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When the market enters a phase of restructuring, the investment problem is no longer about buying as much as possible but about selecting the asset class capable of anchoring prices through multiple cycles.
One of the most significant changes in the current real estate market is not the pace of transactions, but the way investors view risk. If in the previous cycle cash flow often expanded portfolios quickly to capitalize on rising prices, the current trend is shifting toward portfolio refinement and prioritizing asset quality.
Data from the banking system show a clearer defensive trend. According to the 2025 annual financial statements of 27 listed banks, total credit risk provisions as of 31/12/2025 reached 218.750 trillion VND, up more than 12.000 trillion from end-2024. BIDV and VietinBank are the two banks with the largest loan-loss reserves, at about 34.944 trillion and 34.810 trillion respectively. Sacombank stands out as a case where loan-loss provisions rose sharply, surpassing 20.000 trillion.
The increase in provisioning is often viewed as a signal that financial institutions are preparing for a higher-risk credit environment. When this occurs, credit flows tend to become more selective, and asset markets begin to price safety and quality higher.
As the cost of funds and credit risk rise together, speculative or highly leveraged assets lose appeal. Conversely, assets with a strong value base in terms of location and genuine cash flow generation are increasingly valued in the long run.
Buyer behavior data also reflect this shift. Dat Xanh Services’ 2025 residential real estate market report and 2026 forecast show a cautious sentiment. Apartments remain the leading category due to clear utility, while speculative product segments remain at the bottom of the list.
Another notable detail is that 79.5% of buyers say legal factors are an important criterion when choosing a project, indicating that in a more cautious market, investors care more about asset durability than rapid price appreciation.
In this context, the concept of “wealth accumulation” is being discussed more among investors. However, wealth accumulation is not simply buying property and holding long term. For an asset to truly fit a wealth-accumulation strategy, it must have a solid three-layer value base to sustain value across market cycles.
Typically, a long-term asset that preserves value must be protected by at least three value layers:
If one of these layers is missing, asset value tends to become more sensitive to market swings. In periods of rising rates or tightened credit, assets dependent on price appreciation are more prone to adjustment. Conversely, assets with a clear value foundation tend to grow steadily rather than explosively across cycles.
Thus, instead of expanding a portfolio with many different products, many investors are focusing on a few high-quality assets that maintain value better over the long term.
In this logic, The Legend Danang can be viewed as an asset suitable for a wealth-accumulation strategy. The project sits in the Dragon Bridge–Han River area, regarded as the urban core and tourism hub of Da Nang. This location not only carries the city’s symbolic value but also directly ties to tourism, services, and urban experiences.
Moreover, legal and financial policy factors around the project add extra protection for the asset in a more cautious market. Meanwhile, Da Nang’s tourism and services development outlook provides a long-term foundation for the asset’s use and exploitation in the central district.
There is a saying often cited by investors: high interest rates don’t eliminate real estate; they eliminate only weak real estate. In the current market context, this reflects how capital is moving. Investors do not abandon real estate; they are becoming more selective—and assets with a clear value base tend to attract capital in more selective market phases.
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