Global Luxury Real Estate Broker Enters Vietnam Market

Sotheby's International Realty, a global luxury real estate brokerage network, has officially entered the Vietnamese market. Through its franchise partner, Vietnam Sotheby's International Realty, headquartered in Ho Chi Minh City, the firm will focus on brokering high-end residential properties within Vietnam and connecting with international real estate investments. The new entity was co-founded by Chloe Đặng and James Miles-Lambert. This marks the brand's first official presence in Vietnam, following years of facilitating transactions through its overseas offices. Established in 1976 on the foundation of the Sotheby's auction brand (founded in 1744), Sotheby's International Realty currently operates with over 26,100 advisors in more than 1,100 offices across 86 countries and territories. Last year, its global transaction value reached $182.4 billion, an increase of nearly 16% from the previous year. The brokerage has already established a presence in numerous Asian markets, including Singapore, Japan, South Korea, and China. Sotheby's International Realty's entry into Vietnam comes at a time when the luxury real estate segment is assessed by many international organizations as having significant growth potential. According to Knight Frank's annual report, Vietnam is among the markets with the fastest growth in Ultra-High-Net-Worth Individuals (UHNWIs) in Asia. The number of Vietnamese individuals with a net worth of $30 million or more is projected to increase by approximately 59% between 2025 and 2030. Furthermore, C9 Hotelworks indicates that Vietnam accounts for about 41% of the branded residences supply being developed in Asia, the highest proportion in the region. Prior to Sotheby's International Realty, international real estate service brands such as CBRE, Savills, Knight Frank, and Cushman & Wakefield were already present in the Vietnamese market. Unlike these firms, Sotheby's International Realty specializes in brokering and representing transactions of luxury homes through its global client network.