Homecation - A new breeze in the beach apartment market

Many investors are interested in the homecation segment.

Second home 1 hour away from HCMC is the advantage

The second home market has a lot of room for growth due to the increasing demand for enjoyment and health care. At the same time, the demand for second home ownership is also boosted by the following advantages: Vietnam is in the top 3 countries with tourism development capacity (according to the World Economic Forum's 2021 Travel and Tourism Development Index report), and the top 3 countries with the largest number of super-rich people in Asean-6 (according to Knight Frank's Wealth Report 2022).

For domestic tourists , destinations less than 2 hours away from their accommodation are the most popular because they are suitable for weekends and short holidays. Only 60 - 90 minutes away from Ho Chi Minh City and the rest of the Southeast provinces, Vung Tau city is one of the areas with advantages in the second home beach market.

Multi-purpose exploitation and rich growth potential

Second home is not only for living, short-term stay and vacation but also ensures optimal rental exploitation when the owner is not using it to have an annual passive income source.

Therefore, to enjoy a complete quality vacation, ensure rental prices and increase room occupancy, the current trend of owning a second home always focuses on comprehensive facilities, convenient locations to attract tourists, and international standard quality management and operation services along with the opportunity to increase value.

Vung Tau coastal economic city is highly appreciated for benefiting from the infrastructure in the southern belt when it is only 30 minutes from Long Thanh international airport, receiving the boost from Bien Hoa - Vung Tau expressway, Ben Luc - Long Thanh expressway... and is a coastal city with a modern, bustling system of utilities and social infrastructure.

At the same time, with the attraction of the largest international airport in Southeast Asia, Vung Tau city is predicted to be the convergence point of MICE tourism trends (tourism combined with conferences), workcation trends (work combined with tourism) of international visitors when coming to Vietnam and conveniently welcome domestic visitors.

Second home in the inner city of the coastal city is highly appreciated for its traffic connectivity and long-term ownership.

Easy to own and inherit

Young families and successful young people are increasing rapidly, leading to the need to own second home assets and becoming the main customers of this product line. Beach apartments with reasonable prices, supported by banks, are currently being chosen by the market.

Besides, with the Vietnamese mentality of inheriting and living a stable life, the market always prioritizes coastal apartment projects with long-term ownership factors because they maintain the price increase rate, and are flexible in all forms of residence, accommodation or short-term and long-term rental.

Homecation - New trend changes market taste

At the end of November 2023, developer SG Holdings and investor DIC Holdings launched a new value system for the Vung Tau Centre Point project - creating a Homecation-style beach apartment and contributing to opening up a new trend of property ownership in the market.

This is a combination of a special "home" value system - long-term ownership apartments, designed and developed with a utility system and fully furnished according to 4-star "Vacation" standards - plus management and operation by the international brand CBRE - personalized butler service.

In addition to the high-class internal utility system, Vung Tau Centre Point also benefits from the social infrastructure ecosystem of the new administrative center of Vung Tau city and the utility system of international tourist metropolises in the near future.

Homecation Vung Tau Centre Point converges the special value system Home - Vacation, living at the resort - vacationing at the place of living.

In terms of long-term ownership, the latest report of the Ho Chi Minh City Real Estate Association (HoREA) said that in the same area and segment, apartments with indefinite tenure have a selling price 20-25% higher.

Meanwhile, international management and operation can also have a strong impact on the price and liquidity of the project. According to DKRA's Q1/2022 report, projects operated by international units recorded a 23% higher selling price and accounted for 86% of total consumption in the quarter. The factor of international operation also keeps rental prices high and keeps the property value increasing sustainably.

The value of Homecation beach apartments is revealed to be suitable for customers with moderate savings to join the beach real estate market in a tourist city near Ho Chi Minh City and to take the lead in many new living - working - traveling trends.

Addressing market demands, Homecation is expected to change the taste of choosing second homes of successful Vietnamese people from the end of 2023.

Source: https://dantri.com.vn/bat-dong-san/homecation-lan-gio-moi-cua-thi-truong-can-ho-bien-20231223173205342.htm