Low-rise real estate in the West of Hanoi maintains its position on the racetrack
According to Savills, in the first quarter of 2024, Hanoi recorded 93 new low-rise units, up 7% quarter-on-quarter and 221% year-on-year. Transactions reached 185 units, up 189% quarter-on-quarter and 110% year-on-year, accounting for 52% of total transactions in 2023. Of which, 63% of new supply was absorbed, and 72% of transactions were in the West (Ha Dong). Secondary prices of villas and shophouses increased by 14% year-on-year, townhouses increased by 20%, primary prices of villas reached 164 million VND/m², townhouses 192 million VND/m², shophouses 279 million VND/m².
In the second quarter of 2024, the new supply reached 128 units, up 38% quarter-on-quarter, concentrated in Ha Dong and Hoai Duc. Transactions increased by 5% year-on-year, with primary villa prices reaching VND 178 million/m², townhouses VND 188 million/m², and shophouses VND 288 million/m².
Three major advantages of the West of Hanoi have a strong impact on low-rise real estate
The first is the development of infrastructure.
In real estate investment, infrastructure is considered the “lever” of real estate value. In recent years, the West of Hanoi has been given priority for strong investment with a flexible and synchronous infrastructure system.
Major traffic routes such as Thang Long Avenue, Road 32, Cat Linh - Ha Dong railway, and To Huu - Le Van Luong axis connect this area with the city center. Le Quang Dao route is expected to be put into operation in October 2024, along with the Ring Road 3.5 project and Thang Long Avenue under construction. Ring Road 4 is expected to be completed in 2027, contributing to changing the face of the West, increasing the ability to connect trade. Modern service systems and utilities such as schools, hospitals, and parks are also developing, meeting the high-class living needs of residents.
Second, the West of Hanoi becomes a new administrative - economic center.
Under the pressure of population growth, Hanoi expanded its boundaries and moved many agencies to the West - an area with large land funds and an important gateway. Thanks to the Government's efforts, the West has become a new administrative - economic center, attracting thousands of large and small businesses. This has also created a wave of settlement for civil servants, foreign experts and high-quality workers.
Large land fund, full amenities, green living environment and convenient connections make the Western area an attractive choice for the upper class and the real estate market.
Third, the appearance of many "real estate giants" in this area.
The breakthrough development in planning and infrastructure has attracted many large investors to the West of Hanoi, turning this place into a destination for large-scale real estate projects, attracting the elite. Many low-rise projects here are designed with green and airy spaces, creating an ideal living environment and attracting customers.
Prominent among them is Hinode Royal Park - a project with outstanding location, landscape and amenities, attracting a large community of residents. Hinode Royal Park is located at the intersection of National Highway 32 and Ring Road 3.5, the gateway area of Hanoi center, helping residents easily connect to My Dinh, Cau Giay via major routes.
The project has a scale of 146.8 hectares, of which 16.7 hectares are green trees and 1.95 hectares of water surface, creating a fresh "green lung". Hinode Royal Park is planned according to the "all-in-one" criteria, including commercial townhouses, single and double villas, and a system of high-class utilities such as parks, sports areas, spas, Onsen, shopping centers, medical centers, inter-level schools, and outdoor parking lots.
With outstanding advantages and diverse utilities, Hinode Royal Park will attract residents, increasing value not only for the project but also spreading benefits to surrounding areas.
