Scarcity of new goods is the current situation of Hanoi apartment market from the beginning of the year to the present. Buyers have real demand and investors do not have many options in this segment. A few newly launched apartment projects are concentrated in the West and East of Hanoi.
The West is one of the hot spots of Hanoi real estate market. This area has strongly attracted cash flows of investment and real purchases for decades. According to the master plan to 2030, vision to 2050, the West will be the new economic - administrative center of the Capital. Arterial traffic routes such as BRT Yen Nghia - Kim Ma fast bus, Cat Linh - Ha Dong elevated railway, Le Van Luong extended - To Huu, Le Trong Tan (Ha Dong), Trung Van road connected Me Tri - My Dinh. large commercial projects are concentrated in the West. Agencies, Ministry's headquarters, companies, corporations have been moving strongly to the West to facilitate the moving and dealing with partners. These changes have created attraction in the region's real estate market.
According to Savills' report, in 2018, among the more than 30,000 apartments launched in Hanoi, the West led the supply and sales. CBRE's research data also clearly shows the leading role of the West's supply in Hanoi market. In 2009, 62% of the Hanoi market was concentrated here. And 10 years later, the West still retains the No. 1 position, despite a slight decrease in market share to 56%.
In fact, the review of the authorities on procedures, legal and land fund has caused the supply and transaction to decline from the beginning of 2019 to the present. But in that scarcity, a few new projects launch the market and new supply from old projects continues to focus in the West.
West Hanoi currently has 2 new projects introduced in the market: The Terra An Hung and BID Residence. The Terra An Hung is located on To Huu street, right at the gateway of An Hung urban area (Ha Dong). The project consists of 3 45-storey apartment buildings with more than 1,000 apartments with areas from 65.11 to 140.8 m2, selling price from VND 22.5 million/m2.
Scarcity of new goods is the current status of the apartment Hanoi market from the beginning of the year to the present time.
Near The Terra An Hung is a new supply from BID Residence. This is a project of BID Group with 2 35-storey and 50-storey buildings, providing 804 apartments with an area of 62 to 90m2 with a total investment of VND 1,020 billion. The selling price of the project is from VND 21.5 million/m2.
In addition to the new project, the West of Hanoi continues to receive new supply from a number of projects launched last year such as Vinhomes Smart City, HPC Landmark 105, Roman Plaza.
Besides the West area, the East area of Hanoi including Long Bien and Gia Lam also have a number of new projects. About 3 recent years, after the West, the East is a new bright spot of the real estate market in Hanoi. The distance between the East and the city center has been significantly shortened with the presence of important bridges and roads such as Dong Tru Bridge, Vinh Tuy Bridge, Ngo Gia Tu Street, and extended National Highway 5. the road from the dyke of Red river to the bridge road of Thanh Tri, the bridge of Cau Bay - Thach Ban...
In particular, the big super projects such as Aeon Mall, Savico Mall, Vinhomes Riverside ecological urban area... have created a great resonance in terms of commerce and society, boosting the regional real estate market to grow strongly. Over the past year, if Gia Lam has been active with the sale of Vinhomes Ocean Park, from the beginning of the year to the present, Long Bien will welcome 2 new projects, namely TSG Lotus Sai Dong and Le Grand Jardin.
TSG Lotus Sai Dong Located at the junction of Sai Dong street and intersecting Tran Danh Tuyen street (Viet Hung ward, Long Bien). The high-rise area of the project is a 25-storey building, built on an area of 2,021m2, providing 328 markets with flexible areas from 70m2 to 115m2 and arranged with 2-3 bedrooms, selling price from 25 million dong/m2.
A new project introduced in the East of Hanoi is Le Grand Jardin of Hanoi Construction Joint Stock Company No. 3. Le Grand Jardin was built on the boundary of 3 wards in Long Bien district: Viet Hung, Phuc Loi and Giang Bien. The project has a scale of 9 buildings, providing more than 1,000 apartments with an area of 55 m2 - 106 m2.
Before these developments, Mr. Nguyen Van Dinh - General Secretary of Vietnam Real Estate Brokers Association said that in the last months of 2019, the real estate market will be more exciting. Buyers wishing to live there will have many options. These are considered positive signals of the market.
According to Bach Cuc