Savills: Dalat’s Potential as a Haven for the Ultra-Wealthy

This is a perspective shared by Ms. Do Thi Thu Hang, Senior Director of Consulting and Research at Savills Hanoi.

Da Lat, with a history of over 130 years, has long been known as the “City of a Thousand Flowers,” the “City of Mist,” and the “City of Love.” Its year-round cool climate, picturesque natural scenery with pine forests, lakes, and lush tea hills have solidified Da Lat’s reputation as a prominent tourist destination, not only domestically but also internationally.

Compared to other mountain tourism markets like Sa Pa, Da Lat boasts advantages in terms of scale, cultural diversity, and sustainable development potential. While Sa Pa stands out for its ethnic minority culture and distinct cold climate, Da Lat offers a harmonious blend of nature, antique architecture, and high-tech agriculture.

When compared to coastal destinations like Da Nang, Phu Quoc, and Nha Trang, Da Lat offers not only a mild climate but also unique resort experiences. While Da Nang, Nha Trang, and Phu Quoc have already witnessed significant growth with the presence of numerous international brands such as InterContinental, Marriott, and Accor, Da Lat is currently in its “golden phase,” where its potential remains untapped.

The lack of prominent resort brands, from another perspective, presents an opportunity for Da Lat to attract pioneering investors willing to propel the city onto the international stage. Ms. Nguyen Thu Hang, Senior Director of Consulting and Research at Savills Hanoi, asserts: “Da Lat is on the cusp of exponential growth. What Da Lat lacks – such as international brands or comprehensive infrastructure – are actually opportunities for the city to shine. Da Lat is witnessing significant investments, especially in transportation and tourism infrastructure, and it has the potential to become a destination for the ultra-wealthy, akin to renowned mountain resorts worldwide like Aspen (USA) or Davos (Switzerland).”

Ms. Hang emphasizes that Da Lat possesses unique attributes that are hard to come by in other cities: an ideal climate, a diverse natural landscape, and an established tourism brand. However, to attain international stature, the city requires the presence of prominent brands and a sustainable development strategy focused on premium resort real estate and ancillary services.

Da Lat is poised to become a hot spot for real estate investment in the coming years due to several factors. Firstly, the development of transportation infrastructure, including the Lien Khuong – Bao Loc and Bao Loc – Tan Phu highway projects, is being expedited, reducing travel time between Da Lat, Lam Dong, and neighboring areas. Notably, the journey from Da Lat to Ho Chi Minh City will be shortened to just three hours.

Secondly, Lien Khuong Airport, located approximately 30 kilometers from the center of Da Lat, is the first international airport in the Central Highlands, with a capacity of 5 million passengers per year. In March 2026, the airport will temporarily close for an upgrade. The project entails extending the runway to 3,250 meters in length and 45 meters in width, constructing a turning pad, improving taxiways E1 and E2, and enhancing the braking strip, drainage system, aeronautical ground lights, and signage, with a total investment of over VND 1,045 billion.

According to the plan, by 2030, the airport will be upgraded to a 4E-class airport, capable of accommodating wide-body aircraft such as the Boeing 787 and Airbus A350, serving 5 million passengers and 20,000 tons of cargo annually. Post-2030, the runway will be further extended to 3,600 meters, increasing the capacity to 7 million passengers per year, thereby facilitating tourism and logistics.

In addition to infrastructure developments, Da Lat’s investment attraction policies are also advantageous. The local government of Lam Dong province, especially after the merger with Binh Thuan and Dak Nong provinces, is implementing various incentive policies to attract investments in tourism, real estate, and high-tech agriculture. The decision to establish Da Lat as the administrative-political center of the new province underscores its importance and potential.

Da Lat’s rapid development has fueled the demand for upscale tourism. While destinations like Da Nang and Phu Quoc are nearing saturation with a dense presence of international brands such as Hilton, Sheraton, and JW Marriott, Da Lat still offers ample opportunities for unique, high-quality new developments. This presents a chance for pioneering investors to collaborate with international brands and create global-standard resort real estate products.

Da Lat is currently at an ideal juncture for real estate investors to anticipate trends. With robust infrastructure development, investment attraction policies, and growing demand for resort products, the city is not just a tourist destination but also an opportunity for premium real estate projects. Compared to saturated markets like Da Nang, Nha Trang, and Phu Quoc, Da Lat offers more reasonable investment costs and long-term price appreciation potential.

“Da Lat is not just a place for investment but also a place to create value. Investors who seize the opportunities during this phase will be the pioneers in shaping the future of Vietnam’s resort real estate market,” said Nguyen Thu Hang.