VietNamNet Bridge - Ha Dong district and the western part of Hanoi have become hot areas for real estate developers because of big advantages in infrastructure and other facilities.

Some years ago, Ha Dong was not an attractive locality for real estate investors because it is far from the center of the city, while infrastructure conditions were very poor.

But things are quite different now. More and more new roads have been built, and existing roads have been expanded, making the traffic smooth in the ‘triangle’ area of Ha Dong – Nam Tu Liem – Cau Giay districts.

“In the past, it took more than half an hour to travel from Duong Noi to the central area of Ha Dong district. But it now takes less than 10 minutes to travel to many different locations in Ha Dong district thanks to newly opened roads,” said Le Van Duc, director of the Hanoi Construction Department. 

Ha Dong district and the western part of Hanoi have become hot areas for real estate developers because of big advantages in infrastructure and other facilities.

Shopping malls, supermarkets and international schools have also been rising in the area, making Ha Dong more attractive for people who need accommodations. Many Hanoians want to leave the central area for the suburbs because of the overloaded and degraded infrastructure.  

Vingroup, FLC and Bitexco, the biggest real estate firms in Vietnam, have announced  investment in a series of big projects in Ha Dong district in the western part of the city, including Vinhomes Gardenia, Hanoi Landmark 51 and FLC Star.

The latest survey by CBRE showed that Ha Dong is now the focus of the market with an overwhelming number of projects in the area compared with other areas. 

In the next quarter of 2016, the west and southwest of the city will be the biggest supply sources, expected to make up 75 percent of total supply.

Ha Dong district, thanks to the strong development of infrastructure, has seen the real estate price increase by 5.5 percent compared with the quarter before and 15 percent compared with the same period last year. 

Meanwhile, Cau Giay and Hoai Duc districts, the other two localities of the western part, also saw the price increasing by nearly 5 percent.

CBRE’s CEO Marc Townsend thinks that the real estate price in Ha Dong district may increase by another 5-10 percent in the time to come, once the Cat Linh-Ha Dong elevated railway is put into operation.

Pham Duc Toan, director of EZ Land Real Estate Trading Floor, noted that the western part i a ‘hot spot’ of the city because there are many agencies and schools in the area.


TBKTVN