Marina-integrated real estate: new lifestyle for Vietnamese elite

July 09, 2021 | 18:15
Around the world, luxury waterfront complexes have always been the choice for upper-class residents, from billionaires and politicians to world-famous stars – and the rising affluent population in Vietnam is showing growing demand for this product line.
Marina-integrated real estate: new lifestyle for Vietnamese elite

Limited real estate by marina is always a priority asset in the collection of the elite

According to a report by Knight Frank, the price of waterfront real estate is 40 per cent higher globally than products of the same size, utility, and construction quality. Real estate with a private marina is not a privilege anyone can achieve. In many countries around the world, where yachts are the hobby of the elite, sometimes yacht anchorage costs more than the property itself.

Complexes with marinas such as Marina City and Marina del Rey are always in a higher price bracket than other projects in the market. In May 2021, house prices in Marina del Rey in California were up 24.8 per cent on-year, with houses in the area priced at an average of $1.2 million compared to $965,000 last year.

Marina del Rey is a gathering place for celebrities such as cyclist Kristabel Doebel-Hickok or film director Cindy Chupack while Marina City is home to super chef Graham Elliot Bowles or country music legend John Denver.

In Australia, the marina has become a highlight of the Hillarys Boat Harbour complex, increasing real estate values. The average home price in Hillarys now stands at $663,476 compared to $553,220 a year ago.

Aqua Marina – a jewel to adorn Aqua City

Knight Frank forecasts the number of ultra-high-net-worth individuals living in Vietnam to reach 31 per cent – the fastest rate in the world. By 2025, Vietnam will have 511 ultra-high-net-worth individuals with a net worth of at least $30 million each and 25,812 high-net-worth individuals with assets of at least $1 million.

This class often has strict requirements for living space. For them, a true living space is not just a place to live with basic amenities, but also must meet the criteria of "one destination, ten thousand experiences" – from a prime location, magnificent views, and top-notch architecture to utilities truly worthy for the elite, like the marina.

Novaland has taken advantage of its land site surrounded by the Dong Nai River, which is teeming with rich natural environment, to develop a high-class facility for Aqua City project. It is Aqua Marina - the European-style square and marina project which is planned as the leading entertainment and shopping complex in the region. The complex boasts an international-standard marina, a large square with a capacity of 10,000 people, as well as a bustling shopping zone and food court.

Marina-integrated real estate: new lifestyle for Vietnamese elite

Aqua Marina is an impressive highlight that brings Aqua City on par with other leading cities in Asia, satisfying the refined lifestyle of high-class residents and visitors

In the context of the COVID-19 pandemic, the need for a living space worth living has been rising remarkably. Many people are not on the look for spacious living spaces connected to nature as well as personal transportation such as yachts.

According to data from Ho Chi Minh City Department of Transport, in 2020, the number of newly registered inland waterway vehicles in Ho Chi Minh City was 287, including 22 yachts and 28 canoes carrying less than 12 people.

“The marina is a growing trend around the world for the elite and the super-rich. The more society develops, the higher the number of rich and super-rich people. This, coupled with the growing connection with mature yacht markets such as Singapore and Hong Kong (China), will unlock the potential of Vietnam’s marina real estate segment. However, it needs a methodical plan and quality developers to create a true marina,” Duong Thuy Dung, senior director of CBRE Vietnam, said.

An online event to introduce the limited product line of upmarket marina real estate of Aqua City ecological urban project will take place on the morning of July 11.

To learn more and seize the opportunity to own such a product, customers can visit the website: aquacity.com.vn or call the hotline: 0943797979.

By Thanh Van

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