Vietnam, the new focus of global branded residences
According to a report from Savills and Knight Frank, the global branded real estate market has grown by 180% over the past decade and is expected to continue to maintain an increase of 10 - 16% per year. By the end of 2024, the global network recorded more than 1,700 branded residences projects, of which nearly 800 have been completed and more than 900 are under development. In particular, the Asia-Pacific region is rising to become a new development center of this segment thanks to the rapid increase of the rich class and the need to live according to international standards - expected to surpass North America to become the leading market within the next 12 years.
In emerging markets, branded residences often have a price difference of more than 45% compared to unbranded products. This shows that buyers are willing to pay for values beyond pure real estate, such as guarantees for design, management, operation and asset preservation capability.
According to Knight Frank's forecast for 2023 - 2028, the number of super-rich people (UHNWI) in Asia will increase by 38.3% - the highest increase globally, far exceeding the Middle East and North America. This is a premise for Vietnam, with the rich and super-rich (HNWI/UHNWI) growing strongly, to become a potential destination in the global expansion strategy of branded real estate brands.
Notably, as of the fourth quarter of 2024, Vietnam has been in the top 6 countries with the most "branded residences" projects in the world, surpassing both China and India, two densely populated markets with high growth rates, according to a report by Global Branded Residences. In terms of the number of projects under implementation (pipeline projects), Vietnam also ranks 4th globally. This is not only a sign of an accelerating development cycle, but also a clear demonstration of international brands' expectations for the Vietnamese market in the long term. In particular, the rise of mid-range customers who want to live according to international standards - who have never been the target of traditional "branded residences" - is creating new momentum for the market.
Masterise Homes pioneers in opening a new trend for branded residences in Vietnam
While the HNWI/UHNWI customer group in Vietnam has begun to approach international "branded residences" products, the mid-range and upper-middle-class customer groups - young people with a sophisticated lifestyle, solid finances and global living standards - are still not fully served. This is the market vacation that Masterise Homes has chosen to lead in a new direction.
Instead of limiting the concept of branded residences in cooperation with hotel brands, Masterise Homes is pioneering in expanding this definition. By applying the experience of developing international branded residences to creating unique branded products, the developer has created a product ecosystem that meets international standards, but with a level of personalization and localization suitable for the Vietnamese market.
Lumiere Series and Masteri Collection are typical examples. These product lines not only fully inherit the spirit of "branded living" - an international lifestyle that requires high consistency in design, operation and experience, but also possess a unique "identity": from philosophy of life, customer positioning, to building a community of residents. This is what helps the brand not only create products, but is gradually shaping the lifestyle of "branded living" in Vietnam.
At the same time, future branded residences will not only revolve around a cooperative model with a hotel brand, according to Masterise Homes. There are at least 14 other combined directions - from fashion, wellness, technology, sports, art to cuisine and adventure - each form represents a new value system, serving the increasingly diverse needs of the elite.
It can be seen that the strategy of developing Masterise Homes brand products is not simply to supplement the portfolio, but is a strategic step to expand the concept of "branded residences" in Vietnam - making international standard lifestyle more accessible to the generation of successful Vietnamese people, who are eager for a standard of living commensurate with their position. With this strategy, it is not surprising that Masterise Homes continues to affirm its pioneering position, leading a new development trend for the branded real estate market in Vietnam.
