The concept of a “model senior care facility” has turned numerous expansive plots of land with stunning views and convenient transportation into the spotlight.
Investment Buzz
One of the pioneering companies in this trend is Vingroup, which recently launched Vin New Horizon—Vietnam’s first international-standard senior living and retirement services complex in Can Gio, Ho Chi Minh City.
Mr. Nguyen Viet Quang, Vice Chairman and CEO of Vingroup, stated that the project aims to create a “Horizon of Happiness” for the golden-age generation, enabling seniors to live healthily, joyfully, and meaningfully. According to him, the Vin New Horizon model is designed to cater to diverse needs, from daytime services and short-term stays to comprehensive healthcare, specialized therapy, and lifelong care for solitary seniors.
Listings for buying and selling land for senior care facilities are increasingly common on real estate platforms.
Online real estate platforms are seeing a surge in posts like “Seeking land for senior care facilities or resorts in the Central Highlands or Southeast Region,” attracting hundreds of responses.
Mr. Nguyen Van Thien, a real estate agent in Lam Dong, reported that in the past two weeks alone, numerous clients have sought 20-30 hectare plots for senior care facilities. Meanwhile, Mr. Cong Bang, an agent near Ta Dung Lake (Lam Dong), noted that many buyers are willing to pay a premium for plots with clear titles, prime locations, and robust infrastructure, though most are still “carefully considering” due to uncertainties about healthcare and commercial service planning.
As demand for land purchases rises, the market is also witnessing a wave of land sales catering to the senior care trend. In Dong Nai, a 1-hectare plot in Bien Hoa is listed for over 130 billion VND, marketed as “ideal for temples, senior care facilities, or resorts.” Another project in Vinh Cuu, spanning 11,500 m² and featuring an existing senior care facility and basic infrastructure, is priced at over 100 billion VND. Despite many projects being incomplete or lacking full permits, land prices continue to soar.
Avoid Following Trends Blindly
Mr. Doan Quoc Duyet, Director of Tin Thanh Real Estate Company, believes the trend of investing in resort and senior care real estate is making a strong comeback. However, he warns that most projects focus on “enhancing land value” for resale rather than developing comprehensive service models. “Without specialized healthcare and wellness providers, these projects struggle to deliver real value. A genuine resort or senior care facility requires not only a beautiful location but also a favorable climate, robust healthcare infrastructure, convenient transportation, and proximity to highways and airports to ensure health and safety,” he explained.
Mr. Duyet also noted that many buyers purchase outlying land with dreams of building retirement havens but often fail due to inadequate planning. “Investing in senior care facilities cannot be driven by emotion. This field demands deep expertise, substantial capital, and a strong sense of purpose. Senior healthcare services cannot be pursued as a fad,” he shared.
Urgent Need for Specific Standards
From a research perspective, Dr. Pham Viet Thuan, Director of the Ho Chi Minh City Institute for Natural Resources and Environment, views the development of senior care and resort projects as essential given Vietnam’s rapidly aging population. However, he stresses the need for state involvement to ensure synchronized planning, integrating housing, wellness centers, rehabilitation facilities, and healthcare services. “Investors should avoid trend-chasing, as it often leads to speculative bubbles. Without proper planning, many are drawn into overpriced agricultural land, resulting in significant losses,” he cautioned.
According to Dr. Thuan, for sustainable growth in this segment, the government must swiftly implement land-use control mechanisms for senior care projects and establish technical, healthcare, and social service standards. Only through collaboration among authorities, businesses, and communities can humanitarian projects like senior care facilities truly benefit society and citizens.
Lack of Legal Framework
From a regulatory standpoint, Deputy Minister of Health Nguyen Tri Thuc emphasized that building senior care facilities is complex, as they must provide a holistic environment addressing physical health, mental well-being, and social engagement for the elderly. He highlighted the current shortage of specialized personnel and standard infrastructure, calling for inter-sectoral collaboration and long-term vision from both the government and businesses.
Architect Truong Nam Thuan, representing Thien Nam Anh Investment Consulting JSC, pointed out that Vietnam lacks a dedicated legal framework for senior care facilities. Regulations on elderly care are scattered across various documents, including the 2009 Law on the Elderly and Decree 20/2021/ND-CP, along with several guiding circulars. This absence of a clear legal framework makes it difficult for private facilities to establish their legal status and development direction. Therefore, he proposed a national strategy for elderly care systems, with specific land-use and infrastructure planning linked to urban development and social security systems.
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