Growing trend of second home in Vietnam: Experts
The prefabricated house could soon develop into a new market segment with high potential in the local real estate market, especially in combination with the trend of investing in a second home.
A second home not only meets the growing demand for leisure purposes but is also a long-term investment option preferred by many amid the Covid-19 pandemic.
| Experts at the conference. Photo: Trung Vu |
Economist Tran Dinh Thien, a member of the Prime Minister’s Economic Advisory Group, shared the view during a recent conference on the trend of second home and prefabricated houses in Vietnam.
Coming along with the new investment trend in a second home, the availability of new technologies has also made the pre-fabricated house an attractive option for greater cost efficiency, environmentally-friendly, and convenience.
“Such advantages turn a prefabricated house into a new market segment with high potential in the local real estate market, especially in combination with the trend of buying a second home,” he added.
“More people are turning to a green lifestyle during the pandemic, so the pre-fabricated house would be a trend in time to come,” he said.
Echoing Thien’s view, Vice Chairman of the Vietnam Real Estate Association Nguyen Van Dinh said this model has become common in developed countries.
Dinh referred to the people in the US renting a land plot to set up a pre-fabricated house. “When they need to move to another city, it is possible to make the house along,” he added.
“In Vietnam, such a lifestyle is feasible and suitable for many investors, especially small ones,” he continued.
Meanwhile, Dinh noted second home could be considered a supplementary product for others in the tourism real estate market.
“The house can be suitable to any locality, weather, and region,” Dinh said, expecting this model to bring more benefits to tourism development.
Dinh added international tourists coming to Vietnam would love to experience the culture and daily life of locals, and prefabricated houses could be set up in remote areas or on the water surface.
Meanwhile, Lawyer Nguyen Van Loc, Chairman of the LP Group, said Vietnam currently does not have regulations on pre-fabricated or mobile houses, so they are covered by the law on Construction just like other buildings.
Loc, however, said, the pre-fabricated houses can be used in the hospitality services, as the Law on Tourism has no objection to providers of services of homestay or farm stay to use the pre-fabricated houses.
