New gem of downtown Hanoi investment wave: 5 Seasons condotel
New gem of downtown Hanoi investment wave: 5 Seasons condotel
Experts claim condotel projects in downtown Hanoi offer outstanding economic advantages. To avail themselves of these opportunities, all they need is a little sensitivity and a moderate amount of capital.
Attractive profit
When the State Bank of Vietnam cut rates for USD deposits to zero per cent, Nghiem Quan of Hanoi had to find a new investment direction.
Real estate was a channel that Quan had spent quite a lot of time studying. Finally, he found that rental apartments were a frequent choice for investors to preserve capital and earn a steady, regular cash flow.
According to his calculations, when leasing normal apartments, investors have to spend a lot of time to find tenants, and then need to handle several unexpected situations arising during leasing and asset management. The profit generated by apartment leasing in Hanoi fluctuates around only 4-5 per cent per annum, after depreciation and brokerage fees.
“Fortunately, a friend told me about investment opportunities in high-end condotels for rent in the centre of Thanh Xuan district, with synchronous facilities and convenient services. Instead of depositing my USD holdings for zero per cent interest, I found a far more effective investment channel,” Quan said.
In recent years, the development and expansion of foreign businesses in Hanoi, as well as in neighbouring provinces, has led to a growing number of high-level foreign workers. According to a recent survey, this group spends $2,000-7,000 per month renting apartments, with over 80 per cent occupancy rates at 4- and 5-star hotels in Hanoi.
Real estate experts said that investing in condotels for rent has been gaining traction over the years.
Another advantage of investing in high-end condotels for rent is their ability to keep prices stable, as opposed to other property types, such as detached houses, terraced houses or villas. Besides, the profit generated by the rental of high-end condotels is stable at 10-15 per cent per annum, and when the market develops, this rate may increase higher.
Low investment capital
Nguyen Tri Hieu, a financial, banking, and investment expert, said that Thanh Xuan district was the most profitable segment for condotel rental, noting that their synchronous infrastructure and utilities, as well as convenient location, attracted buyers by the droves.
Condotel projects in this area include the high-end 5 Seasons, which has been newly introduced by TNR GoldSeason with modern design by reputable contractors.
The project is located at 47 Nguyen Tuan Street, near several main arterial roads, such as Nguyen Trai and Le Van Luong streets, and Ring Road 3-Khuat Duy Tien–Noi Bai, Cat Linh–Hadong Highway. The location is a short leisurely drive from the city centre and surrounding areas.
In addition to its prime location, 5 Seasons offers a wide range of advantages for tenants, such as the high-end integrated facilities. The project reserves more than 70 per cent of the area for utility, landscape, outdoor amusement and sports space, outdoor cafés, parks, a four seasons swimming pool, a clinic, and a trade centre.
5 Seasons focuses on providing 5-star quality services. In addition, it offers tenants a wide range of exclusive amenities that are free for a life-time, such as a tropical swimming pool, gym, yoga, sauna, jacuzzi, community recreation room with billiard table, table tennis, and a conference room.
To provide financial support to customers, the investors are offering buyers preferential payment policies. Clients are only required to pay 20 per cent of the apartment’s value initially, equivalent to VND320 million ($14,000), to sign a sales contract and officially become the owner of the apartment.
