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Learn more about the Hanoi condo market through trends and average prices.
Hanoi can easily be labeled as one of the fastest growing global cities. The city has gracefully aged architectural buildings that stand next to ultra-modern skyscrapers. As a foreigner, you will never be disappointed with this city. This is a city that welcomes both the tourist with exciting attractions as well as expats that are looking for excellent investment opportunities. Most of the foreigners who move to Vietnam find Hanoi to be a great city as it blends tradition and modernity with great ease.
Hanoi was once a tiny city spread across 152 sq.km in 1954 and is now home to more than 7 million people. The size of Hanoi has expanded to a whopping 3000 sq.km. It offers a fast-paced lifestyle that has all the flavors of Asian cultural traditions. If you are an expat looking to invest in Hanoi, Condos are a great choice as most expats prefer condos for its luxurious lifestyle above all other options such as Houses, apartments, etc.
Hanoi has flexible regulations when it comes to property ownership by foreign nationals. Listed below are some of the more popular options, if you are planning to purchase a condo in Hanoi.
Luxury condominiums – Vietnam, overall, is known to be a good destination for investors looking to buy luxury condos. One of the main reasons is the price and in comparison with most other neighboring cities and other metros in the Asia Pacific region, Hanoi has the most affordable luxury real estate market and condos are the top-selling property type.
The condo hotel or condotel is also a popular concept in Hanoi. This is extremely popular among foreign investors that want to invest in properties that offer stable rental yields.
Apart from investing, many expats love to live in a Condo when they move to Hanoi as they are spacious and offer an excellent lifestyle. They suit every budget as you can find spacious five-bedroom condos right next to two bedroom condos both giving you an opportunity to experience the excellent public infrastructure. If you have a limited budget, you can live in smaller single bedroom condos that measure 50sqm or less.
This is a great dilemma for Expats as many of them will be new to this country, finding the right location to buy a condo that will offer good lifestyle along with great return is always a challenge. A few of the more popular areas are discussed below to help with that challenge.
There has been a surge in the real estate and infrastructure investment in the Western and the Southern parts of Hanoi. You will most likely find a great deal for off-plan condos in these areas and they are well connected to the city by rail and road networks.
If you are looking for low budget investments with a high potential for growth, then Thanh Xuan is an excellent choice. Japanese immigrants prefer living in Tu Liem as it has many schools that teach the Japanese curriculum. In case, you are looking for a well-developed infrastructure and good schools, check out Ha Dong. It was a popular real estate destination, but the prices here have been falling for the past few years. Cau Giay and Tay Ho are the other popular choices to invest in a residential condo in Hanoi.
The political hub of the city, Ba Dinh is a must-visit tourist destination. It is one of the busiest, crowded neighborhoods in the city and the best place to invest in a condotel.
Hanoi is known to be one of the best cities in Vietnam in terms of the quality of education. Many schools offer international standards in the quality of education and are a big draw for many expats that want to move here with their families.
In recent years, there has been a lot of westernization in various parts of the city. Coffee shops to multi-cuisine restaurants and fine dining restaurants, the city has them all. A multitude of open spaces and greenery are still intact despite urbanization and makes Hanoi a great choice for nature lovers. As it is in the Red River Delta region, there are many water activities and adventure sports to try out during you’re the weekends. If you are a young, single or a DINK expat, there are shopping malls, night clubs, and pubs that will make you feel you have not missed out on western lifestyle.
As many immigrants are moving to Hanoi for jobs, the government is investing in improving the quality of healthcare and other essential amenities. Excellent public infrastructure, various property type options for investments and vast rail and road connectivity makes Hanoi the right choice for expats that want to live in this city.