Vietnam's Luxury Real Estate Gains Global Spotlight Through Christie's International Real Estate Listings

According to a wealth report from Knight Frank, Vietnam's luxury residential market is expected to grow from $4.14B in 2025 to $7.84B by 2030, with a 13.65% compound annual growth rate. This growth is driven by a 12% annual rise in high-net-worth individuals (HNWIs). In 2023 alone, HNWIs grew by over 9%, fueling demand for luxury properties.

Masterise Homes has tapped into this growth by listing its branded residences on Christie' International Real Estate, the Vietnamese real estate developer said on Tuesday. This significant milestone is made possible through Masterise Homes' partnership with S&S Christie's International Real Estate (S&S CIRE), the official representative of Christie's International Real Estate in Vietnam, through a strategic partnership with S&S Group, a conglomerate with over a decade of expertise in the ultra-luxury sector.

Vietnam's Booming Luxury Real Estate Market

The report from Knight Frank shows that Vietnam's luxury real estate sector is expanding rapidly, driven by the rise of affluent individuals and strong economic growth. The IMF projects the country to achieve 6.5% GDP growth in 2025, contributing to the increasing number of HNWIs. HNWIs are growing by 12% annually, while ultra-high-net-worth individuals (UHNWIs) increased by 2.4% in 2023.

Knight Frank forecasts this trend will continue, with UHNWIs expected to rise by 30% from 2023 to 2028, averaging around 6% annual growth.

This increase in wealth, along with Vietnam's strong economy, has led to a rise in demand for premium properties. By 2023, the country had attracted a growing expatriate community, with approximately 100,000 expatriates living and working in Vietnam. This rising population has further boosted the demand for high-end residential developments, particularly in key urban hubs like Ho Chi Minh City and Hanoi.

In addition to its growing affluence, Vietnam offers exceptional value in the luxury real estate market. The country provides luxury residences priced 30-40% lower than those in regional competitors like Thailand and Singapore, making it an attractive option for affluent buyers.

According to Mordor Intelligence, capital appreciation rates are substantial, ranging from 10-15% per year. This factor enhances the appeal of investing in Vietnam's luxury market. With the market expected to grow by 13.65% from 2025 to 2030, Vietnam is quickly emerging as a key destination for luxury real estate in Southeast Asia.

Masterise Homes and Christie's International Real Estate: A Prestigious Partnership

Masterise Homes' collaboration with S&S CIRE marks a significant milestone for Vietnam's real estate industry. CIRE, renowned for representing the world's most exclusive properties, now features key projects from Masterise Homes in its global network.

These projects include Grand Marina Saigon, the world's largest Marriott-branded residential project; the Rivus, Asia's first riverfront ELIE SAAB-branded villas; and SOHO, a dynamic townhouse zone within The Global City, one of Masterise Homes' key projects.

Tu Le, Chief Operation Officer at S&S Group, highlighted the rigorous selection process: 'Each property must embody luxury, uniqueness, and rarity, ranging from beachfront villas and historic castles to modern apartments and bespoke estates. The selection of properties for listing by S&S CIRE in Vietnam also adheres to global standards for property evaluation and appraisal and S&S Group's vision for delivering excellence and brand distinction.'

Masterise Homes aims to continue leveraging global platforms like Christie's International Real Estate to showcase Vietnam's luxury real estate on the world stage.

Expressing optimism about the partnership's long-term potential, Nguyen Thi Minh Phuong, Chief of Business Development (South Region) at Masterise Homes, said in an email interview: 'With Vietnam's rapid economic growth and stable outlook, our properties offer sustainable value and unmatched potential. Partnering with a globally recognised brand like S&S Christie's International Real Estate affirms Masterise Homes' expertise, quality, and competitiveness in the international luxury real estate market.'

Opportunities Ahead for Vietnam's Real Estate Market

Sharing the partnership with Christie's International Real Estate, Phuong said: 'This partnership will boost the luxury real estate market in Vietnam's competitiveness and appeal on the international market, establishing it as a destination for elite property ownership.'

Phuong said the partnership will ensure that the local audience understands the value of branded residences, which have been internationally recognised as sustainable value and exceptional assets.

Vietnam's luxury real estate market has experienced continuous growth, with landmark projects like the JW Marriott branded residences at Grand Marina Saigon leading the way.

On the Grand Opening of JW Marriott Residences Grand Marina Saigon last month, John Hearns, Senior Vice President of Global Residential Operations at Marriott International, shared: 'By combining Masterise Homes' renowned development expertise with Marriott International's world-class hospitality leadership, we are confident that our branded residences will meet both international standards and local preferences.'

Hearns highlighted that, as the first JW Marriott-branded residences in Vietnam, this project sets a new standard for luxury residential real estate in the country. With exceptional spaces and world-class amenities that define luxurious urban living, the JW Marriott Residences at Grand Marina Saigon elevates the luxury real estate landscape in Vietnam and enhances the city's global appeal as a destination for high-end living.

Rapid urbanisation and growing wealth and sophistication in urban populations across Asia are driving the demand for exclusive residences that offer premium services and amenities.
Hearns added, 'Leveraging Marrott's diverse portfolio of world-class brands, we are confident we are well-prepared to continue meeting this growing demand for urban branded residences.'

Vietnam: A Destination for Elite Property Ownership

Looking ahead, the partnership establishes a foundation for continued growth in Vietnam's luxury real estate sector. Foreign investors and increasing interest in branded residences position Vietnam as a prime destination for luxury property investment.

Phuong said: 'From the outset, Masterise Homes has led the way in introducing global standards to Vietnam's real estate market by partnering with iconic brands like Marriott International, ELIE SAAB, and Foster+Partners to deliver unparalleled quality and design. Our expectations from this partnership are ambitious yet grounded in the immense potential we see in Vietnam's luxury real estate market: to accelerate Vietnam's real estate evolution, aligning it with the pace and standards of mature global markets.'

Phuong emphasised that this partnership will enhance the competitiveness and appeal of Vietnam's luxury real estate on the international stage, solidifying its position as a destination for elite property ownership.

About the author: Katrina Thompson is a Hong Kong-based freelance writer with a strong background in luxury business. She covers news on business, real estate, and luxury business across Asia.