The growing promise of tourism that focuses on a more "local experience" has led many to open their own homestay business.
According to a recent report on Nguoi Lao Dong, in popular tourist destinations like Da Lat and several provinces in the Mekong Delta, land prices are increasing because of high demand for homestay services.
While looking for land to buy for his new homestay business, Saigon native Nguyen Van Binh was shocked to find that land prices in Da Lat are up to three times more expensive than a year ago. Binh is not the only one to witness such a surge in land price.
Pham Minh Trang, the owner of a 3,000-square-meter area near Prenn Pass in Da Lat, also told the news source that she bought the land for VND1.5 billion (roughly US$65,000) last year, and has recently received offers to buy the plot for as much as VND3 billion (US$129,000).
Homestay services are also booming in the Mekong Delta, according to Nguoi Lao Dong. Dung, a land broker in in Cai Lay, Tien Giang Province, said that since late 2017, demand for land plots that can be used to build homestays has skyrocketed.
Hai Nhi, a tour guide, told the paper that people are flocking to the Mekong Delta to invest in land for homestays. Even local residents are starting to turn to the new business model, where the main appeal is the live-like-a-local experience that they offer.
