Hai Phong real estate market for foreigners

In the past few years, when Vietnam has strengthened its integration and attracted foreign investment, the number of foreigners working and living has increased, leading to an increase in housing demand. Over the years, Vietnam has become a new paradise for many international businesses and corporations.

Hai Phong is developing with 3 main economic pillars: Port, Industrial Park and Tourism.

Especially in the past 5 years, Hai Phong has had a remarkable change from synchronously developed infrastructure, connected traffic, attracting domestic and foreign companies to choose to invest and develop. Since then, many businesses with large FDI capital have poured in, foreign tourists or experts from around the world come here to live, work and live. Therefore, Hai Phong – a promising land full of potential and resilience for foreign customers to come here to develop a long-term career.

Therefore, it is possible to evaluate the potential of the real estate market, especially apartments for foreigners, which is very promising.

However, the demand is great and the supply is limited.

According to a survey by Savills Vietnam, the amount paid for the rental of foreign experts is usually in the range of $900 to $5,000/month. The ability to rent and buy real estate of this group is very large, but in Hai Phong, the number of projects suitable for them is extremely limited. Therefore, all accommodation needs for foreign officials and experts coming to Hai Phong are mainly in the hotel and serviced apartment segment. Due to the limitation of projects that allow foreigners to buy in Hai Phong, many people have to choose to “buy underground” by asking foreigners to buy houses in their name, causing many legal troubles.

With the tendency to rest and enjoy full facilities, foreign experts will normally be arranged by businesses to live in central areas, focusing on places that provide full services and are convenient to move around. transfer.

Meeting those criteria, in the past, Van Cao and Le Hong Phong were the favorite streets of foreign customers.

The area of ​​Van Cao and Le Hong Phong was formerly considered the “Western Street” of Hai Phong. The real estate here is mainly built service houses and prioritized for foreign guests to rent. Around this area, there are many foreign working buildings, Chinese and Korean restaurants, pubs, bars, coffee shops or other entertainment… all along the main road.

However, recently, when the number of consumer customers has increased, the demand for more variety of places to live, the lifestyle in the old streets is now not enough supply – lack of supply facilities, regional price level inflation and lack of fresh breezes . “Western Street” has also cooled down and is no longer the first choice for foreigners when coming to Hai Phong.

 The expat community has developed to a certain extent and has begun to seek and expand its living area to new urban areas, potential and convenient areas that are equally competitive but somewhat supplemented. shortcoming for the old neighborhood.

From Old town to New City are new phrases used recently when there is a mechanical migration, not only Vietnamese people but also foreign experts when moving to new urban areas and apartment buildings to take advantage of new opportunities. Enjoy the conveniences and amenities that these areas have to offer.

With Old Town, the outstanding features are utilities, available infrastructure, a visible bustle, friends, the community is easy to connect with, there is a developed market where brands – Big brands fully converge, convenient to move life.

Coming to New Cites, new urban areas are on the way of filling and perfecting themselves according to the level of urban development, being a new breeze for our daily life and winning the youthful, new variety of facilities, the division of vibrant and quiet areas according to the preferences of each person as well as the completion of infrastructure and security in the area. Because it is a new area, the population density is not much, the facilities may not be adequate, but the choices of accommodation will be more and customers feel good choices.

Hai Phong’s new “heart” attracts foreigners

Especially with the appearance of new urban areas/projects such as Vinhomes Marina, Vinhomes Imperia, Waterfront City, Hoang Huy Riverside, The Minato Residence, SHP Plaza, TD Plaza, etc. Foreign customers love to choose.

Let’s learn more about these new urban areas and projects with Expathelpvn by referring to some of the articles below: