Hanoi high-end apartment market: What scenario for the last 6 months of 2019?

Source: Internet

The increase in the rich and super-rich class has led to an increasing demand for good quality accommodation, but the supply of high-class apartments is limited. So, which scenario will take place in the last 6 months of 2019?


According to a Hanoi real estate market survey report for the second quarter of 2019 published by CBRE on July 9, the number of launches in 2019 reached over 33,000 apartments. This is equivalent to the period 2016-2018. But the concern is that among the projects launched in the second quarter, 98% of products were in the mid-end and affordable apartment segment. This means that the Hanoi apartment market is in danger of facing the shortage of high-class and luxury apartments.


The sharp decrease in the number of newly launched units is attributed to the shortage of new projects entering the market. Currently, Hanoi's review of the land fund and tightening the licensing of new projects have strongly affected the release of real estate businesses.


Regarding housing demand, experts said that the process of urbanization is extremely strong, promoting the expansion of the housing market with a radius of about 10km on both sides of Hanoi. In particular, the West is the most powerful development because this is the new development center of Hanoi, so the infrastructure is invested synchronously and continuously. The supply of high-end apartments in the western market of Hanoi is quite diverse, but customers are attracted by well-planned projects such as Anland Lakeview (Ha Dong, Hanoi). This is a luxury apartment project invested and developed by Nam Cuong Group. Having just started construction of the building in the end of July 2019, Anland Lakeview received a lot of attention from customers because this is a project in Duong Noi urban area of nearly 200 hectares, so it can enjoy diverse and exclusive utilities such as: Astronomy Park 12 hectares wide with the heart of the lake Ho Chi Minh City 6 hectares wide with many other facilities such as international hospitals, international schools, system of global trade centers...


Anland Lakeview high-end apartment project attracts attention thanks to multi-utility format and origin of Duong Noi urban area


Commenting on the high-end apartment market in the last 6 months of 2019, many analysts, the income of people is increasing, the rich and super-rich class increase rapidly, the demand for accommodation quality of accomodation, service and life will be higher and higher. That is the development potential for high-end apartment projects.


Besides, a number of other experts said that it is possible to realize the trend of strong investment in high-end apartments, especially foreign investors through the acquisition or development cooperation with internal investors. As noted by Savills, the demand for real estate investment in Vietnam of foreigners has increased significantly when the Housing Law 2014 took effect on July 1, 2015. In fact, in many projects, the number of foreigners buying houses hit the ceiling of 30% in just a short time to sell. And the fact also shows that apartment prices in Hanoi are generally lower than sou with similar markets in the region such as Kuala Lumpur (Malaysia) and Bangkok (Thailand), although the growth rate is higher when comparable to these markets.


Experts emphasized, luxury apartments would not have difficulty in finding output if it was really a high-end, value product. To reach customers, high-end project investors must create products with high-class utilities. For example, it is necessary to ensure comprehensive provision of health protection, beauty care and positive energy-generating utilities for residents. These utilities can increase the price of apartments, but for high-end customers, money is not a big deal.


According to Anh Duong