Western Hanoi is considered to be the Capital’s new growth pole with metro lines expected to come into operation in April 2021 and the first F1 race held in April 2020. This market will get more active with the emergence of a project considered to be a new architectural symbol in Thanh Xuan District.
Western real estate market “warm up” day by day
According to experts in the real estate investment field, the West is a dynamic area which has high liquidity in Hanoi, which means the competition in this area is extremely harsh. The period from 2018 to 2020 is expected to be the hottest development stage as the infrastructure system of this area has been completed and put into operation.
According to CBRE’s recent report, in the first 9 months of 2019, there were about 26,800 apartments newly launched, up by 37% compared with the same period of 2018. In particular, the number of projects in the Western region accounted for approximately 77% of newly launched supply in the quarter.
Moreover, while the rental prices of non-central areas were only 25 USD/ m2/ month, the average rental prices in the West, the region with the largest market supply, was 31.1 USD/ m2/ month in the third quarter of 2019, equivalent to a yearly increase of 5.6%.
These self-evident figures have partly shown the irresistible attraction of western Hanoi’ real estate.
Remarkably, after the Metro lines are put into operation and the F1 race is officially launched next year will surely be a leverage raising Western real estate’s value. According to real estate investors, there will be two substantial rising waves of Western real estate’s prices: The first one is with projects on Cau Giay street (along Nhon – Hanoi Station Metro line) and Nguyen Trai street (along Cat Linh – Ha Dong route). The second one is in the Southwest area (Thanh Xuan – Ha Dong), which will quickly become the hot spot of the Western real estate market after the first 4-level intersection in Hanoi (Khuat Duy Tien – Nguyen Trai crossroads) is officially launched. Especially, projects located near the Metro stations may have faster growth rates.
“Normally, when looking for an investment opportunity, we always check carefully to see if the infrastructure of the area is synchronized, modern, and especially, near stations or major roads (convenient for transportation) or not because it has been proven that all “downtown” and “freeway” projects are pricy and of rising value over time.”- Ms. Ara Hwang, a Korean investor shared.
Perceiving the potential of western Hanoi real estate, many real estate giants have entered this market, including Sunshine Group – a well-known enterprise for pioneering the use of 4.0 technology in real estate.
What is the most expected project in the Western of Hanoi?
After a series of projects located in prime locations in Hanoi such as Western West Lake, the center of Hoang Mai and Hai Ba Trung districts, Sunshine Group continues to enter the Western Hanoi market with two classy projects.
Just after overwhelming real estate investors as well as many customers by the steady, majestic and powerful beauty of Sunshine Center tower, which is considered to be Trump Tower of Vietnam, Sunshine Group continues to unveil a new iconic architecture called Sunshine Boulevard.
The project is located right on Khuat Duy Tien – Nguyen Trai intersection, and also on the node of underground pedestrian walkway, Thang Long highway and Nhon – Ha Dong elevated railway.
As noted from the market, rarely does any projects possess such a prime location which is convenient for transportation like Sunshine Boulevard. This is considered a huge advantage of Sunshine Boulevard compared with other projects in the same segment as the US President Donald Trump’s said, “Location is the everlasting value of a project” and people are “always ready to pay a high price for a great estate”.
Not only the plus point of the location, this Sunshine Group’s luxurious apartment project also makes a mark on real estate investors when integrating many pricy and luxurious facilities such as the international standard kindergarten following Sunshine Maple Bear Canadian education system, Sunshine Mart supermarket system and a system of S-cafe, 4-season swimming pool, Gym, Spa, Asian-European restaurant, … meeting the residents’ diverse needs.
Exceptionally, in the booming era of 4.0 technology, Sunshine Group’s application of smart technology to real estate projects has given it significant competitive advantages in the market.
“If Paris is proud of the Champs-Élysées Boulevard filled with light, New York is proud of Wall Street, the financial center of the world, Tokyo is famous for the busy Shibuya Intersection, then when building Sunshine Boulevard, we also expect the project to become the fame residence of future owners, a new development symbol of Thanh Xuan district and a pride for any owners of the apartments here ”- The representative of the investor shared.
According to the investor, “At Sunshine Boulevard, we focus on making investments regarding 4.0 technologies in project management and operation, turning this place into a modern hi-tech building with a view to smart city which conveys new thinking, vitality and the spirit of the era ”.
With the serious investment of Sunshine Group, the price of only 34 million VND/ m2 for luxury apartments whose location is in the heart of the West of the Capital, Sunshine Boulevard is promising to become a hot spot for living and investment in the coming time.