Vice president of Vietnam National Real Estate Association (VNREA) spoke about the difficulties and solutions to remove obstacles for the condotel market
VCN - There are many new types of tourist accommodation facilities, such as condotel (tourist apartments).
Ignoring analysts warnings investors bought thousands of condotels lured by developers promises of high guaranteed returns each year.
VCN- Officetels are mainly concentrated in big cities, especially in Ho Chi Minh City and Hanoi, and have increased rapidly in recent years.
VCN- Booming in the past period, but so far condotel has not been recorded in the legal documents related to housing and real estate.
VCN- For the enterprises, the condotel is a channel of transparent, legal and effective capital mobilization. The money poured into condotel comes from social capital, it comes from real ...