Measures needed to control condotel projects
The condotel market was severely affected by the Covid-19 pandemic after exploding in 2016-2018, which led to supply exceeding demand. Many localities have ended the licensing of new condotel projects. According to Mr. Nguyen Van Dinh, General Secretary of the Vietnam Association of Real Estate Brokers (VAREB), the suspension or tightening of control over condotel projects is necessary for the market.