Big developments in Danang

For years, developers have pitched Da Nang, with its 31 kilometer stretch of beach on the South China Sea, as Asia's next luxury hot spot to rival sumptuous resorts in Thailand and Indonesia. Now, after a difficult period, there are signs the market is picking up.

Five of eight oceanfront villas in the latest phase of the Vietnamese city's Danang Beach Resort have sold in the past three months for $1.6 million to $2.8 million, says Matthew Koziora, director of sales and marketing at Vietnam-based developer VinaCapital Real Estate. The most luxurious homes in the 260-hectare resort have five to seven bedrooms, large terraces for indoor/ourdoor lliving and multiple private swimming pools... 

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