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Hanoi’s condo market attracts flow of foreign capital

 According to experts, Vietnam’s real estate market will continue to charm foreign investors thanks to high liquidity and alluring profit-making prospects. The latest report by CBRE, a leading real estate advisory firm, showed that a total of 8,800 new condos were put on sale in Hanoi’s realty market over the first quarter this year, 6,600 units of which have already found buyers. CBRE also forecasted a 9-per cent jump in the volume of condos sold this year compared to 2017, reaching 28,000 units. The plentiful supply aims to keep up with current burgeoning market demand, particularly from the soaring number of city dwellers, most of whom are young people. Well aware of the trend, Terence Chan, director of Golden Emperor, one of Hong Kong’s leading outbound real estate firms, said that large-scale infrastructure projects and strong foreign capital flow are among the factors that have led to the booming economic development in Hanoi and stimulated the real estate market. In the condo sector, Gamuda Land with its award-winning condo project – the ZEN Residence (Gamuda Gardens in Hanoi’s Hoang Mai district) – holds distinct advantages complemented by a smart infrastructure system that connects with major roads.