China and Russia buyers flock to luxury homes in Southeast Asian resorts

Big projects underway in Thailand's Phuket, Vietnam's Danang

20240229N Phuket luxury home

A rendering of luxury housing being developed by Central Group in Phuket. (Central Group)

KENYA AKAMA and YUJI NITTA, Nikkei staff writers

BANGKOK/HANOI -- Resort areas in Southeast Asia have emerged as luxury housing hot spots, with leading developers pursuing large projects in places like the Thai island of Phuket that cater to wealthy people from China and Russia who are planning long-term stays.

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