Why West Is Best as Hanoi’s Centre of Gravity Shifts
As Hanoi rapidly develops, it’s essential to pick the right location for property. Kosmo Tay Ho talks to a real estate expert about why Xuan La is the place to be…
Although it may be a traditional place valuing culture and history, Hanoi has never been known as a city that stands still. It is always on the up: industry-construction accounts for 29.69% of local economy in Hanoi, and as new developments sprout like mushrooms, thriving residential communities follow.
Mini cities are set to soon abound the Old Quarter, relieving the crumbling centre of its duties as the only Central Business District in the capital. You now have the choice of living in developments everywhere from Hung Yen to Long Bien and My Dinh. Or, you could look closer to home, to the west of West Lake: at Xuan La and Kosmo Tay Ho.
Matthew Powell, the director of Savills Hanoi, and a 12-year West Lake resident, breaks down why West is best for buyers and renters in the next stage of Hanoi’s urban development.
“I’ve seen things move from Hoan Kiem to Pham Hung and My Dinh, then West Lake and now Xuan La. It is already an established area thanks to developments such as Ciputra and Starlake.”
Kosmo Tay Ho is in a great strategic position for now and the future.
“There is a push for the ministries to go out to the west and it is a developing office and residential area. The commercial aspect is growing now too. Plus it is convenient for schooling, for kindergarten and entertainment.
“Access is good to the north, the south and the Old Quarter. Other areas are so dense now, the traffic is getting insane. So people are seeing this and thinking where they should be living and thinking about maximising the lifestyle and minimising the travel time — Xuan La is ideal.”
“The Xuan La, Lac Long Quan and Vo Chi Cong infrastructure is solid. Given the roads, the ring roads, travel times, metros and airport access, the whole area looks like it will be quite open compared to Xuan Dieu and Quang An, which is getting overcrowded and might be unbearable in the coming years with construction. The infrastructure will need to be modified. Tay Ho is going to be dense.”
“There are lots of Japanese, Korean and Western crowds, and the area is getting more popular, especially with the international schools nearby at UNIS.”
Kosmo Tay Ho also bringing education, retail alleys and the CGV cinemas… that part of town is really looking very good.
“There are not many developers who are design and quality focused. A lot of developers in Hanoi don’t have the track record. REFICO, Newtatco and Kusto Homes do. They’re experienced developers with a good reputation.
People are familiar with REFICO because of their work in Ho Chi Minh City, with City Gardens especially and the Watermark in West Lake.
“Kusto Homes has a strong track record — they have done the Diamond Island project in Ho Chi Minh City. So Kosmo Tay Ho in Xuan La will appeal to a lot of people.”
“It is a developing area, Kosmo is going to be sustainable, with strong design and architecture, and the retail aspect, community and cinemas — you can predict Kosmo Tay Ho is going to be a positive investment. It will make a strong case for capital growth and rental demand…”
There is still plenty of skin in the game for investors who get in during the early stages — that is why I am thinking about it myself!
Buy smart, live well with Kosmo Tay Ho
Kosmo Tay Ho is in the heart of west Hanoi, neatly located between major districts and travel routes while maintaining a peaceful atmosphere. Take a look at the development yourself! Visit kosmotayho.com or call +84 901 839 666 now to book your free, no-obligation tour.