Vietnam’s super-rich are indulging themselves in buying luxury yachts worth millions of US dollars.

Vietnam has around 2,000 people who are publically-known to hold assets of more than USD5 million each. The figure is forecasted to continue rising, which may fuel the higher demand for luxury yachts.

More Vietnam’s super-rich buy luxury yachts

The most expensive yacht in Vietnam is the USD4-million Azimut 70, which is owned by the family of actress Tang Thanh Ha's husband. Actress Diem My in HCM City has also used a USD2-million Sunseeker for many years.

Chairman of Tuan Chau Group Dao Hong Tuyen in Quang Ninh Province owns five yachts, including three large boats. In Nha Trang City, Bui The Vinh, Dierctor of Hai Au Ltd. Co. has recently bought a VND10-billion yacht. Meanwhile, many other affluent and better-off people have also followed the suit.

Azimut Yachts Vietnam Ltd. Co. has opened a representative office in Vietnam to bring more products to serve local rich people. The prices range between USD450,000 and USD25 million each, said the company director Kirill Kuatov.

According to director of a boating service company in HCM City, an increasing number of city residents have paid for deluxe vessels.

Kuatov also noted that each year, costs for a yacht accounted for 3-5% of its value, including salary for crew, wharfs and maintenance.