Bloomberg expects Vietnam to be growth hotspot for branded real estate in Asia

[ASEAN NOW News]

Hanoi (VNA) – The Bloomberg network in the States,  has hailed Vietnam as a growth hotspot for branded residences in Asia.

 

Ritz Carlton project in Hanoi (file photo)

The newswire said Vietnam’s number of high and ultra-high network individuals have increased impressively over the past five years.

 

Most amassing over 1 million USD and 30 million USD accounting for 26 percent and 108 percent, respectively.

Class Statement

 

Therefore, owning a branded apartment is considered a “testament” to their class, apart from the purpose of living and pure investment.

 

The growth arose from Vietnam’s impressive economic growth.

 

In 2019, Bloomberg said Vietnam was one of the fastest growing economies globally with a growth of over 6 percent in 20 consecutive years.

The South China Morning Post also agreed that Vietnam’s property sector has been increasingly favoured by international investors because of its stellar economic growth.

 

The US-based hotel operator Marriott International is also making a foray into Vietnam’s branded residence segment.

 

Grand Marina Saigon (file photo)

In early 2021, Marriott International announced the first branded residence project in Vietnam – Grand Marina Saigon in District 1, Ho Chi Minh City. It also plans to embark on another branded Ritz-Carlton in downtown Hanoi in late 2023. VNA