Shock from the Corona pandemic: Which direction for the real estate market?

The Corona pandemic broke out and became a threat, affecting all aspects of the social life, of course, the real estate market could not avoid such extreme misfortune. Especially, the resort real estate is under the biggest "shock". In that context, the product line of suburban low-rise villas and high-class apartments with fresh living spaces has become the "salvage" to help the real estate market escape the hardships.

Suffering “a great blow” from the Corona pandemic, real estate goes downhill

More than a month has passed since the news of the Corona plague spread out from Wuhan City on December 31, 2019, the whole world is still being stunned. In the blink of an eye, the epidemic has spread everywhere and it is no longer a private affair of Wuhan people. The World Health Organization has released a global emergency alert.

According to the official updated news from the Ministry of Health of Vietnam about the number of people infected with corona virus (nCoV) by 12pm on February 9, 2020, the total number of infected cases is 37,552, and the deaths are 813 (mainland China: 811 people, Philippines: 1 person, Hong Kong (China): 1 person). In Vietnam, authorities have recorded 14 people with Corona virus (nCoV).

The rapid spread of the Corona epidemic has caused affects on every aspect of the social life, from early spring festivities to children’s day-to-day school activities must be halted. People are struggling in the “heart of the stormy pandemic”.

In this context, tourism and resort real estate are considered to suffer from the hardest hit. Commenting on this situation, Mr. Mauro Gasparotti, Director of Savills Hotels Asia – Pacific – a senior well – experienced expert said that the new corona virus (nCoV) pandemic has caused a big shock to the global tourism industry and significant impact on hotel and resort business activities in the coming time.

 

Mr. Mauro Gasparotti, Director of Savills Hotels Asia – Pacific

According to his analysis, the domestic tourism demand decreased significantly because the majority of people tended to avoid crowded places such as airports, train stations, bus stations and even restaurants or entertainment areas. Vietnam is facing a lot of negative consequences of this global pandemic. Before that, Vietnam received about 5.8 million Chinese tourists each year and the average expenditure of each tourist is about USD $100 per day.

Since the breakout of the pandemic, the number of Chinese tourists to Vietnam plummeted, while this was the largest source of tourists, accounting for more than 30% of international tourists in 2019. He further stated that hotels have been receiving a large number of room cancellation requests in the past few weeks not only from groups of tourists and business travelers, but also from individual customers.

 

Resort real estate is afflicted by the Corona pandemic

Seeing that fact, many experts also believe that in the short-term, resort real estate will be negatively affected by a sharp decline in tourism demand. In the first two months of 2020, the resort real estate market is extremely bleak. Real estate businessmen, of course, are discouraged to put down their money in resort real estate projects for the fear of risks. Mr. Vu Minh – a long time real estate investor in Hanoi said: “Obviously, the empty tourist areas will make investing in resort real estate not a wise move at this time. I think that high-end apartments and suburban villas are the least affected and these are also the indispensable product lines of the future. Therefore, I decided to divert investments”.

What escape for Vietnamese real estate in the “heart of storm” of Corona pandemic?

It can be seen that continuous negative impacts from the polluted environment, dirty air, fine dust or most recently the Corona pandemic have affected the awareness, thinking, living and relaxation trend of everyone. More than ever before, people now yearn to live, take rest and relax in fresh spaces but still with comfort, trendiness, absolute security, privacy and especially safety.

Therefore, when the resort real estate market is gloomy, the product lines such as suburban villas and high-end apartments that fully meet the above needs … will be irresistible “salvage”. This is not only a situational measure in the context of a pandemic that is haunting the whole world but will certainly become an inevitable trend of the future.

 

Sunshine Group’s high-end apartment projects bringing fresh and spacious living spaces become a strong “attraction” to customers and investors.

Over the past few years, a new investor name has appeared in the market but has quickly asserted its position with product lines of “future forecast”. Sunshine Group and its Sunshine Homes real estate development brand are positioned in the market as the first developer of Vietnam to apply tech and fintech in the real estate field, with absolutely distinct product lines.

Looking at the projects of Sunshine Homes, we can see that this Group has been a pioneer, “catching” the trend right from the product positioning strategy. No matter the product lines of high-end apartments or sky villas, low-rise villas in urban or suburban areas, all Sunshine Homes projects are consistent in a common: Targeting at classiness, trendiness, hightech and international 5 star living standards … so that every project must be like a Resort 4.0 imprinted with the unique marks of Sunshine.

 

Sunshine Homes villas become a solution to the residents’ desire for clean living spaces

In the high-end apartment line, there are a number of outstanding projects with green space, sophisticated architecture, high-end utilities and smart 4.0 technology such as: Sunshine City Hanoi, Sunshine Garden, Sunshine Boulevard , Sunshine Center, Sunshine Golden River (Hanoi), Sunshine City Saigon and Sunshine Diamond River (HCMC).

With the product lines of low-rise villas and sky villas, Sunshine Homes also asserts its values by a series of expensive projects such as Sunshine Crystal River, Sunshine Wonder Villas, Sunshine Venicia, …. Especially, in recent, the well-known investor has continued to launch a suburban resort villa project called Sunshine Heritage Resort. This is a modern urban area located about 16km from the center of Hanoi. In particular, Tropical Villas and Santorini Villas were revealed to be two hit Villas models that will appear at Sunshine Heritage Resort. If Tropical Villas has a tropical style that is very popular in Bali, Phuket, Mandive … then Santorini Villas presents the elegant and generous Mediterranean style.

 

Not far from the center of Hanoi Capital, Sunshine Heritage Resort project makes both the real estate businesses and customers “excitingly” looking forward

In parallel with the strong development of high-class real estate product lines, Sunshine Homes continuously has spectacular breakthroughs by building a diverse ecosystem imprinted with technology 4.0, including Sunshine Cab car-hailing app (similar to Uber and Grab app but completely free); Sunshine Pay e-wallet app; Smart Home associated with the Smart Living ecosystem; Sunshine Mart e-commerce system; Sunshine Service online system; along with a series of other smart applications (3D virtual interactive technology, digital video bell system …) … Especially, even in the first days of the new year 2020, the Sunshine Super App was launched as an impressive greeting to the real estate market. This app brings great benefits to not only customers, investors but also consultants.

Especially, Sunshine Homes has also devoted to building a 5-star international standard school system right on the projects’ campuses, officially entering the field of education development with the desire to give Vietnamese people the opportunity to access the pinnacle of education of the World.

With a self-contained compound model with all the most trendy utilities and privileges included in the project campus is the explanation why Sunshine Homes products always stand firm, despite the negative objective impacts. Furthermore, with the experienced, friendly and outgoing staff of Sunshine Service Team, all Sunshine Homes projects are operated methodically and professionally at the highest class, bringing a comfortable and convenient life for all residents.

From the fact, it is thought by the real estate business that Sunshine Homes has made one strategic step ahead, restructuring the product lines to satisfy the desire of living of modern residents. As an inevitable choice of the future, Sunshine Homes projects are always a “magnet” that attracts both investors and end-users.