The real estate "wave" sweeps out of Hanoi's centre

DNHN - The emphasis of Hanoi's real estate market is migrating away from the city centre and into the suburbs. The busiest area is in the capital's east, where there are international-scale megaprojects.

East of Hanoi is the "Golden Land."

According to Savills Vietnam, satellite areas, provinces, and cities near Hanoi are increasingly becoming the primary supply of housing for the capital's residents, and this role will grow in importance in the future. The five forthcoming areas will account for 36% of the housing supply starting in 2023. In this market, the villa and townhouse segments are likely to rise rapidly. 

Creating this trend is linked, first and foremost, to the strengthening of infrastructure, particularly traffic, which helps to close the gap with the old core. The advent of many significant projects in recent years, including the Dong Tru bridge, the Hanoi-Hai Phong highway, the roundabout leading to the Vinh Tuy bridge, and so on, has resulted in a "makeover" of urban quality.

When the ring road 2.5 - 3 - 3.5 - 4, 10 additional bridges over the Red River, and metro lines are finished, the ability to link to any location in the capital will be stronger.

Traffic "moves forward," resulting in a robust investment surge. A slew of real estate developers has made the "shift" to the Red River's East bank with multibillion-dollar developments, eventually developing a new market emphasis.

The projects deployed in the eastern part of Hanoi typically own big areas, have circumstances for monumental landscape design, and comprehensive amenities to provide a new living experience. This is also similar to the shift in real estate market "taste" after the Covid-19 epidemic.

As a result, clients' criteria for selecting a place of residence are increasingly concerned with the environment, living space, utilities, and service quality. This is also the basis that generates 70% of the current value of real estate items.

Vinhomes' "waves" brand.

Vinhomes is one of the names that has executed a deliberate "Eastward" approach, resulting in significant transformation for the whole region. When this company debuts new initiatives, the market experiences tremendous waves and multiple sales records. The goal here is to react swiftly to global trends, generating new living standards in major cities.

For example, when Vinhomes Riverside initially joined the market more than ten years ago, investors saw for the first time a real ecological urban environment. The building density is a little over 20% on a total area of more than 183 hectares.

The remainder of the area is dedicated to trees and water surfaces. The homes, in particular, are encircled by an 18.6-kilometre-long biological river. The city is gradually being overrun by costly nature living. This is also one of the factors that have contributed to the sustained growth in real estate values in this metropolitan region over the last 11 years.

The Vinhomes Ocean Park megacity, which is identical to the "Ocean district" and was officially launched in 2018, is likewise breaking the record of "available for sale, sold out."

The appeal of the urban environment The 420-hectare town enjoys the privilege of living among the charms of the sea and lakes, with the 6.1-hectare saltwater lake and the 24.5-hectare centre freshwater lake being the centrepieces. There is also a dense utility infrastructure, which provides people with high-class living circumstances and helps things in the "Ocean district" grow swiftly. 

The stunning debut of Vinhomes Ocean Park 2 - The Empire at the end of April "wakes up" the market in the East of Hanoi. The ecological urban area of about 458 hectares has been compared to a "seismic" during the economic recovery phase after the pandemic when the number of orders reached over 5,000 units immediately when it was introduced. 

The attraction is made up of several world-class facilities, including the Royal Wave Park artificial wave park complex, which is the largest in the world at 18 hectares; Empire Central Park, which is more than 7.5 hectares wide; Silk Park canal park, which is more than 2.6 kilometres long; Kingdom Avenue of Lights, which is 5.8 hectares wide...

Along with the benefit of a premium "diamond location" and full transportation infrastructure, the possible price growth of Vinhomes Ocean Park 2 - The Empire is also predicted to follow Vinhomes' prior low-rise developments in the Hanoi East region.

Binh Phuong