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|5 Seasons—a five-star condotel|
|New condotel project stirs up Hanoi’s property market|
|New gem of downtown Hanoi investment wave: 5 Seasons condotel|
|Condotel project stirs housing market|
|5 Seasons–Investment opportunity in the city centre|
Over the past years, condotel projects have been flourishing in Vietnam due to the great potential of the resort industry.
Nguyen Hoang Vinh of Hanoi, who has invested in a series of condotel projects over the past three years, said: “I have invested in a lot of condotel projects in Danang and Nha Trang cities, and on Phu Quoc Island. I think this type of property has huge potential both in profit earnings and to cashflow generation.”
“The tourism market has been showing signs of saturation. Meanwhile, I have learnt that my condotels can serve not only as resorts for a short period, but also as accommodation for longer durations. Therefore, I have been looking for condotel projects in Hanoi that were developed under the model of "building for living," rather than for just short-term relaxation,” Vinh said.
Vinh is just one of the many trendy investors who have quickly caught on to the trend of the condotel segment gradually moving from tourist hubs to the big cities to welcome customers who want to rent luxury apartments for a long duration.
Following a period of study and careful consideration, Vinh was finally convinced by 5 Seasons’ qualified services in terms of design and utilities, along with sustainable profitability opportunities.
Five-star facilities and services
5 Seasons is located within the TNR GoldSeason luxury apartment complex, managed by TNR Holdings Vietnam. There are 400 condotels at 5 Seasons, built with the purpose of long-term living.
|The official debut of 5 Seasons on October 15|
The project was directly executed by Hoa Binh Construction Group JSC, using modern construction technology. Each apartment is designed after the irrefutably metropolitan style of apartment buildings in Manhattan, New York. Apartment space is expanded thanks to the reasonable room layout and the sizeable glass surfaces which ensure ample natural light and a panoramic view of the city at the same time.
This five-star condotel also provides a great variety of exclusive services. In addition to several local amenities, 5 Seasons offers nine free lifetime utilities that only residents can access.
The project also looks forward to helping residents make the most of their precious free time and enjoy luxurious living at their own homes by offering several home-related services, such as housekeeping, food services, and laundry.
Considered a new move in real estate investment, 5 Seasons fully converts the conditions to ensure profitability for investors.
Firstly, with a price of only VND1.6 billion ($70,300), customers can own a two-bedroom apartment in the centre of Thanh Xuan district with full facilities and imported high-end furniture.
Moreover, profit generated by leasing a condotel can reach 12.7 per cent of the apartment value per year, potentially earning back buyers’ capital within eight years.
With the lease price of VND15-25 million per condotel per month, investors can earn at least VND300 million in profit per year. With this profit, 5 Seasons is considered by many investors as the leading real estate project in Hanoi in terms of profitability.