A wave of Koreans living in the suburbs


Ecopark urban area recorded a surge of Koreans coming to live


Not only are the CBDs attractive to the Korean and Japanese communities, but also to the small cities on the outskirts of the city are becoming attractive places for foreigners to live.


In 2018, data from real estate market research firm Savills showed that the number of Koreans living and working in Vietnam had increased nearly 50 times in nearly a decade, estimated at about 100,000 people, mostly concentrated in 2 big cities, Hanoi and Ho Chi Minh City.


The neighborhood is full of Koreans in the center of Hanoi


Most of them are senior engineers and experts who come to Vietnam to work in factories and offices related to Korean investment fields. Due to long-term working in Vietnam, many of them bring their whole family to Vietnam to live. Therefore, the demand for high-class housing for Koreans in particular and the Northeast Asian group in general is huge.


The Korean "capital" in Trung Hoa Nhan Chinh


Previously, Japanese or Korean people often lived around the neighborhoods in Kim Ma, Lieu Giai, Giang Vo areas... However, about 10 years ago when Hanoi formed new centers due to the expansion of the capital. Westward markets such as My Dinh, Trung Hoa Nhan Chinh... Korean and Japanese communities began to move to these new centers, even many of them settled here.


Trung Hoa Nhan Chinh area is considered as the "capital" of the Korean community in Hanoi


From along Tran Duy Hung street, turn to Hoang Minh Giam, Hoang Dao Thuy, Nguyen Thi Dinh, Nguyen Thi Thap, Hoang Ngan... are considered "capital" of the Korean community. Many restaurants, shops, supermarkets, etc. also hang Korean signs.


New urban areas such as My Dinh, Pham Hung, Me Tri, Khuat Duy Tien and Xuan Thuy... are also increasingly attracting many residents of Korea and Japan. It is no exaggeration to say that many high-end apartment buildings have a 30-40% percentage of Koreans living, especially when current laws allow foreigners to buy and own up to 30% of the units in apartment buildings.


Coming to the Korean wave in "miniature city" Ecopark


In fact, not only do busy urban centers like My Dinh or Trung Hoa Nhan Chinh have Korean communities, but satellite urban areas along Hanoi capital are also witnessing a wave of epidemics of by foreigners moving here, most of them Korean, like Ecopark.


Nearly 5,000 apartments of phase 2 at Ecopark have sold out in the past few years, the price of townhouses and villas in this urban area has doubled since 2016. Even Korean partners have "bought" many floors of the Aqua Bay towers which have a golf course in order to welcome the Korean flocking here in the coming years.


Mr. Nguyen Dung Minh, Deputy General Director of Ecopark, said that in recent years Ecopark has received a surge of Korean people. According to him, they like to live in Ecopark because the urban area is like a miniature city with full of high-end amenities, while possessing large green spaces, fresh air, convenient transportation and even Golf courses of international standards. This is a great advantage compared to other urban areas because the people of Kim Chi are one of the most passionate golfing communities in the world.


In addition, thanks to its strategic location adjacent to the ring road, Ecopark has become a gateway that many routes from the inner city of Hanoi lead to large industrial parks and the southeastern economic driving force of the Capital such as Samsung Thai Nguyen, Samsung Hung Yen, LG Hai Phong, LG Hai Duong, Bac Ninh etc have to go through. With the travel time from the center of the urban area to the IPs from only 25 to 60 minutes, the community of foreign experts working in the IPs is also moving here to facilitate the work.


Ecopark urban area attracts Korean people thanks to the advantage of having a golf system in the urban area


According to Minh, in 2018, Ecopark signed a distribution contract with a Korean exchange. This partner will introduce and offer Ecopark products in Korea. Ecopark is also cooperating with many major partners from Korea to jointly expand and develop large-scale projects that are invested and built according to Korean and international standards, with many fields from education and tourism, health care, entertainment... to better serve the domestic and foreign markets.


The interest of the foreign community in buying houses in Vietnam is a good sign for the real estate market. With a high standard of living, strict requirements for quality of life, the wave of foreigners settling will lead to the development of social infrastructure, schools, and hospitals, helping projects attract investment and improving service quality. For example, Phu My Hung urban area, currently the number of Koreans living here reached 20,000 people, mostly concentrated in the Sky Garden area.


This place is like a modern and classy "miniature Seoul" with shops, restaurants, hotels, schools for Koreans. In addition, the emergence of foreign factors will also help the market develop more sustainably and transparently, increasing the value of projects thanks to the increase in profitability in both sales and leasing real estate.


According to Binh An