Expat community a force reshaping Vietnamese real estate

By Phong Van    March 17, 2023 | 05:00 pm PT
The influx of expats into Vietnam, especially the capital Hanoi, has brought changes in various fields to meet their needs, including in real estate.

Vietnam was the seventh best destination in the world for expats, according to the 2022 Expat Insider survey by InterNations, which threw up opportunities for the country's real estate.

84% of expats in Vietnam said they are happy with their lives compared to a global rate of 71%.

Several factors have contributed to the blossoming of expat communities in major cities such as Hanoi and Ho Chi Minh.

Many people choose Vietnam for the opportunities it offers to develop their talents, increase their incomes and achieve a stable life. Strong economic integration has also led to an increase in the number of foreign experts sent to Vietnam by international corporations.

The expat community is often categorized as a high-income group. They have experience of all kinds of high-class living spaces, which clearly explains the strict requirements they have for their homes.

Like successful young Vietnamese, they place a strong emphasis on criteria such as diverse facilities, spacious living area, and a convenient location to experience a comfortable life like in developed countries.

The local community is also an important consideration when expats choose their living space. They want to have similarities in culture and lifestyle and find long-term relationships.

In Hanoi, Tay Ho is becoming a popular destination for elite expats to live and work. Located in the middle of the area is West Lake, the city’s largest natural lake. It is well-known for its lovely landscapes and fresh air, an ideal choice for nature-loving expats.

Besides, Tay Ho is set to become the new administrative center of Hanoi, and so the infrastructure is well developed, making it easy to travel from there to the city center, outskirts or the airport.

Furthermore, Tay Ho has high-quality and wide range of facilities and services. Foreign residents can easily choose international schools for their children and international hospitals and clinics for themselves and their families if needed.

There is also a diverse range of restaurants, cafes and bars, bringing the vibes of many regions such as Asia, Europe, N America, and Latin America, etc.

This vibrancy has been igniting the real estate market of the West Lake area. Many high-end apartments, meeting elite customers’ need for convenience and luxury, are being built. They include the SOHO (small office, home office) model, which is catching people’s attention.

A SOHO unit can be used flexibly both for living and as an office. Although this type of model is already popular in developed countries, it has only been emerging in Vietnam in recent years.

SOHO model unit. Photo by SOHO @ Heritage West Lake

SOHO model unit. Photo by SOHO @ Heritage West Lake

SOHO Heritage West Lake has been developed on the SOHO model. It is one of the rare shining stars that satisfies the high expectations of both expats and young Vietnamese elites who have lived abroad. Located on Lac Long Quan street, SOHO Heritage West Lake is just a few minutes' walk from the West Lake.

Here, residents can enjoy the fresh and stunning ambience of the West Lake and the myriad of vibrant restaurants and bars stretching along the lake. Besides, the real plus points, a modern design and advanced equipment, will conquer the hearts of the intellectual expat and young elite alike.

The design, services and amenities of SOHO Heritage West Lake are in no way inferior to high-end project complexes abroad.

A corner of the SOHO Heritage West Lake hall. Photo by SOHO Heritage West Lake

A view of the SOHO @ Heritage West Lake hall. Photo by SOHO @ Heritage West Lake

The project itself also focuses on building a modern, civilized and international community. Therefore, even if residents do not have much time to go out, they can still find the opportunity to connect and widen their networks right within the building.

SOHO Heritage West Lake has 30 premium internal facilities that offer residents a convenient and luxurious living experience. As outstanding individuals in the intelligentsia group, foreign experts and young Vietnamese entrepreneurs understand the importance of staying fit and healthy, physically and mentally.

Recognizing this demand, SOHO Heritage West Lake has a range of state-of-the-art health and wellness utilities.

This includes a four-season swimming pool that does not use chemicals, an outdoor fitness area offering a unique blend of nature and fitness and a fully-equipped modern indoor gym and yoga studio.

The fitness room of SOHO @ Heritage West Lake. Photo by SOHO @ Heritage West Lake

The fitness room of SOHO @ Heritage West Lake. Photo by SOHO @ Heritage West Lake

Besides, CapitaLand, the project developer, also teamed up with Toong, the first co-working space chain in Vietnam, to create an advanced co-working space spanning over 900 m2 in the building.

Not just a place to live, SOHO Heritage West Lake also focuses on creating a dynamic lifestyle and a civilized, international community.

Every aspect of SOHO Heritage West Lake has been carefully crafted to meet the needs of elite expats and young Vietnamese entrepreneurs, making it the perfect choice for their dream home.

With the current imbalance in real estate supply-demand in Tay Ho, a SOHO project like SOHO Heritage West Lake is expected to sell out soon.

Find more information about the SOHO Heritage West Lake Tower of the Heritage West Lake project at:
Address: 677 Lac Long Quan St., Tay Ho, Hanoi
To visit a model unit, please call 1800 400 08.

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