Cau Giay Apartment Price Increases in H1.2021

In Cau Giay District since 2017, the primary price for apartments increased 14% per annum.

According to the Savills Quarterly Market Report, primary prices have increased for the 10th consecutive quarter. Hanoi’s improving infrastructure and development standards have contributed to the price surge. Also the pandemic delayed launches creating a five-year low in supply.

Mr Nguyen Duc Them, Senior Manager, International Residential Sales said, “Apartment prices in the West have increased, especially in areas that have improving infrastructure, schools and that surround the urban railway line. Cau Giay District benefits from high quality healthcare and education facilities, as well as Metro Line No. 3.”

According to the Hanoi Metropolitan Railway Management Board (MRB), Metro line No. 3 could be operational by Q4/2021 as overall progress has reached about 72%, and the installation of information, signals, and power supply for overhead stations is finished. Metro line stations have contributed to the apartment price increase. Research by The Environment for Development (EFD) showed that prices, in housing within a 3km radius from a metro station, increased by 15%, and 5%  for those within 3- 5km. Prices near the Nhon - Hanoi metro line have increased between 20 and 100% since 2012. 

Research by The Environment for Development (EFD) showed that prices, in housing within a 3km radius from a metro station, increased by 15%, and 5%  for those within 3- 5km. Prices near the Nhon - Hanoi metro line have increased between 20 and 100% since 2012.

The West’s increasing desirability has led to an increase in luxury offerings like The Nine, located at a strategic gateway on Pham Van Dong street, the project is considered as "Wall Street" in Hanoi with aiming to bring an American lifestyle in the heart of the West of the capital.

Mr Matthew Powell, Director of Savills Hanoi, said that real estate in western Hanoi has a good concentration of projects and housing, “The Nine is a fascinating luxury apartment project that is located near schools, office buildings, a freshly built metro line, shopping centres and has easy access to the ring road to the airport. Its strategic location, good design and high-quality facilities will attract foreign buyers.”

Savills Vietnam has been appointed by GP Invest as the official agent for the project. The Nine is one of many Savills high-quality projects across the country, including Hanoi, Ho Chi Minh City, and other resort destinations. 

To book a private consultancy or to find out more contact

International Residential Sales

Hotline: +84 963 561 661

Email: hanoisales@savills.com.vn

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