HANOI REAL ESTATES ATTRACT FOREIGNERS

Vietnam’s real estate market, including Hanoi real estate, is becoming a lucrative “piece of cake” for foreign investors. In particular, the increasing number of foreign experts and businessmen coming to Hanoi to go on business, work and live means that the demand for real estate ownership in Hanoi will also increase.  

According to the “skilled” real estate investors, the West and North of the Capital are appreciated as high attraction to foreign investors by investors. Notably, the Western region is a hot spot to attract foreign customers from Korea, Japan, Malaysia, Singapore … buy and rent high-end apartments. 

Market full of potential

In the age of globalization, more and more foreigners are living and working in Vietnam. In particular, Hanoi is home to a large concentration of foreigners from major countries such as Korea, Japan, China, Singapore, Hong Kong, America …

Therefore, since the opening of the law that has allowed all foreigners with visas to enter Vietnam for three months or more can buy and own houses in Vietnam, which has helped many foreigners get chance to own house for “living and working in peace and contentment”. Along with that, the more convenience in buying houses in Vietnam also contributes to increasing the attractiveness of rental properties for foreign investors. According to the “skilled” real estate investors, the West and North of the Capital are appreciated as high attraction to foreign investors by investors. Notably, the Western region is a hot spot to attract foreign customers from Korea, Japan, Malaysia, Singapore … buy and rent high-end apartments. Moreover, the transport infrastructure in this area is quite modern, stable and convenient for moving to the inner city areas as well as the main transport routes to other provinces and cities. 

From such advantages, experts say that the Western area in general and My Dinh in particular in the coming time will continue to be the favorite destination of foreign customers.

More importantly, this group of customers will have high demands on all aspects of the product, especially utilities. Therefore, this will be an opportunity for big and reputable investors and truly high-end projects.

Meanwhile, the Northern region has a particular attraction for foreign investors, especially for the high-end segment. Ms. Nguyen Bich Trang, Director of CBRE Hanoi Branch said, the company has studied a lot about Hanoi’s development planning. Accordingly, the Northern area and beyond, the other side of Nhat Tan Bridge are currently on a strong development momentum.

In the next 5 – 7 years, this area will form new urban areas that completely change the Hanoi real estate market in all segments. In particular, the main segments are middle and high-end real estate products, especially suburban resort products. 

Attraction of real estate in the area near West Lake

The group of foreign high-class workers always have stricter requirements about living space so the areas benefiting from the living environment, beautiful landscapes and good utilities and infrastructure such as areas near West Lake are always attractive despite the high rent/purchase price in the market. Therefore, the demand for owning real estate as well as for renting in this area is always high, especially high-end apartments.

Most foreign investors participate in Vietnamese real estate markets for the purpose of investing in rental apartments.

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