Branded real estate costs up to millions of dollars but still attracts famous stars in the world and in Vietnam.
Branded real estate is simply defined as real estate associated with a famous brand. This brand will bring their signature stamp to the project. It could be a service or a utility if it's a hotel brand, or a design if it's a lifestyle brand.
Appeared more than a century ago, but this segment has only been popular in the past 20 years, becoming a new "trend" of Hollywood brands and most recently, Vietnamese stars like Dong Nhi – Ong Cao Thang and Ha Handsome.
New "brand" of global artists
In the US - the cradle of luxury real estate, many famous stars own this new collection. For example, model Cindy Crawford bought a Ritz-Carlton luxury apartment in Miami, and producer Sydney Kimmel used to own a Ritz-Carlton branded apartment in New York. In the same city, couple Nick Jonas and Priyanka Chopra also own a luxury apartment Four Seasons or DJ Steve Aoki and singer-songwriter Ryan Tedder own Edition luxury property in West Hollywood. Each of these artists' deals costs tens of millions of dollars.
Branded apartment of Nick Jonas - member of the band Jonas Brothers in Downtown New York. Source: NYNesting
In Vietnam, this concept is quite new, but the Vbiz world has also quickly caught up with this trend. In May 2021, Dong Nhi and Mr. Cao Thang also showed off their possession of a JW Marriott branded apartment on social networks. This apartment costs up to 15,000 USD per m2, in a central project in District 1, Ho Chi Minh City. Recently, singer Ha Anh Tuan also confirmed the purchase of a Marriott penthouse at the same Grand Marina project. Rarely sharing information about his family background or wealth, the male singer attracts attention when he becomes part of Marriott's elite global resident community.
Perspective of the Grand Marina Saigon project - a luxury real estate project in Ho Chi Minh City.
Experts say that branded real estate is as attractive to artists as other branded goods. Not only affirming trendy taste and style, owning a brand name sometimes comes from the buyer's passion for the brand. With high-end brands with a long history such as Chanel, Dior in the fashion field, or Ferrari, Bugatti and Marriott supercars, Ritz-Carlton in the resort field, their customer portraits are created and publicized. received globally. Owning products of these brands is enough to impress and indirectly affirm the owner's style. For celebrities, style and taste are more important in the eyes of the public, so brands become familiar items in their collections.
With expensive prices, branded goods also show the status and success of the owner. The fact that stars in the entertainment industry buy branded goods is also how they are showing their upward steps in their careers.
In addition, branded real estate also brings the value of services and utilities that busy artists will need. For example, at Grand Marina, Saigon, Marriott's professional butlers can take care of the highest quality, from door-to-door delivery to À La Carte services such as air ticket booking, housekeeping, and housekeeping. children, even organize a party at home. If on tour, artists can rest assured that their home is well taken care of by a team of butlers.
5-star standard services and facilities are one of the attractions of luxury real estate. Photo: Live Branded
Sustainable asset value
Successful and wealthy people, including artists, have always considered real estate as an asset channel and branded real estate is chosen thanks to its prime location, outstanding design quality and maintenance. certified by a well-known brand.
Branded real estate is often located in the most prime locations in major cities, so the value of this type of property is expected to increase over time. According to Savills 2020 statistics, the price of global branded real estate is usually 31% higher than that of unbranded luxury real estate.
Last August, according to the South Florida Business Journal, a penthouse at The Ritz-Carlton Residences, Sunny Isles Beach changed hands after 4 months and almost doubled in value, from 15.83 million USD to 31 million USD – equivalent to a price of about 54,500 USD per m2 (1.2 billion VND per m2).
Property magnate Nick Candy recently sold his branded One Hyde Park apartment for £160m - a record for the price of a UK apartment.
Through nearly 100 years of development history, luxury real estate still asserts its value in the face of market events and crises. In 2020 and 2021, amid the economic uncertainties caused by the pandemic, more than 170 new luxury real estate projects are still in operation globally. The Ritz – Carlton Residences Singapore is a prime example when it launches at $32,000 per sqm in 2020 and is being sold at $41,000 – $58,000 per sqm.
With these advantages, luxury real estate around the world is continuing to attract high-class customers, including successful artists of the international and Vietnamese entertainment industry.