DNVN - According to New World Wealth Company and investment migration advisory firm Henley & Partners, from 2013 to the end of 2023, the number of millionaires in Vietnam increased by 98%, reaching 19,400 people. The rapid increase in the rich gives Vietnam many advantages to develop branded real estate.
Savills said that the Asia- Pacific region (APAC) has become one of the global hotspots for branded real estate, accounting for 23% of the world's total supply. Since the first branded real estate project was launched in 1988, the region has witnessed remarkable growth, especially in the last decade.
As of mid-2023, more than 150 branded real estate projects have been completed in CA - TBD and more than 150 projects are in the implementation stage. This growth not only meets historical trends but also shows the strong development potential of the branded real estate segment, with the total number of projects increasing by more than 160% over the past 10 years.
Branded real estate in CA - TBD is not only popular in resorts but is also spreading to big cities, which are considered the main residence for the super-rich. Phuket (Thailand) - one of the leading locations in the region, owns the highest number of completed projects and is expected to reach more than 40 projects by 2030.
In addition to Phuket, other cities such as Da Nang (Vietnam), Bangkok (Thailand), Kuala Lumpur (Malaysia) and Manila (Philippines) are also emerging as key markets for branded real estate. This diversity in locations increases the appeal of branded real estate, making this type of real estate particularly appealing to both domestic and international buyers.
Mr. Matthew Powell - Director of Savills Hanoi commented that Vietnam currently holds many advantages to develop branded real estate, especially in coastal areas. The growing economy along with the increase of the upper class has created favorable conditions for this development.
“According to New World Wealth and investment migration advisory firm Henley & Partners, the number of millionaires in Vietnam increased by 98% from 2013 to the end of 2023, reaching 19,400 people. The rapid increase in the number of wealthy people in Vietnam has fueled the trend of owning a “second home”.
They often invest in high-end resort projects, both to enjoy and to make a profit through rental trust programs when not in use," said Mr. Matthew Powell.
Notably, major cities such as Da Nang, Hanoi and Ho Chi Minh City are gradually becoming attractive destinations for branded real estate projects. Typically, in Hoi An, 5 branded real estate projects have been completed. With more than 10 projects under development, Hoi An promises to continue to be in the top of the regional market in terms of the number and scale of projects in the near future.
Mr. Matthew Powell further explained that Vietnam not only possesses rich natural landscapes, but also has a pleasant tropical climate all year round. These are key factors that luxury real estate investors consider when looking for locations to develop projects.
The combination of rich natural beauty with sophisticated architecture and high-class management services not only enhances value but also creates sustainable attraction for branded real estate projects in Vietnam.
However, this market still has many challenges to overcome, including challenges related to legal regulations, administrative procedures and competition from other regional markets.
Ha Anh
Source: https://doanhnghiepvn.vn/kinh-te/bat-dong-san/so-trieu-phu-nguoi-viet-tang-98-trong-hon-10-nam-qua/20240816044712080
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