Destinations like Phu Quoc, Nha Trang, Phan Thiet, and Vung Tau are beloved holiday spots and emerging hubs for property investment and hospitality ventures. This article delves into the growing interest in buying property in these idyllic locales, their investment potential, and the dynamic growth of Viet Nam’s hospitality market.
For those seeking a lifestyle change or lucrative investment opportunities, Viet Nam’s coastline offers a compelling proposition. With a tropical climate boasting warm temperatures year-round, Viet Nam guarantees an extended summer season. This supports year-round tourism activities and significant demand for coastal holiday properties.
BEACH LIFESTYLE
Coastal holiday destinations are increasingly popular, especially for second homes. Lifestyle considerations play a significant role as individuals seek to escape the hustle and bustle of urban life and embrace a slower, more relaxed pace in serene surroundings.
Given Viet Nam’s road and air links, coastal properties are often only a few hours from major cities like Ho Chi Minh City and Ha Noi. Developers are speaking to demand, and reality in coastal destinations is dynamic.
Viet Nam’s diverse coastline caters to a range of preferences. From the world-famous Nha Trang, with its pristine white sand and turquoise waters, to the laid-back charm of Phu Quoc Island, Viet Nam offers something for everyone. Investors can choose from various properties, including luxury villas, beachfront condos, and branded residents.
According to Jelena Cvjetkovic, Director at Savills Global Residential, the pandemic has fundamentally reshaped the second-home market. She said, “People are prioritising wellness and a more active lifestyle. Combined with the rise of hybrid work models, buyers are seeking homes that offer not just a vacation escape, but a true second residence with strong wellness features and reliable internet connectivity.”
This newfound flexibility allows owners to utilise their second homes year-round, transforming them from purely seasonal retreats into genuine hybrid living spaces. This trend encourages a more balanced lifestyle, dividing time between the city and a tranquil escape, be it rural, coastal, or mountainous.
To accommodate this shift, must offer the functionality of primary residences. Generous indoor and outdoor living spaces are essential. Excellent air quality and opportunities for an active lifestyle further enhance the appeal.
HIGH-END BEACHSIDE PROPERTY MARKET
The hospitality market in Viet Nam is experiencing exponential growth, driven by domestic and international tourism. Major hotel chains are expanding their presence in the country, capitalising on the burgeoning demand for upscale accommodation and experiential stays.
According to Savills Hotels, hotel brands have expanded in Viet Nam in recent years. Viet Nam had less than 50 branded hotels in 2013, but there are more than 200 today. Iconic brands such as Marriott, Hilton, Hyatt and InterContinental are establishing a strong foothold in key tourist destinations, offering diverse products ranging from luxury resorts to boutique hotels.
Furthermore, branded residences are gaining traction in Viet Nam, with renowned hospitality brands collaborating with property developers to create integrated lifestyle communities. These branded properties offer premium amenities and services and provide buyers with the assurance of quality and prestige associated with the brand.
Apart from the well-known tourist hotspots, some emerging destinations have been carefully planned with a focus on sustainable development and good connectivity to major cities, such as Ho Tram, Ninh Van Bay, and Con Dao. These destinations are attracting high-quality investments and luxury hotel brands, providing more international standard options for buyers.
The government has implemented various policies to boost foreign investment in the tourism sector. This, in turn, has created a favourable environment for property ownership, with simplified procedures and tax benefits for investors. On the other hand, Viet Nam has emerged as one of the leading countries in Asia, allocating 5.7% of its GDP towards infrastructure development projects.
INVEST IN PARADISE
Investing in Vietnamese beach properties is a fantastic opportunity to enjoy a unique and luxurious lifestyle. Imagine waking up every morning to the sound of gentle waves, spending your days exploring secluded beaches, and dining on delicious cuisine under a starry sky.
If you are considering investing in Vietnamese coastal property, here are a few tips:
- Conduct comprehensive research on the specific location and property type to make an informed decision.
- Seek advice from reliable legal and financial professionals to ensure your investment is secure and profitable.
- Understand the legalities of foreign ownership in Viet Nam, and work with professionals who can help you navigate the process.
- Partner with a trustworthy local real estate agent who can provide valuable insights into the local market and help you find the perfect property.
Viet Nam boasts magnificent beaches and a favourable investment climate. With the right approach, investing in Vietnamese beach properties can be highly rewarding.
CONCLUSION
Viet Nam’s coastal properties present lucrative opportunities for investors to generate a healthy rental income or capitalise on future property appreciation.
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