The sales success of Vietnam's Danang Beach Resort among local buyers surprised its developer, VinaCapital Real Estate, which had originally targeted the international market and priced accordingly. Instead, almost 95% of those who bought villas here have been Vietnamese, many from Hanoi. In the last 10 months, 70 units have been sold at an average price of $750,000.

With foreigners coming up against limits when buying property in Vietnam, the evidence of a strong local market is good news for developers.