The trend of population aging and the increasing number of rich and super-rich people in Vietnam are the main levers for investment in construction of high-end nursing real estate projects.
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| The investment market for high-end nursing and convalescent hospitals in Vietnam has begun to appear "names" with the role of market creator. In the photo: Vinmec Medical Resort convalescent hospital model developed by Vinhomes. |
Opportunities from the super rich group
Sitting on a park bench to rest after an exercise bike ride on the weekend, Mr. Tran Long and some of his neighbors in Bang Lang subdivision in Vinhomes Riverside urban area (Long Bien district, Hanoi) calculated, More than 3 years left until retirement. However, he has prepared everything to enjoy a leisurely life in his late years with his wife and two daughters residing in Japan. He is planning to go to Japan to settle with his children.
Accordingly, the other port city of Fukuoka belongs to the city. Fukuoka on Kyushu Island (Japan) was chosen by him and his wife. Partly because this place attracts many foreigners to study and live. Many nearby universities are conducting exchange programs with international students, which is very convenient for his two daughters who are working in the field of education. Additionally, this area, also known as “Hakata”, is famous for its onsen (hot springs), delicious foods, and many tourist attractions, such as Dazaifu Tenmangu Shrine, Canal City Hakata, and Itoshima.
"I decided that after retiring, I will come to live in Japan," Mr. Long shared with his friends.
Meanwhile, Ms. Hang, a secretive businessman in Ho Chi Minh City, spent millions of dollars renting a 2-bedroom apartment in Singapore for 5 years to treat her illness. She decided to go to Singapore for treatment after discovering she had esophageal cancer.
According to Knight Frank Company's Prosperity Report, the number of super-rich people in Vietnam (owning assets worth $30 million or more) increased by 82% in just 5 years, from 583 people in 2017, to 1.059 people by the end of 2022.
The number of rich people with assets from 1 million USD to less than 30 million USD in Vietnam also increased by 70% in the past 5 years and is expected to skyrocket 173% in just 10 years, from 2017 to 2027.
"Here is more than a resort," Ms. Hang commented after visiting the model house at the convalescent hospital facility in Singapore. Some outstanding amenities here include indoor swimming pool, yoga room, 24/7 care service...
People like Mr. Long and Ms. Hang are among the customer group that investors are targeting - rich, progressive-minded and looking for joy in their twilight years.
"Our goal is not just to spend money to buy an apartment, but to find a more interesting life," Ms. Hang shared.
The above models of convalescent hospitals and high-end nursing homes are becoming increasingly attractive investment destinations for investors in Southeast Asia, including Vietnam. More and more money is pouring into this field, in the context of an aging population and an increasing number of super-rich people.
However, the situation of rich people having to go abroad for treatment shows a gap in luxury medical services in Vietnam and many investors are starting to seize opportunities from this potential segment group.
One of them is real estate service developer Vinhomes (part of Vingroup). Vinhomes has just decided to invest in a convalescent hospital model
Vinmec Medical Resort aims to explore the potential of this service in the Northern region.
According to the investor's introduction, as part of the plan to complete the utility system of Vinhomes Ocean Park 2 in the period 2024 - 2025,
Vinmec Medical Resort is a 5-star luxury convalescent hospital, with health care facilities most expected by many residents. Not only is it a gathering place for a team of highly qualified and experienced medical doctors, this is also expected to be a place to bring health care experiences to Vinhomes residents, with different service standards, unprecedented in Vietnam.
Designed in a luxurious classic style, a distinctive highlight of
Vinmec Medical Resort comes from 18 presidential villas - convalescence rooms for patients with super luxury class. At the same time, the harmony between green vegetation and water surface amenities also makes private space an advantage of these special convalescence rooms, helping patients quickly recover mentally and physically completely. face.
