Hanoi townhouse prices increase sharply while supply remains scarce
According to a report by Cushman & Wakefield, in the first half of 2024, the supply of townhouses in Hanoi increased by 133% over the same period, but remained scarce. In particular, townhouse prices increased sharply in the second quarter of 2024, reaching 10,120 USD/m2, equivalent to 253 million VND/m2, up 42% over the previous quarter and 132% over the same period last year. These figures show the recovery of the "million-dollar real estate segment".
Hanoi townhouse prices have increased sharply as supply remains scarce, according to Cushman & Wakefield.
Analyzing from the buyer's perspective, Ms. Do Thu Hang, Senior Director, Research and Consulting Department, Savills Hanoi, said that the market context lacking investment products and interest rates maintained at low levels for a long time has encouraged many people to seek opportunities in the townhouse segment, including villas, townhouses, and shophouses.
Townhouses in projects of large enterprises are favored by many investors.
According to Ms. Do Thu Hang, high demand and low supply are the main reasons why the selling price of townhouses is always high and increasing continuously. In the past 10 years, villas and townhouses are the segment with the best growth rate, fluctuating from 15 - 30%/year. Not to mention, the cash flow from rental activities can also reach 12%/year, creating attractive compound profits.
The price of townhouses is expected to increase sharply in the coming time when the Law on Real Estate Business 2023 officially took effect from August 1. Accordingly, the form of dividing land into plots for sale for individuals to build their own houses on land with technical infrastructure in real estate projects can only be implemented when meeting all strict conditions. At the same time, the Law also provides a list of 150 localities that are not allowed to implement this form.
According to Prof. Dang Hung Vo, former Deputy Minister of Natural Resources and Environment, with the new policies, the supply of low-rise segment will decrease in the near future. In particular, the prices of already formed products will increase, especially in urban areas developed by reputable investors, with complete legal documents, guaranteed handover progress and superior construction quality and living facilities.
This explains the recent wave of investors looking for townhouses. Dong Anh is currently the center of attention in the capital with Vinhomes Global Gate - a super project about to launch.
The attraction of the super project about to launch
Vinhomes Global Gate is located in the sacred land of Co Loa - which was twice chosen as the capital of ancient Vietnam. Along with that are 4 large rivers surrounding the metropolis, including the Red River, Duong River, Ngu Huyen Khe River and Hoang Giang River.
Vinhomes Global Gate also has a super-connected location because it is located in the "heart" of Dong Anh - a locality striving to become a district by the end of this year. In the future, this northeastern gateway area of the capital will converge a series of key economic sectors, such as high-tech industry, finance, trade and international transactions.
It only takes 5 minutes to travel from Vinhomes Global Gate to the center of Hanoi via Tu Lien bridge.
At this time, investors are looking to Vinhomes Global Gate to catch the infrastructure wave, especially in the context of Hanoi accelerating public investment disbursement. Accordingly, the metropolis has the ability to connect directly to Tu Lien Bridge - a key traffic project with an investment capital of nearly 20,000 billion VND, expected to start construction at the end of 2024. When the project is completed, the travel time from Vinhomes Global Gate to the center of Hanoi will be shortened to 5 minutes.
Transportation options will be even more diverse with Ring Road 3.5, Ring Road 4 and Metro Line 4. Modern transport infrastructure will be a lever to promote rapid increase in real estate prices in the area. For example, after the operation of Metro Line 2A, the primary price of villas in Ha Dong district increased by 37%, and townhouses increased by 26% in a short time.
The Grand Expo complex, a top 10 world-class complex in Dong Anh, promises to awaken Vietnam's "Expo economy".
Vinhomes Global Gate is also the gateway for investors to enter the global playground, seeking trade and cooperation opportunities with foreign partners. One of the highlights of this metropolis is the National Exhibition and Fair Center, which has just started construction on a scale of 90 hectares, ranked in the top 10 in the world, along with a complex of 5-star international hotels - expected to be managed by Marriott and a class A office complex. In the future, thousands of entrepreneurs and businesses from around the world will gather here, opening up golden opportunities for investors to "reap the fruits" of the billion-dollar Expo economy.
The 32ha central lake and the Wonderland park are the international standard amenities of Vinhomes Global Gate.
The attraction of Vinhomes Global Gate increases when the first amenities are revealed. In particular, the central lake of up to 32 hectares, the largest scale in the capital and the Wonderland park, the largest theme park for children in Hanoi, are considered the pair of levers to help increase the value of real estate at Vinhomes Global Gate.
Pioneering in bringing international 5-star facilities and services, and possessing unique and outstanding values, Vinhomes Global Gate promises to be the focus of the real estate market in the last months of 2024, contributing to bringing the real estate market into a new cycle.
Source: https://dantri.com.vn/bat-dong-san/bat-dong-san-dan-phuc-hoi-cac-du-an-nha-lien-tho-duoc-huong-loi-20240916152005178.htm
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