HA NOI (Biz Hub) — Incentive policies, good natural conditions and a prime location give real estate projects, especially the luxury projects in Phu Quoc the best potential to grow and attract investors.

The UK-based Financial Times last month considered Viet Nam as a country with the potential to become a global tourism destination, implying that it could enhance foreign capital in the local real estate market.

Last year, Viet Nam eased the regulation on housing for foreigners. Under this rule any foreigner with a valid visa, whether resident or tourist, could now buy property on a 50-year leasehold, with options for extension, the newspaper said.

At the same time, the report of local authorities of the island said that specific policies for Phu Quoc helped it to gain approval for 65 projects with an area of 1,709ha in the last two years. So far, the island was home to 236 projects with the total investment of about VNĐ312 trillion.

The island would become more attractive as Phu Quoc authorities were also seeking more incentives for the island as a special administrative economic zone.

Phan Thi Hoa, an investor in HMC City decided to buy a villa on the hill in the Premier Village Phu Quoc Resort and enjoy the profit sharing programme offered by its investor, the Sun Group after studying that the gorgeous island has mostly no storms in the entire year.

Hoa said it had great potential to woo tourists to the island compared to other coastal areas with frequent storms not only in Viet Nam but also in the regional sites.

In particular, one of the reasons she chose Premier Village Hoa Phu Quoc Resort was because the project stood at one of the most beautiful locations on the island, and it would attract a number of people, especially rich tourists there to spend their holidays.

In addition, Hoa said the price of luxury accommodation was relatively low in the last few years, and now it would be rising.

Agreeing with Hoa on the potential for investment in the Sungroup's resort, Marc Townsend CEO of CBRE Vietnam, added that the good reputation of the investor and the manager as well as the perfect location would help the project woo a lot of investors. Troy Griffiths, deputy managing director of Savills Vietnam, said that profit ratio of 9 per cent during the nine years given to buyers of the resort real estate was a maiden incentive profit scheme all over the world.

Sun Group said it would launch two more sale events for the Premier Village Phu Quoc at Daewoo Hotel in Ha Noi and Park Hyatt Hotel in HCM City on April 24 when it would offer each buyer who subscribed to the property within the day a bank card worth VND200 million. — VNS