Besides Vinhomes, we must also mention the Japanese investor - Mikazuki Group. Earlier this year, in a meeting with city leaders, Mr. Da Nang, Mr. Yoshimune Odaka, Chairman of Mikazuki Group proposed investing in a number of projects in the city. In particular, Mikazuki plans to coordinate with a Japanese hospital to invest in an additional resort block in the parking area of the Mikazuki hotel operating in Da Nang, combining additional screening functions. health. The investment scale for a resort block is about 150 rooms with a total investment of 30 - 50 million USD.
This investment proposal not only increases the value of Mikazuki Hotel, but is also consistent with the orientation of the coastal city of Da Nang - developing resort tourism combined with health care.
Japanese hospitals will bring modern medical equipment to Mikazuki Hotel to screen the health of people in need and will directly bring patients to Japan for treatment, especially cancer patients. letters.
It can be said that the Japanese nursing home model is quite popular with investors. In Hanoi, there is currently the Asahi Oriental Nursing Home Project, the investor is Phuong Dong Medical Complex Co., Ltd.
Starting construction in July 7, Phuong Dong Asahi has created a big "boost" for the high-end resort and nursing home market in Hanoi - a place that is "thirsting" for a comprehensive health care model for its residents. Elderly. Oriental Asahi is designed with comfort, classy space combined with many comprehensive health care facilities standard Japanese nursing model and many unprecedented privileges at nursing homes in Vietnam.
This project has a total investment of 800 billion VND, scale of 7.000 m2 located on the 10-hectare campus of Phuong Dong Medical Complex (No. 9, Pho Vien, Co Nhue 2 Ward, Bac Tu Liem District, Hanoi) , expected to welcome its first guests in 2024.
Designed in a modern style and managed and operated by Tsubasa Group (Japan), Phuong Dong Asahi provides a variety of services including: residential care for the elderly with long-term or Elderly people with underlying or serious illnesses; Boarding care for busy families or the elderly who want to experience world-class resort and nursing services.
According to analysts, the value of Phuong Dong Asahi nursing home, in addition to providing health care for the elderly according to strict Japanese standards, is also a place to train nurses that meet Japanese standards to provide human resources for the labor export market and accepting back people who have expired as nurses in Japan to work.
Leverage from the aging population trend
It can be said that the investment market for high-end convalescent and convalescent hospitals in Vietnam has not yet entered the phase of rapid growth, but "names" have begun to appear to create the market.
Real estate developers have sought to join hands with medical facilities to develop this model. Although many investors have not yet made a profit from the nursing home business, they believe that demand for these facilities will increase and changes in Eastern social concepts will bring benefits. long-term profits.
In terms of policy, Vietnam is developing a detailed plan to promote the development of medical care for the elderly, focusing on expanding basic services at affordable prices. One of the goals of this plan is to increase the number of beds in nursing facilities and invest resources to train human resources.
Demographic changes are also breaking down long-standing traditional barriers that have hindered the popularity of nursing homes in Vietnam.
According to data from the General Department of Population (Ministry of Health), the proportion of the population over 60 years old in Vietnam in 2022 will be 12% and by 2050 will be 28%. While
It took Australia 72 years, while Vietnam took 16 years to move from an aging country to an aging country (the proportion of the population over 65 years old increased).
The demand for services related to nursing homes - which provide health care services for the elderly - is increasing, but in Vietnam, this market is still very primitive. Although the goal is to have at least one nursing home facility in each province and city by 2025, this cannot keep up and meet the pace of population aging in Vietnam.
Investors estimate that the current occupancy rate at private nursing homes, mainly located in economically developed areas, is only about 37 - 40%, much lower than the 85% needed to achieve equality. capital. Factors that make customers afraid include high costs (due to increasing land prices and high investment capital costs).
However, the aging population trend is one of the levers for the development of nursing home services and convalescent hospitals to serve the super rich.
Savills Vietnam representative said that in the Vietnamese market there are many levers to help support the construction of retirement real estate specifically for the elderly, especially the insurance packages that come with Value investing is increasingly popular. From a facility operations perspective, it is currently difficult to obtain specialized medically trained staff. In the future, the traditional family model will certainly gradually change and the next decade will witness many opportunities for the retirement housing segment. In that context, investors are forced to invest long-term.
