In Vietnam, golf was introduced in the early 20th century. According to data from the Vietnam Golf Association, there are currently nearly 80 active golf courses nationwide. This number is expected to reach 100 by the end of this year and progress to 200 by 2025.
The localities with the strongest golf development in Vietnam include Hanoi, Hoa Binh, Bac Giang, Quang Ninh, Da Nang, Vung Tau, Dong Nai, and Binh Duong. The enterprises involved in golf development are among the largest conglomerates in the country, such as Vingroup, BRG Group, KN Investment Group, Him Lam Group, FLC Group, and Sun Group.
In terms of the number of players, considering only regular players with a frequency of 2 games per month, Vietnam currently has about 30,000 players.
Alongside the explosion of golf courses and players, golf tourism has also become a promising industry, especially as Vietnam has consecutively been honored as the “World’s Best Golf Destination” (2019, 2021) and “Asia’s Best Golf Destination” (2017-2021) by the World Golf Awards. In 2020, golf tourism welcomed 1.5 million international visitors, 1.5 million domestic visitors, generating revenue of 4.5 trillion VND (according to the Vietnam Golf Tourism Association).
Golf Real Estate on the Rise
The flourishing of golf has created a promising market segment: golf real estate. Integrated golf property projects swiftly emerged, sparking an investment frenzy.
According to experts, golf real estate always ranks high on customers’ investment priority lists, even during periods when the market is impacted by pandemics. Data shows that affluent individuals are willing to allocate 10-15% of their total assets to own golf real estate.
There are numerous factors contributing to the special attractiveness of golf real estate, such as: prime location (within or adjacent to golf courses); rarity; high rental potential due to focusing on affluent clientele; significant growth potential in value…
According to Dr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association, golf real estate, particularly golf villas, is a high-end product aimed at serving the elite class, thus offering very high investment efficiency.
“In developed countries, prestigious real estate like this can be valued at tens of millions of USD, while in Vietnam, it’s only a few million USD. This means that the investment return in Vietnam is currently attractive. The value and exploitation potential of golf villas will likely be very good in the future. Investors in this product are investing for the long term, unlike buying land plots for short-term profit,” analyzed Mr. Dinh.