The second-home buying boom

August 03, 2022 - 07:11
The desire to have a second home in a holiday destination within driving distance as tourism booms post-pandemic, as well as the potential for capital appreciation along with good rental yields, are vital factors driving the vacation home segment globally. Việt Nam is no exception.

The second-home buying boom

The desire to have a second home in a holiday destination within driving distance as tourism booms post-pandemic, as well as the potential for capital appreciation along with good rental yields, are vital factors driving the vacation home segment globally. Việt Nam is no exception.

How buying a second home became a global trend

COVID-19 has changed travel demand and behaviour regarding living spaces, including second homes. Health has never been a crucial factor for home buyers as it is today.

Coastal second homes with fresh air and top-notch facilities are magnets for homebuyers and investors. This trend has accelerated the coastal vacation home market, especially projects within world-class integrated resorts. It paints a confident picture for the second home segment in the post-pandemic period.

After a period of hibernation due to the pandemic, the second home market is maintaining strong growth momentum, whereas some sectors of the economy continue to struggle.

Demand for second homes has skyrocketed and was up 77 per cent from pre-pandemic levels in December, according to a new report from Redfin, the technology-powered real estate brokerage.

Meanwhile, the Q1 2022 report by Pacaso, the American estate brokerage, shows that the median second-home price was up 19.7 per cent year-on-year nationwide and is outpacing the rise in median primary home price, which rose 15.6 per cent.

Ixora Ho Tram by Fusion is a unique project that lures homebuyers looking for premium second home products.

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In Việt Nam, according to the “Demand for second home” survey conducted by VnExpress, nearly 80 per cent of respondents said that their priority is a second home within integrated resorts with top-notch amenities.

At the same time, the second-most-important factor is transport infrastructure. In this regard, integrated resorts within driving distance equipped with top-grade perks like Ixora Ho Tram by Fusion will have a considerable advantage.

Moreover, according to the 2022 Wealth Report by Knight Frank, Việt Nam is set to have one of the highest annual growth rates of HNWIs, estimated at 26 per cent through 2026. In addition, the volume of international searches for Việt Nam tourism has surged by up to 70 per cent, the fourth-highest increase in the world, according to Google’s market trend tracker tool. These figures are crucial indicators for continued growth in the second home market.

In May 2022, a total number of 172,900 foreign visitors vacationed in Việt Nam, up 70.6 per cent over the previous month and 12.8 times higher than the same period of the last year.

Meanwhile, domestic tourism has recovered faster than expected, with 60.8 million domestic tourists recorded in the year’s first six months, exceeding the annual target. Tourism revenue in the period rose nearly 95 per cent year on year. These indicators continue to support the explosive potential of the second home market in the post-COVID-19 era.

A second home is an invaluable family asset

The pandemic has shaped vacation and second home preferences. People now look for destinations that provide privacy, safety, and experiences. From this perspective, Ho Tram’s car-accessible location makes it an easy, cost-effective alternative for homeowners. The latest project in this area - Ixora Ho Tram by Fusion - is expected to be a top choice.

Just two hours by car from Ho Chi Minh City, Ixora Ho Tram by Fusion offers a paradise for relaxing. Ixora Ho Tram by Fusion will be the ideal retreat set in a desirable enclave steps away from the golden sand and complemented by the verdant 11,000-hectare Phuoc Buu – Binh Chau forest for homeowners to immerse in luxury and feast their eyes on endless sea views. It maintains mental well-being and, by extension, contributes to a happier and more fulfilling life.

Ixora Ho Tram by Fusion lures customers thanks to its open design and connection with nature while ensuring privacy.

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A beach is a relaxing place where visitors can enjoy the calming effects of the sun, sand, and water. It is also a form of medical treatment with countless benefits, as seawater contains vitamins, mineral salts, trace elements, amino acids, and live microorganisms that can produce antibiotic and antibacterial effects, promote a healthy immune system, improve blood circulation, increase red blood cell count, and stabilise the heart rate.

The iodine presence in seawater stimulates brain activity and improves memory and thyroid performance, while sea salt contains trace elements and mineral salts that will enhance the respiratory system, strengthen bones, and prevent osteoporosis. The heat of the sun and the coolness of the seawater increase metabolism.

Meanwhile, the sea breeze with its negatively charged ions and seawater molecules strengthens resistance to illness and enhances one’s spirit. The sound of the ocean waves puts the body into a state of deep relaxation as they alter brain patterns, rejuvenating the body and mind. In addition, Ixora Ho Tram by Fusion’s location next to 11,000 hectares of green space provides the body with negative ions that neutralise the effects of stress and excess toxic substances that urban dwellers accumulate in the “concrete forests” of the city.

Penthouses are delicately designed with elegantly harmonized colours and materials, with a private outdoor swimming pool embracing the beauty of the ocean.

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Ixora Ho Tram by Fusion’s location is one of its most unique aspects. Situated within Southeast Asia’s top integrated resort, The Grand Ho Tram Strip, Ixora Ho Tram by Fusion will deliver a memorable experience to visitors through an incredible variety of all‑inclusive activities such as water sports, gym workouts, swimming, and jogging, or exploring the primaeval forest and playing golf at The Bluffs, one of the world’s most highly regarded golf courses.

Combining natural terrain with a stunning design, The Bluffs is one of the few coastal golf courses with rolling slopes and holes weaving between natural forests and lakes, challenging even professional golfers. In addition, a selection of 15 restaurants serving a range of Asian and European cuisines, and spas, will help visitors re-energise with family and friends.

In a nutshell, Ixora Ho Tram by Fusion debuts in response to the growing demand from today’s luxury buy-to-let investors and owner-occupiers alike for private, coastal second homes with top-of-the-line amenities.