The central coastal city of Da Nang has emerged as an attractive tourist destination for both domestic and foreign visitors in recent years, stimulating rapid growth of accommodation in the city.
As visitor numbers to Da Nang increase, the number of hotels built in the city has also risen tremendously, especially those by the beach and along the Han River.
The condotel (a hybrid of a condominium and hotel) market in the coastal city is swelling. The city is expected to have 14,000 condotelsby 2018.
Some 20 international hotel brands have conducted business in the city.
The drastically growing demand of investors to Da Nang has pushed up the price of real estate in the city.
Experts said real estate market development in Da nang is the most rapid in the country.
However, they also warn that the explosive growth may result in oversupply, despite the potential of the city’s accommodation market.-VNA
