“Embracing the Wave” of the New City in Western Hanoi: What are Investors Considering?

The real estate market in Hanoi has seen a resurgence in activity in the final quarter of 2024. Investors are gearing up for a new investment cycle, searching for information and filtering opportunities to make their move.

Tạy Hà Nội, the western region of Hanoi, is increasingly becoming the focus of attention as major transportation infrastructure projects have been and are being implemented. Additionally, the news of Hanoi establishing a new city in the west with Hòa Lạc as its center is making this area more attractive to investors.

Upon examining the market, areas such as Nam An Khánh, Bắc An Khánh, Vân Canh in Hoài Đức, Dương Nội in Hà Đông, and Tây Mỗ in Nam Từ Liêm have emerged as hotspots in the condominium, villa, and townhouse segments due to a significant increase in investor interest in recent months.

Mr. Dương Tiến, Director of Hải Tiến Trading Floor, revealed that low deposit interest rates combined with the market’s upturn have drawn investors strongly to the western region of Hanoi. Recently, even the apartment prices have seen a significant surge, especially for new projects with prices ranging from 60-70 million đồng/m2, which have pushed up the prices of used apartments in the area.

According to Ms. Nguyễn Hương, an experienced investor, the western region of Hanoi holds many advantages in terms of transportation infrastructure, with the Láng Hòa Lạc expressway connecting to Hòa Bình – Mộc Châu. In addition, the cross-cutting beltways of beltway 3.5, beltway 4 under construction, and the planned beltway 5 are further enhancing the area’s appeal.

“Especially, Hòa Lạc will become the center of the new city in the west, focusing on the development of high-tech zones, AI research centers, and large-scale industrial zones. Once the new city is established, it will create a breakthrough for the real estate market in this area,” Ms. Hương commented.

Giving investment advice, Ms. Hương stated that the residential areas of Nam An Khánh, Geleximco, Vinhomes Smart City, Splendora Bắc An Khánh, and Hà Đô Charm Villa have seen continuous price increases over the past four years. Although the price growth slowed in 2023, it started to rise again towards the end of the year. The opportunity lies for investors with a forward-thinking vision in areas such as Hòa Bình, Xuân Mai, Ba Vì, where prices are still relatively low.

Mr. Vũ Cương Quyết, Director of Đất Xanh Miền Bắc Trading Floor, also noted that the western region of Hanoi is currently the focal point of the market. High prices, coupled with infrastructure developments, have prompted investors to venture further towards Hòa Bình in search of good deals, particularly in the low-rise segment.

“We have seen that around 6-7 years ago, Nam An Khánh was considered quite remote, with a 400m2 villa priced at just over 10 billion đồng. Currently, the lowest price for a 400m2 villa is around 40 billion đồng, a four-fold increase. I believe that Hòa Bình, located near Hòa Lạc, is likely to follow a similar trajectory as Nam An Khánh and Bắc An Khánh,” Mr. Quyết remarked.

Backing up his statement, Mr. Quyết cited the recent attention Casa Del Rio project has garnered from wealthy individuals and investors in Hanoi. Located on QL6 highway, connecting the Hòa Lạc – Hòa Bình expressway, opposite Hilltop Valley Golf Course, and at the crossroads of Kỳ Sơn, this rare project in Hòa Bình has attracted a significant number of interested customers. With prices only a third to a quarter of those in Nam An Khánh, Casa Del Rio is enticing investors.

Many experts share the same view as Mr. Quyết, stating that the suburban villa segment not only fulfills the need for vacation homes but also proves to be a valuable asset with four accompanying values: investment, accumulation, residence, and demonstrating social status. Furthermore, as central Hanoi’s land reserves are increasingly scarce, the trend of investing in suburban urban areas with good transportation connectivity is becoming the focus for the future.

Observing the reality, Hoà Bình possesses a strategic position at the western gateway of Hanoi. This is an especially important position, serving as a commercial hub between Hanoi and the Northwestern provinces. With this favorable location, Hoà Bình has become a key transportation junction for goods circulation between neighboring provinces. Its proximity to Hanoi is predicted to open up numerous opportunities for strong real estate development in the future.

Photo: Real Estate in Western Hanoi is capturing investor attention.

In conclusion, the western region of Hanoi is experiencing a significant surge in investor interest due to its infrastructure development and the establishment of a new city. Investors are exploring opportunities for various types of properties, from apartments to villas, in areas such as Nam An Khánh, Bắc An Khánh, Vân Canh, Dương Nội, and Tây Mỗ. With excellent transport connectivity and the potential for future growth, particularly in areas like Hòa Bình, the western region is becoming a preferred investment destination for many forward-thinking individuals.

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