HÀ NỘI – Vingroup’s mega urban area in the west of Hà Nội – VinCity Sportia is creating a wave of excitement among Japanese and Korean investors who want to grab a golden opportunity, as developments in the project can be sold to foreigners.
In recent years, investment in Việt Nam has soared significantly in every sector, from production to trade, services and real estate. The number of foreigners living and working in Việt Nam has exceeded 83,000 and keeps increasing rapidly, and many of them are Japanese and Korean.
The good news is the Law on Housing which took effect from July 1, 2015 allows foreign individual and organisations to own homes in Việt Nam. With more transparent instructions, the law has turned on green light for foreign investors to invest in real estate projects which promise high returns. And VinCity Sportia is arising as a spotlight in the west of Hà Nội.
For highly-demanding customers like Japanese or Koreans, only projects of prestigious developers can meet their tastes and demands for quality.
It is easy to understand why VinCity is one of the top choices for these investors.
Besides being developed by Vingroup, one of the most prestigious developers in Việt Nam, VinCity Sportia also has a prime location in an area where a large number of foreigners prefer to live.
Covering some 280 hectares, the project is being developed into a mega smart urban area which will apply modern technology in operation to bring the most comfortable living conditions for residents. The project’s outstanding point which helps attract foreign buyers in general and Japanese and Korean in particular is its space towards improving living quality and health of residents.
The project has an ideal construction density at just 14.7 per cent. The rest is used for developing public infrastructure, including green spaces, water surface, roads and other facilities. It has a central park with a big lake and eight specialised parks, like Kayak Park, Aerobic Park, Dancing Park and Patin Park and Southest Asia’s largest sports park with more than 1,000 bits of exercise equipment and 200 grounds for exercising.
The western-like living space at VinCity Sportia also has 60 kids playing groups, a park for BBQs, eight swimming pool and all-in-one amenities (school, hospital, shopping centre and supermarket) as well as classy security and operation services – the speciality of Vingroup.
Foreign investors can be confident of the profitability of VinCity Sportia.
Nguyễn Hà, a broker at a Korean real estate company B.P in Hà Nội, said that understanding the living habits of customers from different cultures is of great importance. For example, Japanese like a relaxing bathroom, while Koreans like spacious living rooms with comfortable TV watching space for the whole family.
“Koreans and Japanese attach great importance to their community, trust and prestige. Thus, Korean and Japanese coming to Việt Nam are very interested in apartments offered for lease by their countrymen,” Hà said.
Besides classy living space that VinCity Sportia offers, Japanese and Korean buyers can complete interior decorations for their apartments to meet what their target customers expect, making it easy to find renters or buyers.
With promising high return of VinCity Spotia, many large investment funds in Japan sought long-term investment co-operation in this project after a workshop on investing in real estate in Việt Nam that took place in Tokyo in early March.