Vietnam’s Luxury Real Estate Market on the Rise
Vietnam’s luxury real estate market is poised for significant growth, with projections indicating a substantial increase from $4.14 billion in 2025 to $7.84 billion by 2030. Fueling this surge is a 13.65% compound annual growth rate, driven by a steady uptick in high-net-worth individuals (HNWIs) at a rate of 12% per year. The growth in HNWIs has surged by over 9% in 2023 alone, sparking a heightened demand for upscale properties in the region.
Masterise Homes, a prominent Vietnamese real estate developer, recently made a strategic move by listing its branded residences on Christie’s International Real Estate, a renowned platform for luxury properties. This milestone achievement was made possible through a partnership with S&S Christie’s International Real Estate, the official representative of Christie’s International Real Estate in Vietnam, in collaboration with S&S Group, a conglomerate boasting over a decade of expertise in the ultra-luxury sector.
Vietnam’s Booming Luxury Real Estate Sector
A recent report from Knight Frank sheds light on the rapid expansion of Vietnam’s luxury real estate sector, propelled by the increasing number of affluent individuals and robust economic growth in the country. The International Monetary Fund (IMF) has forecasted a 6.5% GDP growth for Vietnam in 2025, contributing to the growing population of HNWIs. Annually, HNWIs are on the rise by 12%, while ultra-high-net-worth individuals (UHNWIs) have seen a 2.4% increase in 2023.
Projections from Knight Frank suggest that this trend will persist, with UHNWIs expected to climb by 30% from 2023 to 2028, averaging around 6% annual growth. This surge in wealth, coupled with Vietnam’s robust economy, has led to a surge in demand for premium properties. By 2023, Vietnam had attracted a burgeoning expatriate community, with an estimated 100,000 expatriates residing and working in the country. This growing demographic has further fueled the demand for high-end residential developments, particularly in key urban centers such as Ho Chi Minh City and Hanoi.
In addition to its economic prosperity, Vietnam offers exceptional value in the luxury real estate market, with prices for luxury residences averaging 30-40% lower than those in neighboring countries like Thailand and Singapore. This competitive pricing has made Vietnam an appealing choice for affluent buyers seeking investment opportunities. Capital appreciation rates in the region are substantial, ranging from 10-15% annually, further enhancing the allure of investing in Vietnam’s luxury real estate market.
Masterise Homes and Christie’s International Real Estate: A Prestigious Alliance
Masterise Homes’ collaboration with S&S Christie’s International Real Estate marks a significant milestone in Vietnam’s real estate landscape. S&S CIRE, known for representing some of the world’s most exclusive properties, now features key projects from Masterise Homes in its global network. These projects include Grand Marina Saigon, the world’s largest Marriott-branded residential project; the Rivus, Asia’s first riverfront ELIE SAAB-branded villas; and SOHO, a vibrant townhouse zone within The Global City, one of Masterise Homes’ flagship projects.
Tu Le, Chief Operation Officer at S&S Group, underscored the rigorous selection process for properties listed by S&S CIRE in Vietnam, emphasizing the criteria of luxury, uniqueness, and rarity. The selection process adheres to global standards for property evaluation and appraisal, aligning with S&S Group’s commitment to excellence and brand distinction.
Nguyen Thi Minh Phuong, Chief of Business Development (South Region) at Masterise Homes, expressed optimism about the partnership’s long-term potential, citing Vietnam’s rapid economic growth and stable outlook as key factors contributing to the sustainable value and competitive edge of their properties. Partnering with a globally recognized brand like S&S Christie’s International Real Estate reaffirms Masterise Homes’ expertise, quality, and competitiveness on the international luxury real estate stage.
Opportunities Ahead for Vietnam’s Real Estate Market
The partnership between Masterise Homes and Christie’s International Real Estate is poised to enhance the competitiveness and appeal of Vietnam’s luxury real estate market on the global stage, positioning the country as a coveted destination for elite property ownership. This collaboration will also serve to educate the local audience on the value of branded residences, recognized internationally as assets with sustainable value and exceptional quality.
Vietnam’s luxury real estate market continues to experience robust growth, with landmark projects like the JW Marriott branded residences at Grand Marina Saigon leading the way. The recent opening of JW Marriott Residences Grand Marina Saigon showcased a blend of Masterise Homes’ development expertise and Marriott International’s renowned hospitality leadership, setting a new benchmark for luxury residential real estate in the country.
John Hearns, Senior Vice President of Global Residential Operations at Marriott International, emphasized the project’s alignment with international standards and local preferences, elevating the luxury real estate landscape in Vietnam and enhancing the city’s global appeal as a hub for high-end living.
The rapid urbanization and increasing sophistication of urban populations across Asia are driving the demand for exclusive residences that offer premium services and amenities. Leveraging Marriott’s diverse portfolio of world-class brands positions the company to meet the growing demand for urban branded residences, underscoring the potential for continued growth in Vietnam’s luxury real estate sector.
Looking ahead, the partnership between Masterise Homes and Christie’s International Real Estate lays a solid foundation for the continued expansion of Vietnam’s luxury real estate market. Foreign investors, coupled with a rising interest in branded residences, position Vietnam as a prime location for luxury property investment. The collaboration aims to accelerate Vietnam’s real estate evolution, aligning it with the standards and pace of mature global markets, solidifying the country’s status as a premier destination for elite property ownership.
About the author: Katrina Thompson is a Hong Kong-based freelance writer with a strong background in luxury business. She covers news on business, real estate, and luxury business across Asia.
