Vietnam is emerging as a potential luxury real estate market in the world, attracting many international brands in projects in Ho Chi Minh City and Hanoi.
Branded real estate in Vietnam is growing impressively
The latest research results of Savills show that Vietnam is in the top 10 fastest growing luxury real estate markets in the world. The supply of luxury real estate here increased by 11% on average from 2017. As of Q1.2021, Vietnam had 24 luxury real estate projects with more than 2,200 apartments, mainly in resort locations. At the seaside.
According to Matthew Powell, Director of Savills Hanoi, real estate is the field least affected by the Covid-19 pandemic and the number of real estate buyers is expected to increase in the near future. Particularly for luxury real estate, in addition to leading markets in the world such as Dubai, Miami, and New York, many markets are developing very quickly in the number of projects such as the UK, Egypt, Malaysia, Australia, and Morocco. , and Vietnam is also listed in this group.
Mr. Troy Griffiths, Deputy General Director of Savills Vietnam also said that the demand for Vietnamese people to buy luxury real estate is still quite large. Moreover, the selling price of this type of real estate in Vietnam is quite cheap compared to other countries in the region.
Attractive interest rates are also one of the factors that attract the rich in Vietnam to buy luxury apartments. Up to 65% of people buy apartments for the purpose of long-term investment, Mr. Troy cited. Moreover, luxury real estate in Vietnam is expected to attract customers in the near future because the supply is quite limited while the demand is increasing.
Vietnam – Top 3 in Asia in terms of number of new projects
According to a survey by C9 Hotelworks, Asia accounts for 23% of the number of branded real estate projects being formed globally. Thailand leads the continent with 30 projects and Vietnam is the third largest market.
Although officially appeared in Vietnam many years ago, this type of super luxury apartment is developed under the cooperation of a reputable real estate developer. prestige and a new prestigious hotel brand are noticed in the first half of 2021, when Masterise Group ( Masterise Homes ) launched the first luxury urban real estate project in Vietnam – Grand Marina project, Saigon.
After sales in Hong Kong and Vietnam, branded housing has received great attention from the market with many successful transactions. Mr. Troy Griffiths said that the target customers of this segment are the domestic rich class and foreign investors, mainly from China, Hong Kong, Taiwan and South Korea.
Branded houses "migrate" to urban areas
While Vietnam is being considered as one of the fastest growing luxury real estate markets in the world, the projects recorded are mainly located in coastal resort localities such as Phu Quoc, Da Nang, Nha Trang, etc. Pages etc. The appearance of the Grand Marina and Saigon projects in Ho Chi Minh City is gradually bringing Vietnam into line with the shifting trend of luxury real estate into urban areas in the world.
“When it comes to luxury real estate, most people think of properties in resorts, but in fact more than 60% of the world's luxury real estate projects are concentrated in big cities. ” said Mr. Matthew Powell. This trend will become more apparent in the next few years as this property type demonstrates the outstanding quality, luxury and service proven by the world's leading hotel brands.
According to Mr. Powell, most Vietnamese customers will not be able to buy branded apartments because the price of this type of super-premium real estate is quite high. However, when compared to other countries in the world, the price of luxury apartments in Vietnam is really competitive.
The image of the model apartment belongs to the Legacy collection (JW Marriott brand) of Grand Marina
The trend of moving into urban areas of branded housing projects is expected to continue in Vietnam, especially projects with prime locations in Vietnam. big cities. Besides Grand Marina, Saigon, The Grand Hanoi project is at corner of Hang Bai – Hai Ba Trung intersection and project One Central Saigon opposite Ben Thanh Market, District 1, Ho Chi Minh City is the clearest evidence for the trend of moving into urban areas of luxury real estate.
According to research, these new projects will mark the entry of another high-end international brand into Vietnam, demonstrating the strong attraction of the luxury real estate segment in particular and the Vietnamese market. Generally speaking. The strong growth rate of this model in Vietnam also shows the confidence of international brands in the recovery and economic development of our country despite the effects of the pandemic.
The housing project with the brand has proven attractive to the rich Vietnamese, because it is a proof of personal success. In addition, foreign investors' interest in luxury real estate projects is increasing, partly due to the inherent brand preference. These will be the driving forces that continue to promote the strong rise of luxury real estate in Vietnam in the future.
Contact Grand Marina, Saigon:
Hotline/Zalo: 0911 525 454
Project website: https://masterisesaigon.com/