The recovery in tourism - boosted by visa-free policies and an increase in international arrivals - is driving demand for accommodation and experiences, accelerating the rebound of Vietnam’s key resort and tourism real estate markets.

On August 8, 2025, the government issued Resolution No. 229/NQ-CP, granting visa exemptions to citizens from 12 countries from August 15, 2025, to August 14, 2028. Also in August, Decree No. 221/2025/ND-CP was introduced, offering temporary visa waivers to foreigners in special categories essential to socioeconomic development.

Earlier in March, Resolution No. 44/NQ-CP had already granted visa waivers to citizens of 12 nations. In total, Vietnam is now unilaterally offering visa exemptions to 24 countries, mostly in Europe. Notably, from August 2023, the visa-free stay period was extended from 15 to 45 days.

This administrative breakthrough strengthens Vietnam’s competitiveness as a destination in the region, especially for long-stay, high-spending tourists.

According to the General Statistics Office, international arrivals to Vietnam in 2024 reached 17.6 million - a 40% increase over 2023 and 98% of the pre-pandemic high in 2019. A significant portion of these travelers came from visa-exempt countries. Among the top 10 fastest-growing source markets were Russia, Italy, Sweden, and France - countries recently added to the visa-free list.

Visa-free policy fuels resort sector optimism

In the first half of 2025, international arrivals reached 10.7 million, a 21% year-on-year increase and nearly 26% higher than in 2019. Notably, visitors from Poland rose 44%, and those from Switzerland increased by 10% year-on-year, according to the Vietnam National Authority of Tourism.

This rapid growth in international tourism has led to soaring demand for accommodation and leisure, supporting a stronger recovery in major resort real estate markets. Occupancy rates have improved markedly.

Survey data from the Vietnam Association of Real Estate Brokers (VARS IRE) and local departments of culture, sports, and tourism show that 4- and 5-star hotels in key destinations now report occupancy rates of 70–90%, with full bookings during holidays and revenue per room up 20–30% year-on-year.

Destinations leading the charge include Da Nang, Nha Trang, and Phu Quoc - locations with well-developed infrastructure, strong branding, and clear international tourism strategies.

This resurgence has helped stabilize and even increase the value of resort properties. While no dramatic price spikes have been recorded, the wave of distressed selling has mostly ended. Investor confidence is returning, and some secondary projects have seen resale prices climb 5–10% in the past year.

Meanwhile, high-end resort projects are being relaunched, and developers have resumed sales, achieving promising transaction volumes.

VARS IRE believes the visa-free policy will continue to support occupancy recovery and attract new real estate investment. Developers are expected to leverage this momentum to relaunch stalled projects in key tourism hubs.

Moreover, maintaining and expanding visa exemptions helps shape long-term strategies for the resort property sector. The influx of long-stay, high-spending visitors is prompting developers to focus on premium products, including beachfront villas, international-standard resorts, and luxury condotels.

To accommodate growing tourist demand, many localities are also prioritizing investments in essential infrastructure such as airports, seaports, and road networks. These upgrades not only enhance tourism capacity but also boost overall real estate value in surrounding areas.

In the long run, the visa-free policy enhances Vietnam’s appeal as a destination for both leisure and long-term investment. It helps attract and retain high-value groups, from long-term tourists and international professionals to investors seeking vibrant business opportunities and quality living environments.

Some repeat international travelers are even looking to buy property for long-term residence, retirement, or investment purposes. As a result, the resort real estate market is benefiting from both short-term tourism demand and a foundation for sustainable long-term growth.

The visa-free policy is a crucial “lever” enabling Vietnam’s tourism industry to rebound quickly and sustainably post-pandemic. However, to convert this into a breakthrough for resort real estate, developers must offer distinctive products and experiences to remain competitive regionally.

This includes diversifying offerings, integrating wellness-focused tourism, and promoting nighttime economy projects that encourage longer stays.

Simultaneously, the government must address legal hurdles and build a transparent, stable investment environment to strengthen investor confidence both domestically and internationally.

PV