Singaporeans investors show strong interest in vacation homes in Vietnam

On January 30 and 31, representatives of more than 200 real estate companies from Singapore as well as many investors joined the conference at InterContinental Singapore where Sun Group showcased its projects in Danang and Phu Quoc.

Leong Boon Hoe, managing director of CBRE Singapore, explained that as of now the price of Vietnamese real estate in the mid- and high-end segments were lower than that in Singapore.

Specifically, a 300 square-metre villa in Sentosa Singapore is about $12.6-$14 million, and a three-bedroom apartment is about $500,000-$840,000. Meanwhile a similar villa at Premier Village Phu Quoc Resort, Premier Village Danang Resort, Premier Residences Phu Quoc Emeral Bay is about $1-2 million, one at InterContinental Danang Sun Peninsula Resort is about $3.8-$6.5 million while an apartment in Sun Group’s projects is about $150,000-$1 million.

“Singaporeans travel frequently to destinations in the Southeast Asia. They rent apartments at $20,000 per month to live in. so they are ready to pay $15 million town a vacation villa,” said Felicia Ang, executive director of Savills Singapore.

With vacation villas in Vietnam being cheaper compared to those anywhere else, and the potential rise in the price, the number of Singaporean investors being interested in vacation real estate in Vietnam has been on an increase recently. However, according to Ang, only projects with prestigious developers that have been recognised worldwide can attract Singaporean investors.

That’s why Sun Group’s projects have been receiving attention from Singaporean investors, as Sun Group’s InterContinental Danang Sun Peninsula Resort has recently, for the second consecutive year, been crowned World’s Leading Luxury Resort in the World’s Travel Awards.

Other projects of Sun Group in Danang and Phu Quoc were also highly regarded by Singaporean real estate companies due to their competitiveness, besides their relatively lower prices, and the 9 per cent profit rate commitment in the first nine or ten years of the renting programme.