Dual key apartments, investment trend with high potential for price increase

Many outstanding advantages for urban residents

In 2009, the first dual-key apartment was introduced, redefining the Singapore real estate market. This type of apartment has 2 keys with separate entrances, each entrance will lead to a room designed like a specialized apartment with a full living room, kitchen, bedroom and bathroom.

Unique design with two separate doors, dual key is a combination of living and rental space, suitable for many subjects, especially multi-generational families and smart investors. It allows independence in living while maintaining connectivity, optimizing rental income without affecting personal space, meeting flexible living and investment needs, bringing diverse options to owners.

With many outstanding advantages for urban residents, dual key is gradually becoming a "pillar" in the real estate market of megacities. Leading real estate developers are racing to put dual key into the list of indispensable products of their projects.

According to Singapore's leading real estate website - latestprojectlaunch.com, among the newly launched real estate projects in Singapore, there are up to 41 projects with dual key apartments. The supply is relatively large, however, this type of product in Singapore is still in a state of being quickly sold out.

Dual key apartment investment trend high potential price increase picture 1 — Dual key - a product type in Singapore that is still selling out quickly

According to experts, this type of apartment is popular in Asian countries because it is suitable for the cultural tradition of many generations living together. Not out of the trend, urban areas in Vietnam are also starting to see more and more customers interested in this type of apartment.

Hanoi and Ho Chi Minh City are the two largest cities in the country with high demand for dual key apartments and great potential for apartment rental. It is noted that currently in Ho Chi Minh City, only a few projects own dual key apartments. With projects that have been handed over, moving in immediately has a huge advantage in liquidity.

Meanwhile, in the Hanoi area, dual key apartments with limited quantity have also "made waves" in the Northern real estate market with very good liquidity because they meet the "taste" of customers with smart design. Although the price is higher than the normal type of apartment, this dual key apartment is extremely popular with multi-generational families.

According to observations, in large urban areas, some families still have the "three generations living together" lifestyle (three generations living in the same house), but with the increasingly narrowing land fund, housing area is gradually limited.

Therefore, dual key is a convenient choice for those who are looking for space for grandparents and parents but still have privacy and separation from their own family.

Dual key apartment investment trend high potential price increase picture 2 — In large urban areas, dual key is a convenient choice for those looking for space for multiple generations but still have privacy and separation.

Although it is a trend, dual key apartments in the Vietnamese market are still limited. While the markets in other countries are bustling, the number of dual key apartments in the domestic market is still small, causing supply to not meet demand, especially when the demand for a private living space with good business opportunities is increasing.

The Wisteria - Promises to solve the Dual key thirst of the Northern market

The Wisteria project in the Hinode Royal Park metropolitan area focuses on developing dual key apartment products, promising to satisfy the thirst of the Northern market, creating many investment opportunities following the trend of Asia and the world. Accordingly, most of the products in The Wisteria project are 02PN - Dual key apartments, with areas from 73m2 to 143m2, including two or more small apartments combined in the same space. With a very limited number of projects with dual key apartments or even no supply, The Wisteria owning a large dual key apartment fund is a point worth considering for investors and real residents.

Dual key apartment investment trend high potential price increase picture 3 — The Wisteria owns a large dual key apartment fund, which is a point worth considering for investors and real residents.

Scarcity will make this type of product popular, especially for large, multi-generational families, while investors are also interested in this type because of its flexibility and higher income than normal apartments. Many people buy dual apartments, living in one and renting out the other, solving quite well the problem of both living and doing business "two in one".

Analyzing the profit margin in Singapore or Hong Kong, dual key apartments are usually 35-40% more expensive than regular apartments. Statistical results show that a dual key apartment for rent will generate higher revenue than a regular apartment for service. (According to Dual key apartments – A new lifestyle in the central coastal city of Nha Trang - The Saigon Times).

Another information from the website Stackedhomes in 2020 shows that the average rental yield for apartments in Singapore ranges from 2% to 3%. However, a dual-key apartment brings in higher revenue than a regular serviced apartment.

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