The push to promote the wave of foreigners migrating to the world's best urban area Ocean City

Breakthrough regulations from the Housing Law 2023, officially effective from August 1, 2024, are expected to make the real estate market even more vibrant when conditions for foreign customers and investors to own houses in Vietnam are relaxed.

Real estate market opens doors to welcome more foreign customers

By 2023, the country will have approximately 136,800 workers from over 110 countries and territories. Most of these are high-quality workers, including managers, executives, experts, highly skilled workers, etc. with long-term residence and the desire to settle down.

According to statistics from the Ministry of Construction, since the home ownership policy for foreigners was relaxed in 2015, by the end of the third quarter of 2023, more than 3,000 foreigners had bought houses in Vietnam. However, this number is still very small compared to the demand (accounting for only about 0.53% of the total housing transactions in the country in the period 2018 - 2022). Because according to statistics from this agency, there are about 4 million people who want to buy houses in Vietnam in the future, including foreigners and overseas Vietnamese.

Vinhomes Ocean Park 2, 3 has been licensed to sell to foreigners since June 28.

Experts predict that the wave of foreigners buying houses in Vietnam will become more and more exciting when the Housing Law 2023 and the Land Law 2024 officially take effect from August 1. Accordingly, foreign organizations and individuals who meet the prescribed conditions will be allowed to buy villas and townhouses; and at the same time, they can buy, rent-purchase, receive gifts, receive inheritances and own apartments in apartment buildings. The "door" is said to be much wider than the Housing Law 2014.

“The community of tens of thousands of Koreans working and living in the localities has been waiting for this good news for a long time. For someone who has been attached to Vietnam for decades like me, this is an important legal basis to help improve living conditions, thereby determining a longer-term attachment to the second homeland,” said Mr. Yoon Kyu Hee, Director of a branch of a Korean enterprise in Hanoi.

However, not all projects can meet the needs of this potential customer group, especially those with real housing needs. Because with an income of up to 34,000 USD/month (2022 data, according to Navigos), the place of residence of this customer group will have to meet a series of strict standards on location, environment, landscape, amenities, etc.

The attraction that makes foreigners flock to the East of Hanoi

In the first half of this year, Hanoi alone recorded more than 1,000 apartments sold to foreigners. Of these, a significant portion were Vin real estate properties, especially Ocean City - which is considered the best urban area in the world. This number is expected to increase, as on June 28, two prominent "pieces" that make up this 1,200-hectare metropolis, Vinhomes Ocean Park 2 and Vinhomes Ocean Park 3, were simultaneously licensed to sell to foreign individuals and organizations.

Previously, Ocean City has caught the attention of the international community because it satisfies all the requirements and strict criteria for a classy residence. The first advantage is its prime location as the “destination city” is easily connected to Noi Bai International Airport, Hanoi – Bac Ninh – Bac Giang Expressway, National Highway 5A, Hanoi – Hai Phong Expressway – the main routes of the entire Northern economic region. In the coming time, many other key projects will continue to be built, helping residents easily enter and exit the center of Hanoi and move to neighboring provinces and cities.

Ocean City also conquers global residents thanks to its rare, fresh and open living environment with green trees and water covering everywhere. Among them, the most prominent are the complex of "wonders" VinWonders Wave Park (18 hectares), VinWonders Water Park (over 12 hectares), Crystal Lagoon (6.1 hectares) ... bringing a luxurious beach resort paradise right at your doorstep.

Pioneering in creating a comprehensive green lifestyle, Ocean City also fascinates foreigners with the presence of more than 100 sports fields with a full range of training activities. Notably, in the near future, Vinhomes Ocean Park 2 will have the presence of an international standard tennis court complex and a private golf course with a scale of up to 1.3 hectares, helping successful citizens to access trendy sports and recharge their positive energy every day.

As a truly integrated city, Ocean City will also help people far from home find closeness by creating perfect versions, such as K-Town with a blend of ancient and modern features, considered the new Korean Center in Vietnam; The magnificent, romantic Venice with Italian style; Little Hong Kong vibrant, colorful with Chinese colors... Not only possessing original architectural beauty, these subdivisions are also full of vitality thanks to art performances, cultural exchange festivals between Vietnam and other countries.

The vibrant, culturally diverse lifestyle at Ocean City attracts international residents

Living in a metropolis built according to the “all-in-one” model, all the needs of foreigners will be satisfied after just a few steps. In particular, this group of residents will be given many privileged services, such as Vinmec Korea Medical Center, Korean International School (KGS), Brighton College British International School, etc.

Rarely does a project have such “tailor-made” amenities for the international community as Ocean City. With the “push” in terms of policy, the destination city in the East of Hanoi is expected to quickly form “United Nations residential areas”, worthy of the title of the best urban area in the world.

Source: https://baodautu.vn/batdongsan/cu-hich-thuc-day-lan-song-nguoi-nuoc-ngoai-chuyen-cu-ve-do-thi-o-tot-nhat-the-gioi-ocean-city-d221683.html