Domino effect in condotel investment in Hà Nội
Experts have warned that if there is no breakthrough in the development direction, the real estate market will be saturated in the luxury apartments segment.
Bottleneck in high-end investment
After a long time "big" real estate firms have poured capital into the high-end apartment line to exploit the huge potential from the demand for rent; so far, this trend is showing signs of slowing down. According to Savills statistics, the property market in Hà Nội will receive about 23,500 apartments in the second half of 2017, and nearly 64,000 apartments from 2018 onwards; however, high-end apartments account for only 30 per cent of these apartments, decreasing significantly compared with the same period last year.
Meanwhile, the report of Hong Kong and Shanghai Banking Corporation (HSBC) showed that Việt Nam ranked second in Southeast Asia in terms of the best working environment for foreign experts. Currently, there are more than 80,000 experts, doctoral students and foreigners coming to Hà Nội annually for three to five years, earning over VNĐ2 billion (US$88,000) per year. The demand from this customers group is not small, but their requirements for rented apartments are fastidious. Therefore, although the potential development of apartments for rent is large, Hà Nội’s market in particular has not met these difficult guests yet.
Hà Nội has shortage of high-quality projects
According to experts, the root of these problems is that the supply does not meet the right requirements of the market, resulting in delays in liquidity, and investors are not interested in these types of project.
A survey of the market for high-class apartment for rent in some districts, such as Đống Đa, Cầu Giấy, Thanh Xuân, has shown that each fully furnished apartment with two bedrooms or more has selling prices ranging between VNĐ45 million and VNĐ55 million per sq.m and renting rates from $1,300 to $3,000. However, projects that meet all the requirements are now scarce. Meanwhile, although many new projects have sprung up, they are still unable to satisfy the market demand.
Five Seasons — the starting point of Domino effect
In the context that the market for luxury apartment segment remains stable, from the third quarter of 2017, it showed good signs with the launch of the five-star apartment project. Five Seasons condotel has been built for investment purposes.
Five Seasons is expected to be the starting point of the Domino effect, promising to create a new attraction for the high-end apartment market in Hà Nội.
Five Seasons creates the values to meet the demand for high quality of life.
Catching up with the new standards of living, Five Seasons has been developed in the direction of luxury hotel standard to meet the needs of "home-stay relaxation" for fastidious customers, especially the rich, businessmen and a number of foreigners in Việt Nam who do not have much time to look after themselves and their families.
Not many projects in Hà Nội are devoting nearly 70 per cent of the area for trees. The 1,600sq.m Manhattan Park and the nearly 100 synchronous, modern and friendly environment utilities will ensure a space for rest and a healthy life.
Although being a high-end project, the selling price of Five Seasons currently ranges from VNĐ1.6 billion, with a discount of up to 6.6 per cent and big incentives from the Maritime Bank. This is the most attractive time for investors to own a luxury apartment in the heart of Hà Nội.
A project that satisfies all the customer needs forms the basis for the investor to "spend the money." The successful transactions of Five Seasons recently have proved this.
The sale event of Five Star Condotel - Five Seasons will take place at 2.30pm on November 4, 2017, at 24th Floor TNR Tower Building – No. 54A Nguyễn Chí Thanh, Hà Nội.
For more information, please contact:
Project distributor - Phú Quý Land: 0971 80 7979 - 0902 211 893