An expansion of Da Nang International Airport is expected to increase demand for vacation homes in Vietnam’s Central Coast region, Sotheby’s International Realty Affiliates LLC said today in announcing the opening of Vietnam Sotheby’s International Realty’s second office in the country.

Vietnam Sotheby’s International Realty opened its first office in Ho Chi Minh City in December 2008. The opening of a new terminal at Da Nang International Airport in December boosts the airport’s annual capacity to more than 4 million passengers a year.

"We have long considered the Da Nang-Hoi An area a key target in Vietnam’s luxury market and of particular importance for Vietnam Sotheby’s International Realty," said Michael Piro, country manager for Vietnam Sotheby’s International, in announcing the opening of a second office at the Montgomerie Links Golf Course in Quang Nam Province.

Piro said Vietnam Sotheby’s International is the exclusive representative of properties that include the newly opened Hyatt Regency Da Nang Residences, luxury pool villa residences at The Nam Hai (operated by GHM) and The Estates at Montgomerie Links.

The Sotheby’s International Realty network of independent brokerages have 12,000 sales associates located in approximately 600 offices in 45 countries worldwide. Brokerages affiliated with the network in the Asia Pacific region operate offices in Phuket, Thailand; Hong Kong; Taiwan; Japan; and New Zealand.

Sotheby’s International Realty Affiliates LLC is a subsidiary of Parsippany, N.J.-based Realogy Corp., which licenses the Sotheby’s name from the operator of the auction house.

Last month, Keller Williams Realty Inc. announced that it had signed a brokerage in Vietnam as its first overseas "master franchise," and was in discussions with potential franchisees in South Africa, New Zealand, Indonesia, Egypt and several Middle Eastern countries.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription