Vietnam’s status as one of world's most livable countries brings real estate opportunities

The expat community is often made up of fascinating, knowledgeable, and talented individuals. They choose to become expats and move to another country due to job requirements, a desire for freedom, adventure, or a love for the culture, lifestyle, and people of that country.

In recent years, Vietnam has become an ideal destination. Many people choose Vietnam for the opportunities to develop their talents, increase their income, and get a stable life. Simultaneously, strong economic integration has also led to an increase in the number of foreign experts sent to Vietnam by international companies and corporations. Combined, these factors have contributed to the blossoming expat community in major cities such as Hanoi and Ho Chi Minh.

The expat community is often categorised as a high-income group. They have experienced all sorts of high-class living spaces before, which explains their strict requirements for the home.

In Hanoi, Tay Ho is a popular destination for the elite expats to live and work.

Similar to successful young Vietnamese people, 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 neighbourhood community is also an important consideration factor when expats choose their living space. They want to have similarities in culture and lifestyle, as well as find long-term cooperative relationships.

In Hanoi, Tay Ho is a popular destination for the elite expats to live and work. Located in the middle of the area is West Lake, which is the largest natural lake in Hanoi. The lake is well-known for its poetic landscape and fresh air, an ideal choice for nature-loving expats. In addition, Tay Ho is planned to become the new administrative centre of Hanoi, so the infrastructure is well-invested, making it convenient to travel to the city centre, outskirts, or the airport.

Furthermore, Tay Ho has a high-quality and wide range of facilities and services. Foreign residents can easily choose international schools for their children or international hospitals and clinics for themselves and their families when needed. Restaurants, cafes, and bars are also diverse, bringing different vibes from many regions such as Asia, Europe, America, Latin America, among others.

The vibrancy of West Lake has been heating the real estate market of the region. Many high-end units, suitable for the convenient and luxury lifestyle of the elite customer group, are being developed. Among them, the SOHO (Small Office, Home Office) model is catching people’s attention. A SOHO unit can be used flexibly as both a living home and an office. Although this type of model has already been popular in developed countries, it has only been emerging in Vietnam recently.

In Hanoi, SOHO @ Heritage West Lake is the only project that is developed following the SOHO Model. It is one of the rare shining stars that has satisfied the high expectations of expats and young Vietnamese elites who had lived abroad before. Located on Lac Long Quan street, SOHO @ Heritage West Lake is just a few minutes' walk from West Lake.

From this location, residents can easily indulge in the fresh and stunning ambience of West Lake, or experience lines of vibrant restaurants and bars stretching along the lake. In addition, the real plus points of having a modern design and advanced equipment will easily conquer the hearts of intellectual expats and young elites.

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

SOHO @ Heritage West Lake owns a set of 30 premium internal facilities, providing residents with convenient and luxurious living experiences. As outstanding individuals in the intelligentsia group, foreign experts or young Vietnamese entrepreneurs always understand the importance of staying fit and healthy, physically and mentally.

Recognising this demand, SOHO @ Heritage West Lake has designed 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.

Besides this, CapitaLand – the project developer – also teamed up with Toong - the first coworking space chain developer in Vietnam to create an advanced coworking space spanning over 900sq.m in the building.

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

The Vietnamese real estate market is proving attractive to foreign investors and funds despite the turmoil that domestic real estate investors are grappling with over projects lacking legitimacy, capital, and liquidity.

The real estate investment trust model could help satisfy diversified needs and promise to open up a flexible and effective capital mobilising channel amid tighter control of credit and corporate bond issues.

The Vietnamese government and banks have developed a strategy to improve the credit status of Vietnamese real estate businesses by offering a $5 billion loan package.