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Vietnam’s 400-year-old town rated among world’s 15 best tourism cities

By | Vietnam Express | No Comments
U.S. travel site Travel + Leisure names Hoi An in list of tourism cities around the world to explore this year.

Hoi An, 30 kilometers south of Da Nang, has won much love among global travelers after becoming a familiar name in global rankings by respected international travel magazines.

For a second year in a row the ancient town has made it to the list of 15 best tourism cities on earth based on a vote by readers of the New York-based Travel + Leisure.

From being a small rural village, Hoi An catapulted to global fame as the top travel destination in Southeast Asia because of some unique distinctions, which have repeatedly been hailed year after year.

Its slow pace and tranquil atmosphere, difficult to find elsewhere, make it stand out from other places in the country.

Hoi An came eighth in the list, down one spot from last year, while San Miguel de Allende in Mexico reigned supreme for a second consecutive year.

Thailand’s Chiang Mai, Kyoto in Japan and Ubud in Indonesia are three other Southeast Asian cities that appeared in the list.

Every year, for its World’s Best Awards survey, Travel + Leisure asks its readers to weigh in with travel experiences around the globe and share their opinions on the top cities, islands, cruise ships, spas, airlines, and others.

Readers rate cities based on their sights and landmarks, culture, cuisine, friendliness, shopping, and overall value.

U.S. news network CNN recently listed Hoi An as one of the 16 best places in the world to relax and de-stress.

Hoi An ranked second in a list of the 10 safest and most exciting places on this earth for solo travelers compiled by travel editors at Momondo, a U.K.-based travel site.

The World’s top 15 tourism cities, according to Travel + Leisure:

1. San Miguel de Allende, Mexico

2. Oaxaca, Mexico

3. Udaipur, India

4. Ubud, Indonesia

5. Kyoto, Japan

6. Florence, Italy

7. Luang Prabang, Laos

8. Hoi An, Vietnam

9. Chiang Mai, Thailand

10. Charleston, South Carolina

11. Mexico City

12. Cape Town, South Africa

13. Rome, Italy

14. Istanbul, Turkey

15. Beirut, Lebanon

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

By | Mansion Global | No Comments
Coastal cities, wealth growth lead surge in new developments, price increases

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.

“For the last three or four years, we’ve seen an increase in development activity, with new launches in the premium and luxury end of the market,” said Stephen Wyatt, head of Jones Lang LaSalle, or JLL, Vietnam. He points out that a change in foreign ownership legislation in 2015 gave international buyers the ability to acquire a long-term lease and buy property in Vietnam more easily. Now, foreigners are allowed to buy for a renewable term of 50 years, and for reasons other than personal use. In addition, developers can sell up to 30% of units in a condominium building and 10% of landed property in a residential compound to foreigners. Before, the allowance was a single unit.

In addition to the major cities of Hanoi and Ho Chi Minh City, luxury real estate activity is heating up in the coastal cities of Danang and Nha Trang, beach towns like Ho Tram, as well as Phu Quoc island.

“It’s an emerging market for luxury real estate, but it has a young, dynamic entrepreneurial population of 95 million whose wealth is growing rapidly,” Mr. Wyatt said. In fact, the country’s “middle and affluent class” is expected to double by 2020, according to The Boston Consulting Group, which will create additional demand for resale and leasing.

This has not gone unnoticed by investors. May was an especially big month for the Ho Chi Minh City Stock Exchange. Vinhomes, the largest residential property developer in Vietnam, raised VND 31.1 trillion (US$1.35 billion) in an initial equity offering—the largest the country has ever seen.

Vinhomes, which owns approximately half of the country’s high-end luxury condos, noted in a statement that the volume of its contracted sales is expected to reach VND 105 trillion (US$4.6 billion) by the end of this year, and jump again to VND 175.2 trillion (US$$7.6 billion) in 2019. Indeed, a recent Savills report revealed a 9% annual increase in apartment prices from 2013 to 2017, with average prices across the broader market expected to continue rising.

