Foreigners in Vietnam face settlement headache
In this article (5)
The foreigner community has high expectations for quality apartments with synchronized amenities and a favorable location, though good housing options remain limited.
According to a survey by InterNations, in 2021, Vietnam ranked among the top 10 countries with a foreigner satisfaction rating of more than 86 percent. It was proved in particular by the fact that 9 percent of expats in Vietnam had an annual income of more than $250,000, compared to only 3 percent globally, giving the domestic real estate market, particularly in the high-end and luxury segments of residential and vacation property, a certain customer base.
To provide foreigners the best living options, Phu Thinh Green Park offers more than 500 smart apartments designed to high-quality standards by Phu Thinh Group. Located in the Ha Dong administrative center with numerous corporate headquarters and international organizations, Phu Thinh Green Park is surrounded by a series of important routes, including Quang Trung, Tran Phu, Nguyen Trai, Le Trong Tan, To Huu, Phuc La, Xa La, Nguyen Xien, and Hanoi metro stations. These customers are mostly experts, high-income employees with strict requirements for living quality, facilities, and proximity to expat communities. However, it is difficult for a foreign specialist to access suitable rental housing that meets excellent living standards and apartment quality, even in a big city like Hanoi.
Residents can also walk within five minutes to the metro station, supermarkets, commercial centers, administrative centers, hospitals, schools, and golf courses. Foreign tenants who prefer public transportation will soon have the option of taking the Cat Linh – Ha Dong railway. Furthermore, the project is well connected to Thang Long Avenue, where tens of thousands of international professionals work.
The internal utility system meets all living needs for residents via a 300 square meter overflowing swimming pool, A-class offices, commercial centers, landscaped parks, and rooftop cafes.
“Foreign tenants who prefer public transportation will soon have the option of taking the Cat Linh – Ha Dong railway.”
Green Park Phu Thinh is located next to a 100-hectare sports park with four fresh seasons, suitable for recreation and entertainment. The bulk density of trees is like a natural air conditioner for the local atmosphere. The temperature on summer days is usually 2-3 degrees Celsius lower than in other regions.
Moreover, Phu Thinh Green Park is a place of cultural interference of different countries, which creates a community with diverse lifestyles. Located between the Hyundai Hillstate area and Booyoung Residence, Phu Thinh Green Park attracts a lot of foreigners, mainly from Japan, China, and Korea.
A square meter in Phu Thinh Green Park costs VND27 million ($1,170). The project is now open for sale during the third quarter of 2021. Documents and handovers are legally transparent to ensure the rights and profits of customers. With each apartment handed over, the basic equipment system will be installed according to standard amenities.
“Synchronous development of traffic infrastructure of Ha Dong District is strictly guaranteed for a rental profit of 5-6 percent per year and/or a high capital growth of 30-50 percent in the next two to three years. Green Park is suitable for real estate investors expecting high profits and safety,” a project representative said.
In early 2021, due to the sharp increase of iron and steel prices and transportation costs, the value of an apartment could exceed the purchase price, he added.
Questions & Answers
Q.What is the expected return for investors in Phu Thinh Green Park?
What is the expected return for investors in Phu Thinh Green Park?
Investors can expect a rental profit of 5-6 percent per year. Also, a high capital growth of 30-50 percent is projected over the next two to three years for the Green Park project.
Q.What is the primary reason for the difficulty foreigners face in finding suitable rental housing in Vietnam?
What is the primary reason for the difficulty foreigners face in finding suitable rental housing in Vietnam?
Foreign specialists find it difficult to access suitable rental housing that meets excellent living standards and apartment quality. This issue persists even in large cities like Hanoi, despite their high expectations.
Q.Which specific amenities does Phu Thinh Green Park offer its residents?
Which specific amenities does Phu Thinh Green Park offer its residents?
Phu Thinh Green Park offers a 300 square meter overflowing swimming pool, A-class offices, commercial centers, landscaped parks, and rooftop cafes. It is also next to a 100-hectare sports park.
Q.What was the average price per square meter for an apartment in Phu Thinh Green Park when it went on sale?
What was the average price per square meter for an apartment in Phu Thinh Green Park when it went on sale?
A square meter in Phu Thinh Green Park cost VND27 million, which is equivalent to $1,170. The project opened for sale during the third quarter of 2021.
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