Every day, there are around 15 – 20 real estate transactions, focusing on garden-houses or land plots next to the river and sea. Most of the customers come from Ha Noi,” said lawyer Nguyen Van Hai, head of the town’s notary’s chamber.

The land transaction values range from VND2 – 10 billion (US$100,000 – 500,000).

Currently, the fishing village urban project number 4 in Cam An ward is the most popular among investors, thanks to its geographic position: one side connects with Co Co River and another links with Cam An Beach.

In addition, the road along the sea has helped increase the price of the land 2.5 times, from VND3.5 million ($170) per one square metre in the middle of last year to VND8-9 million ($400-450).

The price is expected to rocket as the 13.5-metre wide road along the sea and other infrastructure will be completed.

Along the road, investors are interested in the VND303 billion ($15 million) Phuoc Trach – Phuoc Hai Urban project invested in by the Civil Engineering Construction Company No 501.

“In the coming time, when Cua Dai bridge is completed, our project will become an important satellite town to connect all tourism urban projects from Cua Dai beach to Chu Lai,” Le Tu Tam, director of the company, said.

The number of transactions for the project reach 10 cases a day with the price on paper VND6.5 million ($320) per square metre, while the real price may go two to three times higher.

In addition to this trend, Hoi An authorities have encouraged community tourism, which involves local residents and tourism companies cooperating to open home-stays. Investment in garden-houses has skyrocketed because of this relatively new opportunity. — VNS

Tags: Hoi An, Vietnam Tourism