There is significant potential in branded residences, which are increasing in number not only in holiday destinations but also in urban centers such as Ho Chi Minh City.
Branded apartments with world-class products, services, and travel experiences are receiving significant attention from Vietnam’s wealthy. The number of super-rich people in the country has increased sharply in recent times, ranking it in the top 5 Asian countries in terms of people owning assets of more than $1 million. This is the main customer group of the luxury real estate segment.
Investors are returning to Vietnam’s resort real estate market to take advantage of opportunities as supply increases and especially on Phu Quoc Island, which is preparing to pilot welcoming international visitors from November 20.
According to industry experts, luxury apartments will continue to be a segment of potential in Vietnam’s real estate market. Given the impact of Covid-19, living spaces with low apartment density, focusing on the safety of residents, have become greatly appreciated. Luxury real estate also has sustainable added value. In terms of reselling, properties with commercial centers and shophouses will fare better than other products. Luxury apartments in key locations with privacy and full amenities are also favored by Vietnam’s middle class.