Some of the grand Vinhomes developments in progress include the Berjaya Vietnam Financial Center, a mixed-use project in Ho Chi Minh City comprising of a premium office building, five-star hotel, serviced residences, and a shopping mall across 16.4 acres.

A Perfect Storm for Developers

According to Matthew Powell, director of Savills Hanoi (which manages roughly 10,000 units in the capital city), more developers are actively trying to enter the high-end property market in the country.

Better still, “significant” demand is attracting developers, both domestic and international, Mr. Powell said.

Helping the cause is the fact that they benefit from regulations that leave them less dependent on loans. In Vietnam, property can be pre-sold once the foundations—like infrastructure, street lights and landscaping—are completed.

Despite the country’s status as an emerging market, the standards and expectations for luxury real estate are quickly improving as developers adjust, learn and adapt to international tastes.

High-caliber property design and services are “already here and quickly improving,” Mr. Powell said, with a rise in concierge-type property management and resort-like communities with grand amenities. “They skipped the awkward part and went straight to the top end of the scale.”

A Value-Add for Buyers and Investors

Sunny Hoang, associate director of International Residential Sales at Savills in Ho Chi Minh City, attributes skyrocketing demand to a low price point for luxury, as compared to other Southeast Asian cities like Bangkok and Singapore, where premium apartments cost significantly more.

In Ho Chi Minh City, it can cost upward of VND115.3 million per square meter (US$5,000) for a luxury apartment close to vibrant city life and within a central business district, but elsewhere in Asia, like Hong Kong, it costs four times more.

Domestic demand drives the majority of the market, but for real-estate buyers in Taiwan, Hong Kong, Korea and China who are keen on premium product, Vietnam is emerging as a better destination than in their own countries. “We’re seeing a lot of demand for luxury—higher than supply—so the next three to five years should be very good compared to other countries in Asia,” Ms. Hoang says.

For investors, the return on investment is equally attractive. Because luxury apartments are in very limited supply, they correspond with higher capital returns, which have been increasing by double digits annually. She adds that opportunities are particularly good in District 1, Ho Chi Minh City’s central business district, and at properties with views of the Saigon River or close to the forthcoming metro public transit line, expected to be completed in 2022.

The Rise of Coastal Homes

A tourism boom in coastal Vietnam is another contributor to the rise of Vietnam’s luxury residential market. Danang, along with other coastal cities like Phu Quoc, Ho Tram and Quang Nam, are experiencing a growing market for vacation and second homes, due to world-class golf courses, tourist hotspots and a solid infrastructure. For instance, hilltop three-bedroom villas at the Banyan Tree Lang Co Residences, which cost VND29.5 billion (US$1.28 million) and are within striking distance of the Danang airport, boast panoramic ocean views and a private pool, and are decorated with locally inspired furnishings.

“High-end coastal properties began springing up in 2006,” said David Blackhall, managing director of Real Estate at Vinacapital. “We invested in development around golf courses and coasts, and we thought we’d be selling a lot of product to foreigners, but more than 90% have been to Vietnamese buyers because they have an affinity with owning real estate and now have access to modern, well-designed, top-end residential products.”

Mr. Blackhall noted that certain regulations on foreign ownership, particularly when it comes to reselling property, are still unclear, but the number of overseas buyers should continue to grow over the next decade as mass transit systems in Hanoi and Ho Chi Minh City, and new airports in Phu Quoc and Danang, are completed.

“If you look at Vietnam from a geographical perspective, it’s in the center of Southeast Asia, there are lots of recreational opportunities like golf courses and casinos under development, as well as an enormously long coastline—and coastline views sell,” he says.

Outlook: Significant Growth

As the economy continues to grow, developers anticipate more expats seeking high-quality housing, and to close that gap, are launching more luxury projects to match the expectations of foreign buyers and investors.

