Apartments and choice in Hai Phong real estate market

The Hai Phong Real Estate Association (HP REA) has collaborated with TD Group to host a conference themed “Apartments and Choice in Hai Phong Real Estate Market” in the northern port city of Hai Phong.

Mr Nguyen Van Luan, General Director of TD Group, said: Based on studies on living standards, real estate market trends in the past 10 years, land fund and population growth, apartments are now the top choice of local residents.

According to the census in 2009, Hai Phong has more than 1.837 million residents, of which some 847,000 are living in urban zones and over 990,000 are residing in rural areas. The population density is 1,207 persons per square metre. The population keeps growing, while the land fund is limited and can hardly meet the demand. Ten years ago, real estate experts saw living in apartments as an upcoming trend, but now this is a demonstrated certainty. Hence, high-rise apartment buildings are essential in planning living space for modern cities like Hai Phong.

Hai Phong has a few high-grade condos like TD Plaza and TD Lakeside. Thus far, TD Plaza is the first and only commercial complex in Hai Phong which consists of shopping centres, offices, apartments and entertainment spaces. Parkson Shopping Centre at TD Plaza infuses new energy into the retail market in Hai Phong. MegaStar is a modern cinema complex for moviegoers of all ages. TD Plaza has brought a new business and shopping style to Hai Phong – one of most dynamic cities in the country. TD Group’s biggest success in the TD Plaza project is to create a new destination for Hai Phong citizens.

TD Lakeside is a lakeside high-end condominium project, with comfortable amenities like swimming pools, tennis courts, gyms, clinics, kindergartens and supermarkets. Besides, double-tower TD Lakeside is located on the most beautiful downtown street in this port city, an advantage for the apartment complex.

Mr Duong Thanh Nam, President of Hai Phong Planning Association, said the city needs to place emphasis on landscape and architecture. The Hai Phong economy is growing very rapidly and more migrant workers will go to the city to work. Hence, the city needs more modern urban zones to meet the demand.