From the beginning of this year, investments in resort properties haveshown signs of revival after the market crash of 2008, and this led tohuge excitement among big developers.
Localities with richtourism potential are receiving massive investment inflows from realestate giants and witnessing vigorous changes.
However, thedifference this time, from what was witnessed before the 2008 bust whenmost such projects along the country's central coast were with foreigndevelopers, is that many beachfront resort projects are now in the handsof domestic developers who are becoming more active in the real estatemarket.
In recent years, big names including the VinGroup, FLC,the BIM Group, and the CEO Group in addition to the Sun Group havepoured a significant amount of funds into developing resorts in popularcities and provinces with tourism potential, such as Phu Quoc, NhaTrang, Da Nang and Vung Tau.
The investment wave was seen tosurge in the country's northern region in recent years with Quang Ninh,Hai Phong, Lao Cai and Thanh Hoa receiving huge investments forhigh-profile resorts.
What is remarkable is the rise in resortproperties in Ha Long, the city of Natural World Heritage in Quang Ninhprovince, where a number of large-scale luxury resorts were beingdeveloped.
Along with the economic recovery, beachfront villasand townhouses are becoming a source of investment opportunities for therich. The luxury resort property segment holds great potential giventhe new policy allowing foreigners to own houses from the beginning ofJuly. The new policy is expected to trigger foreign capital inflow intothe property market, especially in the high-end segment.
Statisticsfrom the Boston Consulting Group show that some three millionVietnamese are now in the middle-class bracket, and they are financiallycapable of buying coastal property costing between 250,000 USD and 2million USD per unit. The number of middle-class Vietnamese is expectedto rise to 33 million by 2020.
According to Wealth-X, ultra-richinvestors, not only from Asia but also Europe and North America, areshowing interest in high-end resort properties in Southeast Asia,including Vietnam, which has great potential in sea tourism, with acoastline of more than 3,200 kilometres and thousands of islands.
LeMinh Dung, Executive Director of BIM Group's property business, saidthe rapid economic growth and rise in the tourist value of Quang Ninhprovince has given a boost to the resort property market here and thegroup, grasping the opportunities, has released several luxurycommercial and resort property projects for sale in the past two years,including Little Vietnam and Van Lien (Lotus Residences).
Accordingto Nguyen Nam Son, CEO of Vietnam Capital Partner, the urge to buyresort properties will intensify in the coming years as rich familiesare now eyeing such properties to earn profits from leasing them out andusing them for their own relaxation by 2020.-VNA
Localities with richtourism potential are receiving massive investment inflows from realestate giants and witnessing vigorous changes.
However, thedifference this time, from what was witnessed before the 2008 bust whenmost such projects along the country's central coast were with foreigndevelopers, is that many beachfront resort projects are now in the handsof domestic developers who are becoming more active in the real estatemarket.
In recent years, big names including the VinGroup, FLC,the BIM Group, and the CEO Group in addition to the Sun Group havepoured a significant amount of funds into developing resorts in popularcities and provinces with tourism potential, such as Phu Quoc, NhaTrang, Da Nang and Vung Tau.
The investment wave was seen tosurge in the country's northern region in recent years with Quang Ninh,Hai Phong, Lao Cai and Thanh Hoa receiving huge investments forhigh-profile resorts.
What is remarkable is the rise in resortproperties in Ha Long, the city of Natural World Heritage in Quang Ninhprovince, where a number of large-scale luxury resorts were beingdeveloped.
Along with the economic recovery, beachfront villasand townhouses are becoming a source of investment opportunities for therich. The luxury resort property segment holds great potential giventhe new policy allowing foreigners to own houses from the beginning ofJuly. The new policy is expected to trigger foreign capital inflow intothe property market, especially in the high-end segment.
Statisticsfrom the Boston Consulting Group show that some three millionVietnamese are now in the middle-class bracket, and they are financiallycapable of buying coastal property costing between 250,000 USD and 2million USD per unit. The number of middle-class Vietnamese is expectedto rise to 33 million by 2020.
According to Wealth-X, ultra-richinvestors, not only from Asia but also Europe and North America, areshowing interest in high-end resort properties in Southeast Asia,including Vietnam, which has great potential in sea tourism, with acoastline of more than 3,200 kilometres and thousands of islands.
LeMinh Dung, Executive Director of BIM Group's property business, saidthe rapid economic growth and rise in the tourist value of Quang Ninhprovince has given a boost to the resort property market here and thegroup, grasping the opportunities, has released several luxurycommercial and resort property projects for sale in the past two years,including Little Vietnam and Van Lien (Lotus Residences).
Accordingto Nguyen Nam Son, CEO of Vietnam Capital Partner, the urge to buyresort properties will intensify in the coming years as rich familiesare now eyeing such properties to earn profits from leasing them out andusing them for their own relaxation by 2020.-VNA
