TABLE OF CONTENTS
(Vietnamese version available)
When one home is not enough
Wanting to have a place other than their home to rest, relax and spend time on oneself has brought the trend second home to the throne and develop as a tendency of owning property among the majority of members of the upper class. In the UK, the number of households owning second homes is up to 600,000 and in China, 15% of families living in big cities have second homes.
The tendency of owning a resort second home has been present in the world for a long time, especially for the beach villa segment. The super-rich class including billionaires and celebrities such as Miranda Kerr and The British Princess Diana to name but a few prefer to choose beach villas on private and quiet islands as places to spend their vacation.
People are falling into a state of anxiety for the safety of their health, especially after the COVID 19 pandemic. Following the hasty pace of the industrialized life, people accept to live in a polluted environment and crowded land, day by day coping with many factors that directly have negative effects on health.
Moreover, the social distance period has shifted the previous working habits of people from coming to work towards utilizing the ability to work remotely (work from home), in order to save time and create a sense of active and comfortable work. Therefore, an ideal second home should be that away from the noisy, polluted city center so that the owner can work and relax at the same time to reduce pressure and tension.
Vietnam is among the top growing economies in the world thanks to the significant contribution of private consumption from the upper middle income class. Annually, on average, there are about 1 million more people joining the middle class. According to a report from The Wealth of Knight Frank, “the number of people with assets over $ 30 million – Vietnam’s super-rich class in the period 2006 – 2016 increased the fastest in the world at a rate of 320%” and this number is anticipated to increase continuously in the future. In addition, according to Boston Consulting Group, the ability to convert economic prosperity into the quality of life of Vietnamese people is quite high, which means that most high-income people prefer enjoying their life as soon as possible.
According to the Telegraph daily newspaper of the United Kingdom, Vietnam ranked among the top 20 fastest growing resort second home markets in the world. Therefore, the name “resort second home” will quickly become a tendency that many people consider as a “safe” investment in Vietnam.
Recently, this tendency has become popular evenamong the upper middle class. More medium price, 10 billion VND or less, product lines are launched to please the demand of most customers from HENRY – High Earn But Not Rich Yet group, which are more appropriate and reasonable to their needs than the luxury villa segment.
Reasons make second home in Vietnam a “safe” investment
After the success in controlling the COVID 19, Vietnam has become a safe place to live in the point of view of expatriates and foreigners and welcomed foreign investment into the market. This leads to a prediction that a source of profits generated from real estate investment in Vietnam will increase very quickly in the future. Therefore, a “safe” second home will be where they find assurance through many benefits it offers, including the ability to stay, to invest for profits generation through passive income or just to be a place for social distance.
Many well-known picturesque tourist attractions are what make Vietnam so appealing to both domestic and foreign tourists. Da Nang – one of the most beautiful beaches on the planet, honored to rank 15th of the 52 most worthwhile destinations of 2019 by the New York Times magazine. Those who want to own a second home by the blue sea, on the white sand, under the sunshine to be immersed in nature and a green living space for resting and health care purposes, Da Nang is a perfect suggestion. It is also revealed that the resort real estate market in Da Nang will imminently bring along huge surprises.
The resort real estate market in Da Nang is supposed to reveal many more astonishing breakthroughs in the upcoming time.
Contact us to receive consultancy regarding a perfect investment in your future second home:
Ms. TRACY VU