Queen of West Lake real estate in spotlight
Queen of West Lake real estate in spotlight
Real estate along West Lake are not only the most desirable places to live due to the holiday atmosphere and the classy community, they also have promising potential for sustainable profitability. Projects in this area are always heavily coveted, especially Sun Grand City Thuy Khue Residence developed by Sun Group.
Golden property in Tay Ho district
Regardless of time or season, real estate in the West Lake area is always costly. Even at the low points of the market, prices in the area fluctuate between VND450-500 million ($19,800-$22,000) per square metre for landed property and VND 45-50 million per sq.m for apartments.
Numerous internationally renowned experts consider properties in the West Lake and Old Quarter areas of Hanoi to be on par with famously expensive properties in Tokyo or London.
Despite the sky-high prices, the West Lake area is still considered the most desirable place to live in Hanoi thanks to its refreshing atmosphere, the 500 hectares of natural water, and the lowest levels of air pollution in the city.
Thanks to the city’s plan to conserve the landscape, real estate projects in the area are very strictly regulated, lending rare prestige and long-term value to the few properties passing through the sieve.
Matthew Powell, director at Savills Hanoi, said: “While the real estate market in Hanoi has gone through many changes with many new projects appearing on the skyline, the West Lake area has never lost its attraction thanks to the rare natural beauty and clean atmosphere.”
Leading in rental profitability
According to many experts, the rental income potential of high class apartments in the West Lake area is among the best in Hanoi. Reports by Savills Vietnam unequivocally show that Tay Ho district has always been leading in rental property revenue.
Savills also points out that the rental price in this district is usually 27 per cent higher than the city average, and the rental rate stands at 80 per cent per annum, attracting mostly high-class customers and foreign experts.
For this reason, the trend of investing in high-class properties in Tay Ho district targeting high-income foreign customers has been booming in recent years.
According to a survey by Dragon Capital, the real estate rental market has been booming due to the huge demand for rental accommodation of foreign experts working in Hanoi. The high-end apartment segment is heating up, especially around West Lake and Trung Hoa Nhan Chinh.
Coveted properties at Sun Grand City Thuy Khue Residence
With the limited supply of properties alongside West Lake, Sun Group’s Sun Grand City Thuy Khue Residence at 69B Thuy Khue street is currently highly sought-after thanks to its central location in the heart of the city’s development plan and easy connection to many vital traffic routes.
Having a golden location adjacent to both “green lungs” of Hanoi with 500ha of natural water in West Lake and 10ha of greenery in Bach Thao Park (Hanoi Botanical Garden), Sun Grand City Thuy Khue Residence offers the best living conditions of all apartments. S1 Tower right next to West Lake is particularly praised as the future crowning jewel of the Thuy Khue-Hoang Hoa Tham traffic axis.
According to Hanoi’s development plan, Hoang Hoa Tham road will be 50 metres wide with eight traffic lanes, and Thuy Khue road will be 25.5m wide.
Furthermore, four parking lots are also included in the development plan, with the P3 parking lot having an area of 576sq.m, ensuring the parking demand.
Additionally, Thuy Khue is also a planned stop of Metro Line No. 2. Experts claim that real estate projects near metro stations will have a special advantage in traffic accessibility, which guarantees a price increase with time.
With this advantage, Sun Grand City Thuy Khue Residence promises to become a handsomely profitable investment in the near future.
Guaranteed by the reputation of developer Sun Group as well as strict standards for construction technology and materials, Sun Grand City Thuy Khue Residence is the perfect choice for visionary investors.
