Leverage to increase prices from billion-dollar infrastructure
A recent market report by the Vietnam Real Estate Brokers Association shows that real estate investors, including individual and institutional investors, are accelerating their shift to new central areas following the multi-center development model.
In Hanoi, the western gateway is one of the new growth poles in the multi-center planning that the capital is aiming for. This is the most potential area thanks to a series of billion-dollar infrastructure projects that have been and are being implemented. Notably, the Tay Thang Long Avenue axis is 33km long, more than 60m wide and has 10 lanes.
The Northwest gateway also benefits from a series of other key projects such as Ring Road 3.5, Ring Road 4, Thuong Cat Bridge, Hong Ha Bridge, Metro Line 4 ... Along with the motivations to promote the roadmap to Dan Phuong district, this area is entering a decade of rapid infrastructure upgrading and socio-economic development.
For the real estate market, the momentum from planning and infrastructure has boosted selling prices in both the primary and secondary markets, especially projects under reputable investors.
In reality, at the starting point of the Tay Thang Long axis, Tay Ho district, the selling price of low-rise products is fluctuating from 400 - 700 million VND/m2. However, most existing projects still lack green space and utilities, or projects have planning but implementation is delayed.
Meanwhile, in the Western region, the synchronous combination of infrastructure and utilities in Vinhomes' projects has caused prices to increase sharply in recent years. For example, Vinhomes Green Bay currently has a selling price of 450 million - 1 billion/m2, Vinhomes Gardenia from 300 - 430 million/m2, Vinhomes Thang Long from 200 - 300 million/m2 and Vinhomes Smart City from 200 - 250 million/m2. However, in reality, the secondary supply in these projects is almost gone.
Heavy demand, but in reality, the market is seriously lacking projects that meet infrastructure, utilities, legal requirements and progress. Therefore, all eyes are on Vinhomes Wonder City, which has just been launched, said Mr. Thanh Trung, a long-time investor.
Wave of money to hold the most potential product
Officially opened for sale since March 10, Vinhomes Wonder City is not only the largest project but also the most anticipated project in the Western region for nearly a decade.
Vinhomes Wonder City has strong appeal when appearing at an important time in the market, especially in the Dan Phuong area, where there is a shortage of high-class low-rise products - Mr. Nguyen Van Nam - Business Director at a real estate exchange in Hanoi - shared about the heat of the project.
According to Mr. Nam, right after "going to the market" on March 10, the project attracted a strong wave of money. Not only investors are taking the lead in infrastructure, many real buyers are also interested thanks to their large scale, synchronous and classy utilities.
With Vinhomes Wonder City - The City of trendy experiences, Vietnam's leading real estate developer reshapes the quality of life for the Northwest gateway area through an all-in-one ecosystem with 99 diverse and classy utilities.
The wave of Vinhomes Wonder City's down payment comes from unique product planning, including 3 types to meet the needs of living, business, and investment. The low-rise apartment fund has only more than 2,000 units, and is expected to "sell out" soon after 10 years of no major projects in the area for sale. Nearly 100% of products have an 8m frontage, promising to promote vibrant transactions.
"A series of infrastructure milestones in 2025 and the next 2-3 years are the milestones of increasing real estate prices, so paying as soon as the project opens for sale is the smartest decision to maximize profits" - Mr. Thanh Trung said.
