Tourism real estate emerges as key driver

Driven by institutional reforms and infrastructure development, tourism real estate is well positioned to emerge as a key driver of Vietnam’s property market.

- By Ngoc Van Linh

At a conference on generating cash flows in tourism real estate held by VIR in Hanoi last week, Assoc. Prof. Dr. Tran Kim Chung of the Academy of Finance said that Vietnam’s tourism real estate market had largely completed its institutional framework, creating a solid legal foundation for long-term development.

“The tourism development framework has been expanded from six regions and three growth poles to seven regions and 10 growth drivers stretching from north to south, creating new momentum for market development,” Chung said.

He added that the geographical footprint of tourism real estate is expanding beyond traditional destinations of Danang, Nha Trang, Phu Quoc, Halong into emerging markets such as Quy Nhon, Vinh, and Tuy Hoa in the coastline of Dak Lak province.

At the same time, project scale is expanding significantly, with large integrated tourism-urban developments covering thousands of hectares emerging across the market.

Product offerings are also becoming more diverse, evolving from standalone resorts into integrated city-within-a-city destinations that combine accommodation, amenities, services, and future development areas within a single ecosystem.

Developers are introducing more flexible and innovative formats, such as one-bedroom-plus apartments, to maximise functionality, improve liquidity, and better meet the needs of both investors and end-users.