Halong property market sees rising demand for mid-end apartments

October 03, 2018 | 17:12
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The property market in Halong City is seeing a rising demand for mid-end apartments, driven by a shift in home choice as well as demand for investment.
halong property market sees rising demand for mid end apartments
The bird view of Green Bay Garden.- VNS Photo

Mid-end apartments in the bustling tourism city have in recent years attracted significant attention of home seekers and investors from Hanoi and neighbouring provinces.

Nguyen Thanh Trung, an employee of Minh Khang Import-Export Joint Stock Company, has just got married and is looking for an apartment for his family. Trung decided to buy an apartment in Green Bay Garden.

This is a new trend in home choice in Halong, especially among young families.

Young families now tended to choose apartments over houses because of reasonable prices, good living environment, modern facilities, security and standard planning.

A property investor from Hanoi said that Halong’s apartment market was attractive because the supply was still limited while demand was high. It was not only easy to lease apartments here but the return from leasing was also quite good and stable, he said.

According to a representative from a real estate trading floor in Halong, his company saw a dramatic increase in the demand for mid-end apartments in the city.

He said besides the rising demand from local residents, the demand came from investors from Hà Nội who sought apartments here due to the prospects of high added value and good profits from leasing.

For Green Bay Garden alone, ten apartments were sold within a week.

He said that the improved infrastructure, especially the opening of the Halong – Hai Phong expressway early this month, significantly pushed up prices of property in the tourism city.

According to the Vietnam Real Estate Association, the mid-end apartment segment of Ha Long would soon catch up with the development in Ha Noi with the momentum gained from the rapid socio-economic development of this coastal city.

While the supply of mid-end apartments in Ha Long remained limited, Green Bay Garden arose as a good choice. Green Bay Garden is developed with the understanding of customers’ minds. Home was now not simply a place to shelter from rain, it must be a place where families live a good life, according to the developer BIM Group.

Located in BIM Group’s 248-hectare Halong Marina Urban Area, Green Bay Garden lies in the heart of Ha Long with good transport connectivity.

The apartment project also benefits from the developed infrastructure of the urban area with a number of component projects finished and put into operation such as Halong Marine Plaza, Green Bay Towers, Green Bay Premium, Sunrise apartments, Coral townhouses and Little Vietnam shophouses.

From Green Bay Garden, it is easy to travel to tourist attractions, recreation spots, parks, schools, markets and hospitals within just three to five minutes drive.

It also has different apartment designs to meet the diversified demand of home buyers and investors, including studio apartments, one-bedroom apartments, two-bedroom apartments and apartments with gardens.

Prices range from just VND600 million (US$26,000) each.

The project is expected to be handed over to buyers in the second quarter of 2019.


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