HOUSING POLICY AND CONDOMINIUM LIVING IN HANOI, VIETNAM - EXPATRIATES' PREFERENCES

Abstract

The objectives of this dissertation are to examine the impact of Resolution No 19/2008/NQ-QH12 on the Hanoi condominium market and to understand potential buyers’ preferences. Towards achieving this, it is vital to, through primary research, find out first-hand expatriates’ preferences and developers’ perception about their target groups.

By analyzing socio-economic attributes of expatriates and developers, the author found that expatriates’ demand on condominium housing will increase slightly in the short term. The top constraints were uncertainty of living time in Vietnam, non-transparent housing law and inadequate capital. Also, it was found that there was a mismatch between potential buyers and developers in terms of condominium’s selection criteria. The survey results showed that the top factors influencing their purchase decision-making were:

• Cost factors: purchase price, tax of purchasing and payment scheme • Physical factors: floor area, design and layout, quality of finishes and fittings • Facilities: car park, mini-market within the development and swimming pool • Locational factors: proximity to work, to shop and to Central Business District • Environmental factors: safety, privacy and tranquility and quietness