Marina properties: the standard for the elite.

Vietnam - A potential market for yachts

Along with collecting supercars and designer goods, yachts also contribute to elevating the status of their owners. Therefore, waterfront properties (along rivers or the sea) with marinas are also favored by the elite.

Vietnam possesses a 3260km coastline and significant potential for developing its yachting industry in the near future. This is why, in recent times, many international yacht brands have begun to approach the Vietnamese market. A prime example is the Saigon Yacht Show 2021, held in Ho Chi Minh City at the end of 2020 and beginning of 2021. This yachting exhibition featured many leading global brands such as Lagoon, Princess, Galeon, Chaparral, Regal, Corsair, and others.

Currently, it is estimated that more than 40 yacht brands are operating in the Vietnamese market. However, a major challenge is finding suitable docking spaces, as there are still no clear regulations for yacht marinas.

Buying a yacht is easy, finding a place to dock it is the hard part.

In Vietnam, wealthy individuals are willing to spend millions of dollars to own a yacht. However, they need to find a place to moor their "floating villa." Since yachting is a relatively young industry, the availability of berths, docks for mooring, yacht maintenance and security services, and other infrastructure for yacht ownership is scarce or inconvenient.

Due to the lack of a comprehensive plan for inland waterway infrastructure and other related plans, there is no basis for considering and approving permission for organizations, individuals, and households to moor inland waterway vessels for transportation and tourism purposes. Currently, most vessels have to moor at licensed wharves, but these are located very far away.

According to a report by the Ho Chi Minh City Department of Transport, the total number of registered and operating yachts owned by households and individuals is 50, plus 390 motorboats owned by households and individuals (not including those owned by agencies and organizations). Transport leaders assess that the demand for mooring of watercraft by organizations and individuals (households) on inland waterways in Ho Chi Minh City is very high.

Not only in Ho Chi Minh City, but many other famous riverine tourist destinations are also facing a shortage of yacht mooring spaces. For example, coastal tourist cities like Vung Tau, Da Nang, and Hanoi are also encountering similar problems in securing mooring facilities.

Double returns from investing in villas with private marinas.

According to a report by Knight Frank, the number of ultra-wealthy individuals in Vietnam will increase by 31% over the next five years – one of the highest rates in the world. It is projected that by 2025, Vietnam will have 511 individuals with assets exceeding $30 million and 25,812 with assets exceeding $1 million. This also means that the demand for luxury goods will be significantly higher than it is today. Besides beautiful homes, luxury cars, and expensive fashion, the wealthy are increasingly turning to a new asset class: yachts, often accompanied by real estate with yacht marinas.

According to another report by Knight Frank, waterfront properties globally are currently priced approximately 40% higher on average than comparable properties in terms of size, amenities, and construction quality. Therefore, luxury waterfront complexes like Marina Bay (USA), Hillarys Marina in Australia, The Palm Island in Dubai, Marina Cove in Hong Kong, or Marina Bay Sands in Singapore are always the preferred choice for affluent residents – from billionaires and politicians to world-famous celebrities.

Anticipating this trend, Novaland, with its numerous riverside and coastal projects, is pioneering the creation of a high-end real estate segment combining marinas exclusively for the elite in Vietnam.

One of the prominent projects of this type of real estate soon to be introduced to the market is Long Island. This is the next phase of NovaWorld Ho Tram, launched in the resort capital of Ho Tram. With the advantage of being located on the most pristine and beautiful natural beach in Vung Tau, bordered by forests and rivers, Long Island possesses a unique and unparalleled location in the area.

Many businesspeople and celebrities were immediately drawn to the Long Island project upon their first visit, demonstrating the appeal of this type of real estate. It's understandable that yachts and private moorings are symbols of the most luxurious lifestyle for the elite, those who not only possess financial resources but also have refined taste.

Additional information

Long Island is the 6th phase introduced to the market by NovaWorld Ho Tram. The villas are surrounded by a lagoon canal system with a private yacht dock right at their doorstep.

For more detailed information, please contact the hotline at 0909888886 or visit the website novaworldhotram.vn

Huy