(Dan Tri) - Low-rise supply is lacking in the market in the West of Hanoi, many investors are waiting for the moment to activate Vinhomes Wonder City (Dan Phuong) - Vinhomes' last low-rise project in the area.
Western Supply
Recently, a detached villa in the Vinhomes Green Bay project (Nam Tu Liem, Hanoi) was advertised for sale at VND500 billion on the online trading floor Batdongsan.com, equivalent to VND1.01 billion/m2. Compared to the opening price of VND180 million/m2 in 2019, the value of the villa is more than 5 times higher.
Mr. Nguyen Thanh Long, an investor specializing in the low-rise segment in Hanoi, said that a 5-fold price increase after a few years is not uncommon for villas and townhouses, especially products with complete legal documents, infrastructure and utilities from reputable investors.
Mr. Long gave an example, the low-rise product chain Riverside, Green Bay, Gardenia, Thang Long... of investor Vinhomes received attention wherever they were opened for sale.
"The limited supply while the demand is high has pushed up the price of low-rise real estate. In the West of Hanoi, in the past 5-6 years, there have been no more quality low-rise products. Even in 2024, although the supply in the whole city has improved, it is mainly in the East. The West is still lacking quality projects," Mr. Long explained.
Ms. Do Thu Hang, Senior Director of Research and Consulting at Savills Hanoi, added that the important reason for the escalation in the transfer price of villas and townhouses in the West in 2024 is due to the limited new supply - only 600 units were launched in the second quarter of 2024, down 9% quarter-on-quarter and 24% year-on-year. In the context of the increasing demand for a fully-equipped living space, the Western market still lacks projects with full amenities, modernity, and open green space.
The shortage of low-rise supply is going against the demand from the development of infrastructure in the West. Mr. Nguyen Van Dinh, Vice President of the Vietnam Real Estate Association, acknowledged that the West is the leading area in Hanoi in terms of infrastructure and socio-economic development.
This place has all the elements such as: concentration of many ministries and agencies, concentration of a large number of companies, offices, universities, colleges... with great housing demand. Major traffic routes are continuously put into operation, helping to increase the connection of this area with the city center, such as Thang Long Avenue, National Highway 32, Cat Linh - Ha Dong elevated railway, To Huu - Le Van Luong radial axis... making the migration flow to the West even stronger.
"According to the Master Plan to 2030 and vision to 2050, Hanoi will shift from a single-center model to a multi-center model like the general trend of major cities in the world. In particular, the West is planned to be the new administrative and commercial center," said Mr. Dinh.
Countdown to Vinhomes Wonder City activation date
Information about Vinhomes Wonder City (Dan Phuong) - the largest low-rise project in the West of Hanoi with an area of over 133 hectares is about to launch, causing a stir among investors. This is a project that has been of interest for 7-8 years, since Hanoi approved the investment policy (2017), but the investor is only now preparing to launch. Records at the end of February show that the housing areas have been clearly divided, the internal roads are paved with asphalt, and the equipment and workers are bustling.
Vinhomes Wonder City is located at the super-connected center of West Hanoi.
Mr. Le Thanh, a long-time investor and real estate market observer, said that the attraction of Vinhomes Wonder City is partly due to its advanced infrastructure. Specifically, the project owns a prime location on the "trillion-dollar boulevard" Tay Thang Long with a scale of 10 lanes. The last 2km directly connecting to the project will soon be completed and opened to traffic in 2025, helping to open up connections to Tay Ho district and the bustling development area at Vo Chi Cong, Ngoai Giao Doan... in just 15 minutes of travel.
"Key transport infrastructure projects are being implemented and will soon be put into use, such as Ring Road 3.5, Ring Road 4, Thuong Cat Bridge and Hong Ha Bridge, or further away, Metro Line 4, making Vinhomes Wonder City a golden coordinate connecting to key areas of the capital in just a few minutes' drive," said Mr. Thanh.
Vinhomes Wonder City has a scale of more than 133 hectares and is the largest low-rise project in the West of Hanoi.
According to the investor, Vinhomes Wonder City is developed according to the green urban area model. The highlight of the project is the green and water surface area of up to 24.9 hectares, providing a fresh and pleasant living space.
In addition, the high-class ecosystem of the "Vin family" - a guarantee for attracting high-class residents and potential price increase - will also be fully present, including schools, medical facilities, shopping centers, and entertainment and indoor sports areas...
The Vinhomes Wonder City low-rise apartment fund is quite modest. Therefore, with the attention of customers and investors, the project is likely to quickly create attraction right after its launch.
Source: https://dantri.com.vn/bat-dong-san/du-an-vinhomes-wonder-city-chuan-bi-ra-mat-20250301112749683.htm
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