The founder of ThirdHome, the globally renowned vacation exchange club for luxury villa owners, has just arrived in Vietnam with the ambition of turning the S-shaped country into a new focal point for the high-end resort tourism market in Southeast Asia.
On the afternoon of November 26 in Ho Chi Minh City, Mr. Wade Shealey, Founder and Chairman of ThirdHome, a vacation exchange club for owners of luxury holiday properties in destinations such as the Maldives, Phuket, Miami, and Tuscany, met with Vietnamese media for the first time.
Mr. Wade Shealey, Founder and Chairman of ThirdHome, expressed his excitement during his first visit to Ho Chi Minh City. PHOTO: LÊ NAM
"We have come to Vietnam and witnessed a market growing at a remarkable pace, both in terms of demand and product quality. Vietnam is now among the fastest-growing destinations in the world for second homes, beach resorts, wellness tourism, and luxury accommodation models", Mr. Wade Shealey commented.
According to Mr. Shealey, the most sought-after areas include Da Nang, Phu Quoc, Nha Trang, and Binh Thuan. These locations offer a high-quality inventory of second homes, prime locations, and promising prospects for sustainable development.
ThirdHome currently operates more than 7,000 luxury second homes in Mexico. Therefore, he expects that Southeast Asia, including Vietnam, could achieve similar or even greater growth rates in the future.
The luxury vacation exchange club ThirdHome makes its debut in Vietnam. PHOTO: ORGANIZING COMMITTEE
According to ThirdHome representatives, luxury travelers to Vietnam tend to seek experiences they cannot find in Europe or the United States. A secluded villa on a small island, a house with a garden facing the sea, or a wellness lifestyle by a mineral spring are all considered "unique" offerings.
A prime example is a villa on a small island in Con Dao, which is part of the ThirdHome network. For Europeans, this is a rare experience. They are willing to fly several extra hours to enjoy the absolute privacy that such a location provides, something unavailable elsewhere.
Mr. Wade Shealey shared that the club was founded in 2010, inspired by a simple yet strategic question: "How can second home owners optimize their investment"? He realized that millions of vacation villas worldwide remain vacant for months each year.
From this, he developed a platform that allows villa owners to exchange vacation stays with each other through a points system, enabling them to make use of their property's "idle time" to experience thousands of other homes around the globe.
What is the branded residence trend?
Although there is no universally agreed-upon definition, Branded Residences can be understood as properties associated with a brand to create a premium living and vacation experience, ranging from beachfront apartments and villas to urban residences, spanning from upscale to luxury segments.
The top 10 global Branded Residence markets, as ranked by Savills, include both Thailand and Vietnam, highlighting the growing prominence of Asia in the coming decade. PHOTO: LÊ NAM
Asia is forecast to see strong growth in the next decade. Dubai leads the way, while Vietnam and Thailand are both among the top 10 fastest-growing markets.
In Vietnam, Branded Residences first appeared more than 12 years ago, mainly in the coastal segment. Urban projects remain limited, with only a few developers such as Masterise Homes making significant progress. However, the pace of expansion is accelerating—from just two brands initially, the market now features nearly 25 international brands, led by InterContinental, Marriott, and Meliá.
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