A Human-Centric Life, in Bao Loc.
■ Vietnam's resort real estate.
・Recent news: "Vietnam's resort real estate shows signs of supply recovery in some regions, with new supply in the first quarter of 2025 increasing by 8-18% compared to the same period last year."
・In the same quarter, "10,667 new properties were supplied to the market, a 7% increase year-on-year. Notably, over 150 new resort villas were supplied, marking a 57% increase compared to the same period last year."
・By region, "the central and southern areas account for over 76% of the total. More than 3,500 resort townhouses were circulated, though much of this was due to the release of existing inventory."
■ Condotels.
・Regarding condotels (hotel-style apartments), "supply increased slightly, but this sector also remains inventory-focused." Meanwhile, "the number of transactions reached 623 units, an increase of about four times compared to the same period last year. The absorption rate for condotels and villas improved to 6-10%, up from 1-3% the previous year."
・However, "demand is concentrated on new projects with established legal frameworks and smooth construction progress, with the mainstream price range being under 56 million yen per villa and under 16.7 million yen per condotel."
・"This recovery is backed by the resurgence of the tourism industry. In the first three months of 2025, the number of foreign tourists visiting Vietnam exceeded 6 million, a record high on a quarterly basis. Tourism revenue also increased by 18% year-on-year, reaching 1.2008 trillion yen. Growth was particularly notable in regional cities such as Khanh Hoa, Da Nang, and Kien Giang, in addition to Hanoi and Ho Chi Minh City."
・Nevertheless, "this recovery trend is regionally limited, and structural issues such as legal challenges and low profitability still exist. Many older projects remain as inventory, and there are not a few cases where they are left abandoned without sales progress."
■ Bao Loc City, Lam Dong Province.
・As an aside, the highland city of 'Da Lat' in Lam Dong Province is located about 7 hours by car north of Ho Chi Minh City. It is characterized by a cool climate year-round and was developed as a summer retreat during the French colonial period. Because the fruit and food are delicious, and one can enjoy a leisurely time listening to the chirping of small birds, it remains a very popular tourist area for Vietnamese people today. Traveling 2 hours south from that city brings you to 'Bao Loc City.' This area has also been attracting attention as a summer retreat for about five years; interest from investors and developers is rising, and highway construction plans are underway.
・I once visited 'Bao Loc City' with a Vietnamese friend who has invested in and owns land in this area. The highlands were lush with various plants such as terraced rice fields, tea plantations, coffee, sesame, and mulberry, making the scenery even more vivid. Thanks to him, I enjoyed a banquet at an investor's villa, connected with local farmers, visited a building where swallows were likely nesting inside, was shown a room where silkworms were eating mulberry leaves, and was given locally harvested wood ear mushrooms as a souvenir on my way home.
・The farmer said to my friend, 'When are you going to move from the city to Bao Loc?' With his innocent smile and good-natured expression, he had lived a life stripped of pretense as much as possible, living naturally. That proof seeped into his eyes, his tone of voice, and his demeanor. At the same time, I felt that living and surviving in a place like this, near him, might be a viable way of life—or rather, that one could lead a life overflowing with human warmth. This land has that kind of power, and I feel happy to have met them.