From the suburbs to the bustling new center of Hanoi
Many years ago, in the imagination of real estate investors, the west of Hanoi was Abandoned lands, overgrown grass, poor infrastructure and utilities. Areas such as My Dinh, Ha Dong, Me Tri and further away Hoai Duc, Tay Mo, Dai Mo… are still quite desolate.
After more than 10 years of looking back, the appearance of this area has been changed. spectacular transformation, with a connected infrastructure network, shortening the travel distance into the inner city.
The movement of real estate giants such as VingroupGeleximcoNam CuongVinaconex… has contributed greatly in the process of creating a modern urban chain with amenities such as: Vinhomes Smart City, Vinhomes Green Bay, Duong Noi urban area, Phung Khoang new urban area, Bac An Khanh urban area, etc., bringing the western area of Hanoi into a bustling new center worth living. most in the capital.
Nam Cuong Group’s projects in Duong Noi Urban Area such as Anland ComplexAnland PremiumAn Vuong VillaAn Khang Villa… in 2018 have created attraction for the area’s real estate supply. West. Because in addition to location, this investor’s products also have advantages in synchronous physical and legal infrastructure.
According to the general planning for building Hanoi Capital to 2030 with a vision to 2050, Hanoi will shift from a single-center model to a multi-center (multi-polar) model following the general trend of large cities in the world. In which, the West area is oriented to become a new, modern and integrated administrative and economic center.
With this fulcrum, traffic is prioritized for strong investment, as evidenced by existing routes such as Thang Long Avenue. Long belt road 3 and 3.5 Le Trong Tan road, Nguyen Xien – Xa La road, To Huu – Le Van Luong road axis, Le Quang Dao expanding Trung Van road connecting Me Tri… Especially the Le Van Luong – To Huu underground tunnel project with a total investment of 700 billion has been completed. Open to traffic in early October 2022, significantly reducing the load on neighboring roads.
In addition, the most modern public transportation system includes the Cat Linh – Ha Dong elevated railway and the BRT rapid bus route. Metro route No. 567 has created a continuous traffic chain connecting the entire Western region to other regions.
After the National Convention Center and National Sports Complex came into operation Not long after, the headquarters of ministries and branches also gradually moved in this direction such as the Ministry of Home Affairs, the Ministry of Public Security, the Ministry of Foreign Affairs… leading to the need for a number of State civil servants, foreign experts, and high-quality labor to the West… increasing the demand. housing and real estate in this area.
In terms of social infrastructure, in just a short period of time, nearly 1,000 schools, famous modern hospitals, and hospitals continuously spring up within a 5-7km radius around the National Convention Center. Western area amenities reach a new level.
The focus of Hanoi’s future development
According to the development orientation for the 2021 period -2025More than 332 trillion VND will be poured into 460 traffic projects throughout Hanoi City. Notably, all 7 belt routes surrounding the capital have a component running through the western area.
A representative of Savills Hanoi said that the western area, if counting only the districts of Bac Tu Liem, Nam Tu Liem, Cau Giay, cited market leader in supply market share with about 30% from 2011 to present. This is also the area with the largest office supply in the capital with 50% market share equivalent to 873,700 square meters.
This area will be the focus of Hanoi’s development in the near future, with a focus on Strongly improve the quality of traffic infrastructure and landscape to reduce population pressure and high traffic volume.
Forecast of the Real Estate Association Vietnam Real Estate also said that the value of real estate in the West of the Capital increased by 10-15% this year in the first half of 2024.
A representative of CBRE Hanoi branch assessed over a period of 10 to 15 years. Recently, the Western real estate market has had a strong transformation from a desolate area lacking infrastructure to become a very busy new center with the appearance of a series of projects from real estate investors. reputation. In addition to office buildings and mixed-use apartment buildings, existing low-rise housing areas, the appearance of Western real estate is still continuing to form in the remaining land funds.
With attractiveness In terms of price, with the infrastructure network being increasingly promoted and improved, this is an area with a lot of potential for development and price increase in the next 3-5 years.
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