Foreign Businessmen Talk About Moving to Ocean City

A Different Experience in Ocean City

After 17 years of living and working in Vietnam, Travis has traveled to many places in the South and the North. But the quickest decision he made was to buy a low-rise apartment in the San Ho subdivision, Vinhomes Ocean Park 2 in the Ocean City metropolis (East of Hanoi) in early August.

"The new legal regulations have brought opportunities for foreigners in Vietnam and me. Actually, I initially aimed for another project but everything changed when I came to Vinhomes Ocean Park 2," Travis shared.

The opportunity that Mr. Travis sees is the regulation of the Housing Law 2023, effective from August 1, 2024, allowing eligible foreigners to buy houses without any limit on the number; the maximum ownership period is 50 years, renewable once for no more than 50 years. The issuance of pink books to these customers will also be faster and more convenient.

Travis (left) and a friend in front of a low-rise apartment that was just "closed" in the San Ho subdivision.

"Housing is a big asset. Being granted a transparent and open home ownership certificate will help customers with long-term housing needs like us feel more secure and confident, thereby promoting transactions in the real estate market," said Mr. Travis.

With the boost from new mechanisms and policies, in the first half of this year, Hanoi alone recorded more than 1,000 real estate products sold to foreign customers. Of which, Vinhomes Ocean Park 2 and 3 are attractive to customers in the low-rise segment because in addition to legal advantages, the utility system is also rated as not inferior to modern cities in the world.

"In fact, in many projects, people also draw up very good things, but the implementation is often not as committed. But here, everything is complete, moving in is possible to experience the difference immediately. Therefore, from the first steps to Ocean City, I was completely conquered," the Taiwanese guest confided.

Ocean City's high-class utility system has conquered foreign guests like Mr. Travis.

The biggest plus point that Mr. Travis evaluates Ocean City to have is the convenience and fullness of a "living paradise" with "sea wonders" and bustling commercial centers such as: Little Hong Kong, K-Town, The Venice...

It is expected that in December 2024, there will be another "branded paradise" Vincom Mega Mall Ocean City opening here. Along with that, the educational choice for 2 young children is also convenient when the Vinschool inter-level school at Vinhomes Ocean Park 2 will officially open from September this year; Korean International School will enroll students from August 2024...

"Both my mother and two children are extremely excited about moving here. With a multi-generational family, each with their own needs and interests, this is the ideal place to live so that every member can enjoy life the way they want," said Travis.

Fulcrum thanks to dual advantages

According to Mr. Travis, Vinhomes Ocean Park 2 is expensive because the low-rise housing here has a double advantage, being both a place to live and bringing in attractive profits from business, rental and sustainable price increases in the future.

"The demand for rentals here is really high. And if you run your own business, it's not difficult to have a stable cash flow thanks to a series of supports from the investor," Travis shared.

VinWonders Wave Park is one of the "magnets" attracting residents and tourists to Ocean City.

According to Mr. Travis, at Vinhomes Ocean Park 2, all subdivisions have residents living there, and business and trading activities have also been activated. Vinhomes Ocean Park 2 also creates great attraction from "wonders" such as VinWonders Wave Park, VinWonders Water Park... Along with that is the resonance of festivals and international-class art programs that are regularly held.

"The more than 70,000 local residents are also very important because they all have high incomes and always have high-end consumption needs. The growing Taiwanese community here will prioritize finding addresses with familiar flavors like back home," Mr. Travis analyzed.

Vinhomes Ocean Park 2 promises to be a destination for many foreigners.

The familiar flavor that Travis mentioned here is Little Hong Kong, a commercial area that recreates many unique cultural features of Hong Kong. This oriental piece, together with Grand World, has contributed to bringing Ocean City more than 6 million visitors in just the first 6 months of 2024.

Taiwan (China) currently ranks 4th out of 145 countries and territories with the largest investment capital in Vietnam, with about 39.5 billion USD. Along with the investment wave of large corporations such as Foxconn, Wistron, Qisda is the "invasion" of Taiwanese people up to 90,000 people (2023 data). This group is often at the top of the list of foreigners buying houses in Vietnam.

Source: https://dantri.com.vn/bat-dong-san/doanh-nhan-nuoc-ngoai-noi-ve-viec-chuyen-cu-den-ocean-city-20240820133820693.htm