The rich choose a 'quietly rich' living environment
Quiet Luxury (rich in silence), Old money style (simple style but still exudes wealth and power) or Stealth wealth (hidden wealth) are becoming the identifying characteristics of the world's super-rich, including Vietnam. Not only fashion, super boats, private planes, Quiet Luxury living spaces are appearing more and more, in big cities, coastal cities, even local cities... to meet the "quietly rich" living needs of the "new generation of rich".
The lifestyle of the secretive rich
Esher is a suburb of London, if you drive on the highway through this area, you will see nothing special except... luxury cars calmly driving on the road and rows of green trees quietly but looking at it, you can see that it is taken care of down to every leaf. For centuries, Esher has been an area reserved for aristocrats and many members of the British royal family, the old aristocratic business class live. The average house price in this area is 2.41 million USD and the population is only less than 7,000 people.
On Savill’s sales page, searching for houses in Esher in early August 2024, there were only 3 villas for sale, a small villa, area of 176.52m with 4 bedrooms called Fairmile Lane priced at 1.250 million dollars. While another villa, also 4 bedrooms, area of 150m called Raglan Close was offered for nearly 1.4 million dollars.
Unlike Esher, Saint-Germain-des-Prés, the 6th arrondissement of Paris, which looks quiet and poetic on the Seine River, is the most expensive place to live in France. The average house in Saint-Germain-des-Prés sells for 3.98 million euros, or $4.2 million.
Port Royal in Naples, Florida is also known as one of the Quiet Luxury’s favorite neighborhoods due to its prime location right on the beaches of the Gulf of Mexico with homes that have direct access to the ocean. The median home price in this sparkling seaside neighborhood is $17.9 million.
The common feature of these quiet luxury areas is the unique, sophisticated, luxurious living space, the high-class amenities are served privately, the houses are expensively furnished, the expensive, unique exteriors, every centimeter of their living space exudes a different enjoyment but is not ostentatious but especially private and discreet. It is exactly like the way they own expensive, custom-made clothes from the world's leading fashion houses, served privately but without any logos or labels.
“Rich people like to show off, rich people really like everything discreet. Rich people really don’t need to Flex how rich they are, they enjoy a sophisticated, classy life where every centimeter of their living space exudes the owner’s status, that is the lifestyle they really desire and choose”, Jack Nguyen, a global real estate consultant, shared his experience when contacting and selling houses to quite a few luxury customers in the Southeast Asian region.
Central Island Villa -The new focus of Quiet Luxury real estate
Known as a country with a rapidly growing super-rich population, the rich in Vietnam also live in the Quiet Luxury style, not only in fashion but also in unique living spaces. Unlike the previous generation, the young rich, today's young entrepreneurs do not live in ostentatious gold-plated villas in the middle of crowded, cramped streets, they choose branded real estate, living in areas with quiet wealthy communities. This trend leads to the need to own luxury, limited real estate, in a rare collection with a peaceful living space, pristine nature, lots of green, good for health, worth millions of dollars.
Mordor Intelligence recently forecasted that Vietnam's luxury real estate segment will grow by 3% from now until 2027. The number of wealthy local and international people with a need to own luxury real estate is increasing, and may even become a hot spot in the Asia-Pacific region.
Serving the increasingly young wealthy is the "target" of many leading real estate developers, but not all investors have land funds, prime locations, and the right "playfulness" and taste to put effort into satisfying the super rich. Listing projects in Vietnam, investors who are making Quiet Luxury real estate products can be counted on the fingers. Among them, the pioneer must be the founder of Ecopark with the luxury island villa subdivision Ecopark Grand - The Island in Ecopark Hung Yen and most recently the Central Island villa in Nghe An.
If Ecopark Grand - The Island is inspired by Palm Island and is shaping up to be the residence of the Northern elite, the Central Island villa area at Eco Central Park (Vinh City, Nghe An) is inspired by Eastern European villas, the latest real estate product of the founder of Ecopark developed according to the Quiet Luxury lifestyle.
Central Island villas are “tailor-made” for the new generation of elite owners, helping owners live in a private, secluded space of unique single and twin villas in the middle of nature.
Each villa here is surrounded by green landscape and water. The front is an internal road, helping homeowners conveniently connect to modern utilities. The back of the house is a park or riverside to help homeowners enjoy the value of nature. Along with that is a series of high-class utilities, personalized exclusively for island villa owners. The Wellness Clubhouse complex is 3,000m2 wide.2, with full space and advanced health care equipment to help residents proactively take care of their health, restore energy, and balance body - mind - spirit; 24/7 security system, isolated and confidential, along with modern technology and strict training and monitoring processes similar to resorts around the world.
Setting a new standard of living with exclusive privileges for the new generation of rich people, not only developing in central cities, but also in potential localities. Quiet Luxury real estate in the Ecopark ecosystem is a golden proof that the forecasts and comments of Mordor Intelligence, New World Wealth or Knight Frank on the growth rate of the super-rich as well as the trend of making Vietnam the center of high-end real estate, Quiet Luxury real estate is completely grounded and will be a particularly prominent and extremely interesting trend in the global real estate market.
