Prospect of branded residence in Vietnam remains buoyant: Savills
Vietnam appears to be a potential market for branded residences with the future destinations like Hanoi, Ho Chi Minh City, and Danang.
Branded residences, which are normally a partnership between a brand (often a hotel operator) and a developer, have grown rapidly in big cities over the world and Vietnam is expected to see the growth of this concept in the upcoming time, a senior executive from Savills has said. 
Illustrative photo
|
He said that branded residences are attractive through offering the added value of a brand and enhancing experiences for the homeowners. The engagement of a brand ensures the quality of design, security and high levels of services.
However, it requires a thorough understanding of the concept and structure of the involved parties, he warned.
Savills statistics showed that branded residences have taken off in the last two decades. The scale has risen fourfold in 20 years thanks to a growing, globally-mobile high net-worth population.
In addition, this kind of property instills confidence in buyers, and is especially attractive to globally-mobile, time-poor individuals seeking a high service offer, hassle-free ownership and prospect of rental returns when not in occupancy.
Hoteliers benefit from diversified schemes and additional income streams, while deepening their relationship with their customers. Developers, on their part, see their profile and profit risen by combining with a brand.
Illustrative photo
|
Of the global hotel branded residences, Marriot International, Inc. accounts for 31% shares of schemes.
16:35, 2024/10/22
New international brands diversify Hanoi hotel offerings
Hanoi's hotel market is also experiencing a decline in rental rates amid the seasonal lull in tourism and leisure activities.
20:57, 2024/10/21
Hanoi set to deliver new luxury apartments this quarter
Over 19,000 new apartments were delivered in the first nine months of this year, surpassing the total supply in 2023.
20:10, 2024/09/25
Hanoi's real estate market soars: Apartment transactions up 101%
The mid-range segment in Hanoi will continue to play a significant role in supply.
18:57, 2024/08/24
Hanoi to add 8,300 apartments to social housing reserves by 2029
Along with relieving housing pressure in central urban areas, the new social housing projects will also help to expand residential zones beyond the city's borders.
16:10, 2024/08/05
Hanoi real estate market: Developing in right direction
The price increase for apartments in Hanoi in the first half of 2024 compared to the beginning of 2023 is 31%.
15:54, 2024/08/03
Property prices in Hanoi, Ho Chi Minh City driven by speculators: experts
Specialists expect that new legislation will help to tighten market control and thus bring prices down.