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A boost for the real estate market in the last period of the year
After the first nine months of stagnation due to COVID-19, Hanoi’s real estate market is expected to swiftly recover in the last quarter of this year. According to Savills Vietnam’s real estate market report (H2/2020), there will be 24,200 apartments available from four on-going projects and 18 future projects introduced to the market in the second half of 2020. 68 per cent of these properties are under construction and 32 per cent are in the preparation stage. In terms of supply, Gia Lam district (eastern Hanoi) ranked second.
According to the report, Gia Lam, Hoai Duc, Dong Anh, and Thanh Tri are the four districts contributing 27 per cent of the supply. These districts contribute 22 per cent of the total property transactions in Hanoi in the first half of 2020. Due to the city’s planning, Hanoi is expanding and more apartment complexes are moving from the central districts toward the suburb areas.
A new concept – “Satellite urban areas” – is now considered a sustainable solution to reduce the burden and shortage of traffic infrastructure. Experts believe the momentum from traffic and social infrastructure planning will bring eastern Hanoi on par with other regions, attracting a large international community for both housing and work. The report shows that Hanoi has carried out 414 projects in the Gia Lam area, with around VND1.7 billion ($73,910) of investment. The substantial investment has created spectacular change for the whole area and attracted many well-known real estate investors.
|Masteri Waterfront, the first project from the reputable real estate developer Masterise Homes in Hanoi|
For the last three months of the year, Hanoi is projected to have more launches from many real estate developers such as Vinhomes and Masterise Homes. This includes Masterise Homes – the reputable real estate developer from the south – with around 4,000 apartments from the Masteri Waterfront project now located in the heart of Vinhomes Ocean Park.
Accelerating the high-end segment
Neil MacGregor, managing director at Savills Vietnam, also believes that the scarcity of supply and the breakthrough of the Vietnamese economy makes real estate a priority for investment.
The introduction of Masteri Waterfront is not only an exciting addition to the real estate market but also drives competition and improves standards in the real estate industry. Investors predict that the project will be a leading player in this industry in the eastern side of Hanoi and also become the main source for high-end apartments in the capital city.
Nguyen Van Dinh, vice president of the Vietnam Association of Realtors, shared: “Recently, a lot of big metropolitan projects are delayed for inspection. Because of that, the growth of many local projects is restricted, which leads to the shortage of supply while the demand is still strong.”
“It is predicted in the next two years, the scarcity of supply will still remain, especially in the high-end segment due to tightened legal policies,” he added. “All housing projects in the high-end segment and above could reach 70-80 per cent of their sales rate.”
|Bedroom with a saltwater lake view at Masteri Waterfront|
With multiple amenities and a customer-centric philosophy, Masteri Waterfront is believed to be a magnet for the housing market. Recognised as an international product, the project was constructed by leading international firms in architectural and landscaping, including Tange Associates, an architectural design firm (Japan); Studio HBA, an interior design firm (US); and Belt Collins, a landscaping design firm (US).
Sharing about these partnerships, Youssef Akila, head of Design at Masterise Homes who holds over 20 years of international experience said: “Our design partners are carefully selected based on a long list of criteria and a stringent internal evaluation process. We are constantly on the lookout for well-versed consultants that can bring in an international design flair while also having a proven track record of delivering world-class projects within the region.”
|Masteri Waterfront was recently honoured at PropertyGuru Vietnam Property Awards 2020 as Hanoi’s Best High-End Condo Development and Best High-End Condo Interior Design|
With its prime position at the heart of Vinhomes Ocean Park, Masteri Waterfront is situated right in front of a saltwater lake with a white sandy beach. The residents of Masteri Waterfront can enjoy an outdoor living space with multiple amenities, including wider amenities from Vinhomes Ocean Park such as underwater pool lounge, roof garden, and indoor swimming pool.
|Vietnamese singer, Ha Anh Tuan, brand ambassador of Masteri Waterfront in Hanoi|
Masteri Waterfront’s brand ambassador, famous singer Ha Anh Tuan shared: “I had the opportunity to meet in person with the development team of Masterise Homes and was impressed with the vision that they wanted to achieve, which is to bring international quality standards to the Vietnamese real estate market. This has inspired me to join hands with Masterise Homes to bring a delightful and valuable experience to the audience.”
The behaviour and needs of today’s homebuyers are constantly changing due to the impact of COVID-19. People are now looking for a living environment that is not only comfortable but also environment-friendly, one that encourages them to stay healthy and active. At Masteri Waterfront, residents can stay at home and enjoy all the amenities offered within a few steps, without having to leave the area. This is also one of the features that helps Masteri Waterfront win the hearts of homebuyers.