The growth of green in Vietnam’s property sector

Nha Trang and Da Lat cities, which are renowned for private beaches and natural pine forests respectively, are proof to this. The seaside city of Nha Trang has been very successful in attracting buyers for luxury resort projects while Da Lat has welcomed many visitors since a number of resort villa projects were launched recently.

Several developers in major cities such as Ho Chi Minh City have also adopted this “green real estate” trend into their development plans. Despite the fact that HCMC does not have any beaches, a cool climate or green mountains to attract tourists and buyers, many developers have tended to take benefits from the city’s waterways and greenery along rivers to increase the attractiveness of their projects.

According to the VnExpress website, southern Ho Chi Minh City has witnessed the rise of Phu My Hung new urban area over the past 15 years, which has since become a model for the city. With the healthy living environment, the site has attracted thousands, including expats.

The green project with apartments worth millions of dollars on Diamond Island has become the talk of the town. The developer took full advantage of land facing the river in three directions, and a forest on the fourth side, by building a marina and creating lakes and green environment with plants and trees. So far, 60 per cent of its products have been sold, including 40 per cent of apartments worth between US$1 million and US$2 million.

Another project in Ho Chi Minh City that will be dedicated to the green concept include The Boat Club Residence in District 9. Developed by House Vietnam Joint Stock, the project will feature riverside apartments and villas. There will also be parks, small canals, walking lanes, green trees, a marina and fountains.

Khuong Van Muoi, Deputy Chair of Vietnam Architecture Association, said: “Green real estate is now a growing world trend and ecological real estate projects are fashionable. This is a good sign when developers pay attention and develop green products in our country.”