The biggest cities in Vietnam are now flush with multi-million dollar luxury apartments built with the latest high-end features Photo: Le Toan Luxury real estate in Vietnam is heating up, luring buyers in with so-called “sky mansions” at a fraction of what their cost would be in the likes of New York City or Hong Kong. According to Bloomberg, Vietnam is experiencing a surge in luxury developments thanks to a booming economy and laws making it easier for foreign buyers to purchase property. While still a developing country, the number of Vietnamese high-net-worth individuals (HNWI) has increased significantly over the last 10 years. With a new supply of luxury high building properties being limited across the city, Bloomberg expects pricing in general to remain strong and units to be quickly absorbed for well-located projects. According to List Sotheby’s International Realty in Singapore, currently one of the fastest-growing economies in the world, … [Read more...] about Luxury property concepts on the rise
A tourist stands by the rooftop swimming pool at the Gran Hotel Manzana in Havana -- one of many luxury properties attracting tourists in Cuba AFP/Yamil LAGE In Havana, there's a shop selling a camera for more than US$25,000 (S$34,000) – roughly 850 times the average monthly wage in Cuba. The eye-popping sum earned predictable scorn on social media, but it begins to make sense when seen through the lens of the island's fledgling bid to tap into the luxury tourism market. The exclusive camera store and other boutiques featuring A-list brands like Versace and Armani are located in a shopping gallery on the ground floor of the swanky Gran Hotel Manzana. The mere existence of the shops certainly seems incongruous in a country that has been governed as a one-party communist state since 1959, and where the average wage is US$30 a month. But the hotel isn't exactly looking for locals to buy in – it attracts "a clientele of private airplanes ... princes and celebrities," … [Read more...] about Cuba taps into high end luxury tourist market
The Hanoitimes - In a world where home prices are looking precarious from London to Hong Kong, Sydney and New York, it makes Vietnam an attractive location. Hanoi, HCMC, Danang stir Vietnam real estate market with lots of exciting activities Mid-end segment, cleared land: focus of Hanoi’s real estate market in 2019 Property investment lending in Vietnam set to be tightened from 2019 Hanoi ranks 3rd most global dynamic real estate city: JLL Vietnam property inventories plunge to US$992 million as of end-2018 Vietnam’s status as one of the fastest-growing economies has spurred overseas investors to target the nation’s real estate, alongside a rapidly growing cohort of well-heeled domestic buyers, eager to put hard currency into property, Bloomberg reported. In a world where home prices are looking precarious from London to Hong Kong, Sydney and New York, it makes Vietnam an attractive location. Vietnam is where southern China was 10 or 15 years ago, … [Read more...] about Vietnam emerged as hot new market for luxury property: Bloomberg
Who are the owners of luxury apartments in District 1? A view of The Grand Manhattan, a luxury apartment project in downtown HCMC The just-launched Grand Manhattan has become the center of splendor due to its luxury apartments being located in downtown HCMC, which are not easy to own. From international investors Elena Goh, a Singaporean real estate investor, is one of the first owners of apartments at The Grand Manhattan, “HCMC is a market my husband has eyed for ages. So we decided to purchase apartments as soon as the project was introduced to the market. Compared with other property markets which I have invested into such as Hong Kong, apartments in HCMC have a much lower price and profit margins reach 4%-5%, compared to Hong Kong’s 1%-2%.” As an experienced real estate investor, Elena Goh said, “In Hong Kong and Singapore, profit growth of luxury properties tend to be stable. I believe that profits from real estate projects in HCMC, which is an … [Read more...] about Who are the owners of luxury apartments in District 1?
La Veranda Phu Quoc wins Best Luxury Boutique Spa Resort WorldwideThe Saigon Times Daily Embraced by tropical gardens on a beautiful stretch of beach, La Veranda Resort Phu Quoc boasts large terraces with sweeping views ideal for honeymoons, spa vacations or family holidays - PHOTO: COURTESY OF LA VERANDA RESORT PHU QUOC HCMC - La Veranda Resort Phu Quoc - MGallery by Sofitel has won the “Best Luxury Boutique Spa Resort Worldwide” at the 2018 Hotel of the Year Awards. The resort also took the No. 18 spot among the Top 100 Resorts Worldwide 2018, a list published during the announcement of winning properties. “Being named as the Best Luxury Boutique Spa Resort Worldwide is a true source of pride for the entire team at La Veranda Resort Phu Quoc. It proves that the spa experiences we create and the memorable storytelling we weave for our valuable guests over the past ten years has helped place us as an undisputed market leader in the boutique category,” … [Read more...] about La Veranda Phu Quoc wins Best Luxury Boutique Spa Resort Worldwide