There are more than 320,000 foreigners living and working in Vietnam, mostly in big cities, such as Hanoi and Ho Chi Minh City, which is why the Vietnamese government has created several new policies to help foreigners take ownership, transfer and rent real estate properties in the country.
Mulberry Lane is developed by CapitaLand, Asia’s leading real estate developer, and experienced Vietnamese partner Hoang Thanh
According to experts, many foreigners are looking to seize the opportunity to invest in the Vietnamese real estate market after the revised Housing Law came into effect on July 1, 2015.
However, foreigners still face challenges when shopping for their place in the sun. Lim Serene shared her experience of moving to Vietnam from Hong Kong with us. According to Lim, although life in Vietnam is comfortable, finding a quality place to live is not easy because of the language barrier.
According to her, most Vietnamese developers and landlords do not understand the needs of foreigners, such as the weight they place on a safe and convenient living environment. In addition, the terms and conditions of tenancy in Vietnam are not always clear, and most property management boards do not provide sufficient support for foreign tenants.
Lim Serene (Hong Kong) resident and apartment owner at Mulberry Lane
Mulberry Lane Apartment—the right choice for foreigners in Vietnam
Foreigners living in Mulberry Lane appreciate the modern living environment, top-notch 24/7 security, and convenient services. For example, after one-and-a-half years of staying at a Mulberry apartment in Block A, Myung Lim Kim from Korea said that her family is satisfied with the quality of the apartment and finds it extremely convenient, quiet, and clean—similar to her place in Cairo, Egypt, where she used to live earlier. In addition, she especially loves the rooftop garden, where her 19-month-old son can freely play and explore in a safe and eco-friendly environment.
Sung Sik Oh, a resident of Block E, shared similar experiences as Kim, saying Mulberry Lane is one of the best places to stay in Hanoi because of its high standard. His preferences in choosing a home included the quality of the surrounding space and the apartment’s comforts. Mulberry Lane satisfies his needs with its clean atmosphere, the many trees outside the complex, as well as the modern facilities in the apartments. Furthermore, Mulberry Lane’s location is convenient for the commute to work and suits his lifestyle since there are major shopping centres, such as BigC and Lotte, and a bustling Korean community in Keangnam and Trung Hoa Nhan Chinh living close by.
Myung Lim Kim (Korea), resident in block A, often plays with her child in the play-ground
If Kim and Oh were attracted by the green spaces and world-class living standards of Mulberry Lane, Serene from Hong Kong, owner of an apartment in Block E, is pleased with the security of the complex. Safety and privacy are her highest concerns when choosing a place to live, and no other project in Vietnam fulfils these demands as well as Mulberry Lane.
There are security guards working around the clock in the complex and there are cameras installed at every corner of the building to create a multifaceted surveillance system. In addition, there is an emergency system in every house, assuaging her concerns about safety.
Also, in comparison with other properties in Hanoi, the paperwork to rent an apartment is simple and quickly processed with the help of landlords, management agents, and brokers, making the move for her family easy and comfortable.
Mulberry Lane provides its residents a high quality, modern and civilized environment to stay, making it feel like home for most foreigners in Vietnam. Some 20 per cent of Mulberry Lane residents are foreigners from Korea, Hong Kong, Japan, Singapore and other countries. The property is under the management of JLL, an American corporation, which is an important factor to help making Mulberry Lane a “second home” for expats in Vietnam.
In general, with the positive macroeconomic environment, stable politics, and rosy investment climate, the prospects of the Vietnamese real estate market are nothing short of dazzling.