In fact, CBRE, the world’s largest commercial real estate services and investment firm, reported that the total supply of luxury apartments for sale in Ho Chi Minh City sits at approximately 4,000 units. Meanwhile, the population of the largest city in the country is pushing past 10 million.

The upward trend is already visible in the improved quality of new launches and rapidly increasing property prices, with square-foot prices in central business district areas approaching VND 12.84 million (US$557), up from an average of VND 9.64 million (US$418) just two years ago.

“Vietnam is still behind Bangkok and tier two and three cities in China, but the general feeling is it will catch up within the next five or 10 years,” Mr. Wyatt said, adding that JLL forecasts up to 10% annual growth in residential real estate values in major cities this year, with more gains on the way.

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Savills phân phối độc quyền biệt thự nghỉ dưỡng X2 Hội An

By | Dau Tu Chung Khoan | No Comments
(ĐTCK) Ngày 12/7, chủ đầu tư Mỹ Việt, nhà phát triển dự án IXORA đã tổ chức ký hợp đồng phân phối độc quyền với Savills Việt Nam và chính thức ra mắt Dự án X2 Hội An- Khách sạn và biệt thự ven sông có quy mô 7 ha tọa lạc trên dải bờ sông Cổ Cò thuộc huyện Điện Bàn tỉnh Quảng Nam.


X2 Hội An là tổ hợp khách sạn và biệt thự ven sông, trong đó biệt thự có từ 2-4 phòng ngủ hướng sông và hướng hồ bơi.

Thiết kế của X2 Hội An mang hơi thở đương đại với các nguyên vật liệu địa phương tự nhiên như gỗ và đá, hài hòa với kiến trúc xanh tổng thể của dự án.

Tất cả các biệt thự đều được thiết kế với hồ bơi riêng, không gian sinh hoạt chung rộng rãi, và sở hữu vị trí lý tưởng gần với các tiện ích, thuận thiện cho gia đình và bạn bè vui chơi.

Tổng số căn tại dự án 68 căn biệt thự chia làm 2 giai đoạn xây dựng. Giai đoạn 1 gồm 35 căn biệt thự được mở bán, 33 căn biệt thự mở bán trong giai đoạn 2. Dự kiến, bàn giao các căn biệt thự trong giai đoạn giai đoạn 1 vào tháng 9/2018. Giá bán một căn biệt thự tại X2 dự kiến từ 8 tỷ đồng.

Source: Dau Tu Chung Khoan

X2 Hoi An Resort and Residence introduced

By | Bloomberg, Vietnam Economic Times | No Comments

The X2 Hoi An Resort and Residence was officially introduced by Savills Vietnam, the My Viet JSC (MIVICO), and IXORA on July 12 in Hanoi.


Located on the banks of the Co Co River in Dien Ban district in the ancient town of Hoi An in central Quang Nam province, X2 Hoi An is a hotel and villa complex invested by MIVICO and developed by IXORA.

The first phase consisting of 35 villas is under construction, with a fully-furnished handover to come in the first quarter of 2019. Purchasers can choose from three and four-bedroom riverfront villas, three-bedroom river view homes, or two-bedroom pool view homes.

All villas are designed with a large private swimming pool and a spacious common living area and are ideally located near amenities and family-friendly facilities.

Savills Vietnam was officially appointed as the exclusive agent for the X2 Hoi An Resort and Residence in June. Mr. Duong Duc Hien, Director of Residential Sales at Savills Hanoi, said it is easy to feel the owner’s dedication even in the smallest of details. “Each piece of stone or wood is selected through several processes before being hand-assembled stone-by-stone on the wall to create natural insulation for each villa,” he said. “Interior details, from gold-plated water taps to the bricks or the stone walls, are completely crafted from the highest quality materials, enhancing not only the beauty but also the lifetime of each villa.”

Mr. David Chang, Founder of IXORA, is committed to providing a high level of quality and aesthetics in products, which presents a valuable investment opportunity to purchasers.

