Sotheby's International Realty Affiliates, the international referral firm for luxury real estate, has opened its second office in Vietnam.

The new branch, located at the Montgomerie Links Golf Course in Quang Nam Province, confirms Vietnam's status as a key market for luxury real estate, the firm said in a statement. It is led by Michael Piro, country manager, alongside its pioneer branch in Ho Chi Minh City which opened in 2008. Elsewhere in Asia, Sotheby's holds operations in Thailand, Hong Kong, Taiwan, Japan and New Zealand.

Sothebys International Realty was established to build a link between independent brokerages and realty firms with the most prestigious clients in the world. The decision to open in the Da Nang-Hoi An area brings the firm closer to its target luxury market, being the exclusive representative of the area's most prestigious properties, including The Nam Hai luxury villa residences and The Estates at Montgomerie Links, the country's most exclusive golf community.

Sotheby's said that in 2012 it will continue to establish a presence and expand in Asia-Pacific markets not currently represented by its brand.