Vietnam: The Next Frontier in Asia’s Luxury Real Estate Market

Activity in the luxury real estate market is surging in Vietnam, mirroring a booming economy that posted a 7.38% year-over-year increase in GDP in the first quarter of 2018—the country’s strongest in a decade. In Hanoi, plots in Starlake City, a multimillion-dollar planned community of luxurious villas and landed homes featuring a lake, international schools and office towers, sold out in a matter of days. In Ho Chi Minh City, luxury real estate developers are upping their game with projects like the Serenity Sky Villas, featuring penthouses asking 60.84 billion Vietnamese dong (US$2.64 million), with private elevators, designer lighting and furnishings—each with its own swimming pool on the balcony. Nearby, the premium tower of the Feliz en Vista residences—a 34-floor mix of garden villas, penthouse duplexes and sky mansions—boasts five-star facilities such as a VIP lounge, cigar bar, saltwater swimming pools, hot spring Jacuzzis, outdoor movie theaters and a treetop adventure walk bridge.