Hanoi's new inhabitants have chosen a project at Southwest Linh Dam

DNHN - The southwest of the capital is one of the most appealing places for new Hanoi residents. The multi-use apartment building on the rare earth fund in Linh Dam peninsula, in particular, is popular in terms of both settlement and investment.

Apartments priced between 3 and 4 billion VND are in high demand.

Hanoi has around 660,000 students from various provinces and cities. Many decided to stay in the capital to work. This is the mechanical population, which has been steadily growing throughout the years.

According to McKinsey's recent analysis of the formation of a new consumer class in Vietnam, the country's middle class might grow by 36 million individuals over the next decade, expanding to many areas around the country

These two causes contribute to a growing trend of foreigners purchasing homes in Hanoi to support their children's education and employment. According to the Vietnam Real Estate Brokers Association, foreign visitors account for 30% of apartment demand in Hanoi.

They have a lot in common when it comes to product discovery. According to Mr Do Van Kien, General Director of PropertyX Hanoi, "for consumers with cash, they "target" mid- and high-end apartments in the 3-4 billion VND/unit pricing range." Young families that wish to relocate to Hanoi frequently employ the financial assistance package, which prioritizes 2-bedroom flats."

According to Mr Kien, the safety aspect is very important to real estate purchasers from the provinces when purchasing a home in Hanoi. They frequently select items from reputed investors and developers that have been proven and tested via past building projects, or they purchase completed projects. Projects near the capital's entrance, in particular, are frequently picked. The rationale for this is that this position is critical in encouraging economic integration and growth by acting as a connecting and linking link. The traffic infrastructure system is always focused on investment, allowing citizens in provinces and cities to conveniently commute to Hanoi. Connecting to inner city areas through arterial highways from the entrance area is also quite convenient.

Southwest Linh Dam is vibrant.

The Hanoi apartment market draws purchasers not only for actual living but also for investment. This is because Hanoi apartment prices have risen steadily in both the primary and secondary markets in recent years.

The average selling price of main apartments in Hanoi in the second quarter of 2022 was $1,872/m2, up 27% from the same time the previous year, according to CBRE's Hanoi real estate market study. By 2024, the rise is expected to reach an average compound annual growth rate of 8-10%. Not only the primary market but also the secondary market experienced significant price increases. According to the CBRE research, the average secondary selling price for the whole market reached 1,293 USD/m2, which is 9% higher than the same period last year. According to Savills' market research, apartment prices in Hanoi would have climbed for 12 consecutive quarters by the end of the fourth quarter of 2021. This rising trend is expected to continue throughout the first two quarters of 2022.

The constant and consistent growing momentum gives apartments an "opportunity" in the investment market, instilling faith in genuine value and long-term development with international investors who choose the safety and security of flats.

The apartment market in Hanoi's south is a popular location for new residents and international investors. This is a critical link in the inter-provincial connection with several northern provinces, including Nam Dinh, Thai Binh, Ha Nam, Ninh Binh, and others. The South of Hanoi has made a breakthrough with that bridging function. The traffic infrastructure is magnificent, with trillion-scale projects like the low flyover over Linh Dam Lake; the ring road 2.5 is 40m wide; the project to quadruple Tam Trinh road linking Mai Dong bridge to Ring road 2.5,...

Linh Dam peninsula, for example, is the main centre of the real estate market south of Hanoi. The Linh Dam region has the benefit of not only having a synchronized and seamless transportation system in terms of traffic infrastructure but also of having a distinctive scenery that is uncommon in other parts of Hanoi. Linh Dam peninsula is one of the most beautiful and largest in Hanoi, with an area of 200 hectares, of which the lake system is about 70 hectares broad, providing people with an airy and fresh living environment.

The affordability of real estate in the Linh Dam neighbourhood, which is only roughly 70-80% of that of other packed inner-city districts, adds to its allure.

However, in recent years, this area has become exceedingly sparse. As a result, the arrival of Hanoi Meloy Residences - the first multi-utility apartment complex in Southwest Linh Dam - has sparked a market frenzy by drawing a significant number of clients, including new residents and investors from all over the world. provinces.

When placed in the final rare earth fund of Southwest Linh Dam - keeping the "heart" location of the core urban southwest of the capital with 4 large, neighbouring entrances - Hanoi Melody Residences gained points with foreign investors. Ring Road 3 and National Highway 1A are nearby, providing handy inter-provincial links and arterial highways to the city core. Rich utility system, including an internal kindergarten, three basements for clever parking, a strolling garden, a swimming pool complex covering about 1000m2, a podium shophouse, a roomy 2-3 bedroom apartment... lifestyle requirements, confirming the upside potential.

Real estate investors and purchasers may rest easy knowing that this property is being built by Hung Thinh Land, one of Vietnam's most prominent real estate organizations.

P.L