Vinh City's High-End Real Estate Market: Waiting to be Filled

(Baonghean.vn) - While the real estate market in the two major economic centers of the country, Hanoi and Ho Chi Minh City, is developing very evenly and diversely in all segments, in Vinh, a major economic center in the Central region, the high-end apartment segment seems to be still being left open, and people still lack good and consistent products.

Supply does not meet demand

Vinh City is the economic and political center, the trade hub between the North and the South, attracting many people from big cities like Hanoi, neighboring localities like Thanh Hoa, Ha Tinh... to work, live and travel.

Along with the development of population, economy - society, the demand for quality housing, full of utilities of people living in Vinh city is increasing, while most real estate projects, especially apartment products, are not enough to meet this demand. For example, in Vinh, current apartments often only provide residents with a place to live but do not pay attention to the utilities and services inside, while in big cities, residents living in high-end apartments also enjoy "privileges" right in their own living area such as: children's play area, internal utility landscape, sports area and home services provided by the management board. These are the "deficiencies", not enough to meet the needs of people in the high-rise real estate model in Vinh.

Apartment project at No. 1 Quang Trung Street, Vinh City by T&T Group.

Leading the new trend

According to the market report of the Vietnam Real Estate Association (VNREA), in Hanoi, in the first two months of the year, there were about 2,150 successful transactions, concentrated in the mid-range and high-end apartment segment. In Ho Chi Minh City, this number reached about 2,300, in which transactions in the mid-range and high-end segments with good locations, synchronous infrastructure, and reputable investors accounted for the leading number.

According to many experts in the real estate sector, the luxury apartment segment will continue to be sought after by many people in 2017. Increased income levels and access to modern real estate trends in the world have gradually changed people's thinking and needs for real estate. Instead of choosing land or townhouses on the streets, more and more customers want to own luxury apartments to enjoy the convenience of location, infrastructure system, synchronous utilities; 24/7 security system and professional value-added services. It is time for owning a luxury, superior apartment to truly affirm the owner's class.

In Vinh City, the most dynamic city in the Central region, high-end real estate projects are still "absent", or even non-existent. Is this a great opportunity for tycoons to bring a suitable real estate model to meet the needs of local people and also an opportunity for investors to catch up with the new trend to own a property that will certainly continue to increase in price in the future?

Quenching the thirst for luxury real estate

Currently, many famous enterprises have seized the opportunity and invested in building apartment projects in Vinh, but basically, these projects have not completely satisfied the wishes of city residents. This is the reason why a project, said to be invested by T&T Group, at No. 1 Quang Trung has received high expectations from customers and investors. According to "unofficial" information sources, this project will be handed over in the third quarter of 2018 with a chain of 45 internal utilities and services including: Shopping mall, kindergarten, children's play area, community room, gym, spa, restaurant, cafe... and 1-3 bedroom apartments, area from 47 m2 - 100 m2. If this information is verified, the project will certainly quench the thirst for high-end real estate in Nghe An.

Although the investor has not officially announced the opening for sale, Vinh city residents all agree that the No. 1 Quang Trung project will be very attractive not only to customers with real housing needs but also to investors because of its prime location, right at the busiest intersection in the city. The apartment complex is located opposite Big C shopping center, near Vinh market, near Vinh market bus station, so it is very convenient for business, shopping as well as living... The special thing is that the project has been built up to the 25th floor and customers can see the quality of the project with their own eyes. Through this, it can be said that the investor has strong financial potential, so they waited until it was almost completed to open for sale. This style of T&T Group has also been shown and highly appreciated in the T&T Riverview project that this Group is introducing in the Hanoi market.

PV