Hanoi’s Real Estate Market Anticipates Major Project in the Northeast
Immediately after the National Day holiday, the real estate market heated up significantly with news of the upcoming launch of Vinhomes Global Gate. On various forums, leaked images revealed that the project’s debut event will be held on September 6th at VinUni University.
Mr. Bui Thanh Liem, a Hanoi-based real estate consultant, shared that this is the most anticipated project of 2024, not just for the capital but for the entire market. Thus, it’s no surprise that as the “hour approaches,” the atmosphere becomes more fervent.
“For several months now, we have been receiving numerous calls from customers and investors interested in the project,” said Mr. Liem. “The level of interest surged after Vingroup commenced construction of the National Exhibition and Fair Center on August 30th. Many investors have prepared their funds in advance, ready to pounce on this opportunity. Our company has also recruited over 20 additional staff to prepare for one of the biggest campaigns in recent years.”
The commencement of the National Exhibition and Fair Center in Dong Anh on August 30th further heated up Hanoi’s real estate market.
The launch of Vinhomes Global Gate coincides with the busiest time of the year for the real estate market. According to Batdongsan.com.vn data, for the first seven months of 2024, the level of interest in real estate and the number of listings increased by 26% and 6%, respectively, compared to the same period in 2023.
Based on the strong recovery in demand, the Vietnam Real Estate Brokers Association forecasts a 20% increase in transactions in the last months of the year. The success rate will be driven by both homebuyers seeking upscale accommodations and investors with ready capital looking for profitable ventures. Both groups are focusing on large-scale projects from reputable developers, offering a diverse range of options with exceptional profit potential.
“In the second quarter, villa prices in Hanoi increased by 9%, and shophouse prices rose by 3%,” analyzed Mr. Hoang Van Phat, a long-time investor. “The momentum from now until the end of the year is expected to be even stronger, especially with the highly anticipated launch of Vinhomes Global Gate.”
Investors are focusing on large-scale projects from reputable developers.
Unraveling the Appeal of Vinhomes Global Gate
Vinhomes Global Gate possesses a rare combination of favorable factors: timing, location, and human harmony, making it a market-moving force in Hanoi and the entire North.
Experts analyze that the timing factor is crucial, as the project launches at a golden moment that occurs once in many years. Firstly, there’s the trio of new policies: the Land Law, the Real Estate Business Law, and the Housing Law, which are beginning to take effect in practice, guiding the market towards a healthy and sustainable development path. Especially with the new regulations, projects with vast land funds and complete legalities are considered rarities.
The ten-thousand-billion-dong Tu Lien Bridge, expected to be constructed in 2024, will connect Dong Anh and Tay Ho, reducing travel time from Vinhomes Global Gate to the city center to just 5 minutes.
The timing is also significant as the launch of Vinhomes Global Gate coincides with the implementation or final stages of several key infrastructure plans. These include the roadmap to upgrade Dong Anh to a district and, eventually, a nucleus of an urban area following the “city within a city” model.
Supporting this transformation is the Tu Lien Bridge, a ten-thousand-billion-dong project expected to break ground in 2024, connecting Dong Anh and Tay Ho to the historic inner city. Once completed, the Tu Lien Bridge will reduce travel time from the project to the city center to just 5 minutes. Additionally, the Ring Road 4 is under construction, and the 14.9 km section of Ring Road 3 passing through Dong Anh will commence construction next year…
Vinhomes Global Gate’s location in the ancient and auspicious land of Co Loa, next to the historic inner city and at the gateway to the world for Hanoi and the North, offers unparalleled connectivity.
In addition to timing, Vinhomes Global Gate captures the attention of investors with its exceptional location. The project is situated in an area with some of the most advanced and modern transportation infrastructure in the capital. This includes bridges spanning the Red River and Duong River, such as Nhat Tan, Thang Long, and Dong Tru, along with a dense network of roads: the Thang Long – Noi Bai Highway (Vo Van Kiet Road), the Nhat Tan – Noi Bai Highway (Vo Nguyen Giap Road), the Hanoi – Thai Nguyen Highway (National Highway 3), the extended National Highway 5 comprising Truong Sa and Hoang Sa Roads, Road 23B, and National Highway 23A…
The project is also adjacent to a future metro line connecting Dong Anh with other parts of the city. Notably, with just a 15-minute drive to the international gateway of Noi Bai Airport, Vinhomes Global Gate offers connectivity to the world, a sustainable boost to real estate prices over the long term.
The National Exhibition and Fair Center attracts investors to Vinhomes Global Gate.
Vinhomes Global Gate is also a “prime location” for investment, attracting businesses looking to expand their operations and commercial activities. Within this large-scale urban area will be the National Exhibition and Fair Center, a recently commenced construction project. This 90-hectare complex, ranking among the top 10 in the world and featuring a 5-star international hotel and office buildings, will host regional and international events, attracting businesses and tourists from around the world. It will lay the foundation for a billion-dollar “EXPO economy” and open up countless opportunities for the development of various key economic sectors.
With its rare and exceptional advantages and its location in the ancient and auspicious land of Co Loa, it’s no wonder that Vinhomes Global Gate has created a stir even before its launch. The favorable factors of timing and location will create human harmony, inspiring investors and customers to seize this golden opportunity as soon as the project is officially introduced.
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