Southern Sai Gon: the inevitable trend in the wave of displacement of foreign experts
Great potential from the market share of apartments for foreigners
According to a survey of HSBC recently published, “Vietnam is ranked at the first position in term of trust with 72% of experts say that moving to Vietnam help them save more money and have better disposable income than what they can do when working at their home country”. Trusting in Vietnam as a long-term workplace, foreign experts tend to bring their families to Vietnam to live.
Because the office-tel in the central areas of which functions and use is unable to satisfy the accommodation for the whole family, the demand for buying or renting housing becomes larger. Since the Housing Law allows foreigners to buy housing in Vietnam, the real estate market has been more bustling. However, because of the apprehension or short-term use, many people still choose to rent housing.
Since then, the trend of investment into apartment for foreigners has grown, becoming a high and stable source of profits. A recent report by HSBC also shows that the average annual salary for a foreign expert who moves to work in Vietnam is 78,750 USD, higher than the global average salary of 75,966 USD. With this income, it is considered comfortable to pay for expenses such as housing rent, tuition and transportation. This is a favorable “leverage” for housing segment, luxury apartments for rent
Why is it Southern Sai Gon?
Regarding location, foreigners often choose to rent housing in central districts such as District 1, District 3. Recently, they are tendentious to choose to rent housing in riverside areas, especially Southern Sai Gon. Living environment in this area is suitable for foreign experts; they are cool climate, civilized community, closeness to international schools, entertainment areas, shopping centers …
And Phu My Hung with a large number of foreigners like South Korea, Japan, and Taiwan is a clear evidence. This area is known as the “Asian town” in the heart of Sai Gon and the speed at which foreigners moving here is getting faster and faster.
Besides food, entertainment, educational facilities for foreigners in the Southern area are considered as the most outstanding strengths. We can mention some famous international schools which teach via the native language such as, International School of Taipei, Japan, Korea. When the environment and services for families are focused, the trend in which foreign experts move here will be indispensable.
In Savills’ evaluation report on the segment apartment for rent, the rate of lease apartments for foreigners in southern area is always high, from 80% to 85% of total number of apartment for rent and this figure tends to increase sharply.
“Foreigners rarely compare rental prices; what they care about is living space and facilities. So when choosing an apartment project to exploit for rent, I am very focused on this point”- A customer who is investing in the apartment at Sunshine Sky City project said.
According to the Investor, Sunshine Sky City possesses outstanding advantages to become a living symbol for foreigners in the Southern area. The project has a convenient location, located next to Phu My Hung – which a previously civilized foreign community. Sunshine Sky City is also heavily invested in facilities such as: green areas, internal rivers, landscape lakes for a luxurious resort living space. Library, restaurant, rooftop bar, cafe, gym-fitness, Sunshine Maple Bear International Kindergarten are also not missing.
Sunshine Sky City is also a pioneering project in Southern Sai Gon which is invested with superior living technology “Smart Living 4.0”. With “Smart Living”, an apartment is not simply a smart apartment with remote controlled devices. It is a closed technology system with various smart solutions to serve the whole life of residents, including: Smart Parking – the smart car park with the ability to automatically select and notify the vacancy when the car comes to the parking lot. ; Smart Security – Smart protection with Face ID technology that identifies the owner; Smart Home is invested with in the most advanced equipment; Smart Management – technology of setting scenario based on daily needs, with just “one touch” of all operations are at hand.
Integrating in economic playgrounds, Vietnam is becoming an ideal working destination for foreign expert circle, therefore the demand for accommodation will increase in the near future. This is a great bargain for apartment investors towards this tenant market share.