Inspired by the surrounding natural beauty, hand-selected designers created structures that blend seamlessly into the environment, with fresh greenery in the private gardens of each villa and organic and hydroponic gardens throughout the project.

The design of X2 Hoi An is in harmony with the overall green architecture of the project and is also the “air conditioning” for the villas, ensuring a fresh and natural living space.

X2 Hoi An also provides high-standard facilities such as an infinity swimming pool, a library, a spa, a nursing club, restaurants, bars, and an amusement park for children, providing a leisurely lifestyle and comfort.

Source: VN Economic Times

Over 93% of foreigners satisfied when touring Viet Nam

By | Danang today | No Comments

Over 93% of interviewed foreign tourists said they are satisfied with their trips to Viet Nam, according to the Viet Nam Annual Tourism Report 2017 by the Viet Nam National Administration of Tourism (VNAT).


The VNAT recently said that in 2017, it distributed 27,000 feedback forms to foreigners at 12 international border gates nationwide, including four airports, four land border gates, and four seaports.
Results showed that up to 93.46% of the respondents were satisfied and very satisfied with their trips in Viet Nam. Only 0.63% of them recorded any dissatisfaction.

More than 92.5% of tourists stayed overnight in Viet Nam at tourism accommodations, and 7.4% visited the country within one day. Over 60% of the visitors organised tours by themselves.

Meanwhile, each foreign visitor staying at tourism accommodations spent an average of 1,171.3 US$ in Viet Nam, with Asian visitors spending 995.7US$, European visitors 1,295.3 US$, visitors from Oceania 1,791.1US$ , and those from the Americas 1,525.1US$.

About 60% of the respondents were visiting Viet Nam for the first time, according to the report.
At the press conference in Ha Noi, the VNAT also reported that nearly 7.9 million foreigners visited Viet Nam in the first half of 2018, up 27.2% year-on-year. The country also witnessed around 42.8 million domestic tourists exploring the nation in this period.

Source: Bao Da Nang

International arrivals in Danang surge by 50%

By | The Saigon Times | No Comments

DANANG – Danang’s Department of Tourism on June 26 announced that in the year to date, international arrivals to the central coastal city of Danang had rocketed by some 50% year-on-year to an estimated 1.6 million out of over four million tourists to the city.

Tran Chi Cuong, deputy director of the department, said that although accurate data had yet to be gathered on international tourists to Danang in the first half of the year, South Korean visitors have accounted for half, skyrocketing by 100% year-on-year, while the number of Chinese travelers have reached 368,000, up 36% and representing 23% of the total.

In recent years, Danang has seen a large influx of South Korean and Chinese tourists, achieving substantial revenue from tourism services, Cuong said. But he voiced concerns over the rampant development of low-cost tour operations, saying it had left negative impact on the tourism environment, service quality and tourists’ rights and benefits.

“We sent a report on proposals to tighten and control low-cost tours,” Cuong told the Daily, adding that focusing on Europe and India as major source markets is a necessary solution.

Besides this, airlines, travel firms and authorities at Danang International Airport should map out a general plan to launch air routes to new source markets, Cuong stressed.

Danang is currently home to nine airlines operating 170 weekly flights in total from Danang City to the South Korean destinations of Seoul, Busan, Incheon and Daegu, as well as direct air services from Danang City to China, Thailand and Malaysia.

Statistics show that in the first six months of 2018, the number of tourists traveling by air to Danang surged by over 40% against the year-ago period to an estimated one million. The city welcomed 62 cruise ships docking at Tien Sa port, with some 65,000 guests, up 23% year-on-year.

Danang has 3,650 tour guides, including 1,210 local guides and 2,240 international ones, 320 travel firms and 720 lodging facilities with 31,531 guest rooms, up 103 facilities with 7,522 guest rooms year-on-year.

Source: The Saigon Time