New investment wave of second-home market in Vietnam

Second-home purchasing has become a new investment wave on Vietnam’s property market as new signs of life in the global economy herald forthcoming growth, said CB Richard Ellis International Property Consultancy Co. in a press release on July 9.

Real estate developers have seen potential opportunities in an emerging market like Vietnam and they are paying great attention to the second-home market, which might be part of a hotel, resort, or a golf club in a beachfront resort or in the mountains, CBRE said.

The Vietnamese property market has received a significant amount of good news as investment has been poured into tourism and tourism infrastructure over the past two years, it said.

CBRE estimated that there will be more than 5,000 new villas and condos in northern Vietnam in the next two or three years.

First and foremost among such projects is the Long Chau Villas and Residences developed by Ha Long T & H JSC Co. This is a villa community project consisting of 700 units on Tuan Chau Island in Halong City being developed on a total land area of 338, 45 ha. The scheme encompasses an 18-hole golf course, cruiser pier, and villas with a total investment of US$330 million.

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