Environmental criteria increasingly valued in homebuyers’ choices
A separate survey by batdongsan.com.vn on end-of-2024 consumer sentiment found that 86% of respondents were keen on buying a green home, with 88% willing to pay extra for it.
Some buyers are now increasingly concerned with factors such as air quality, green spaces, and the surrounding community, and many are willing to pay a premium for a ‘green’ home. (Illustrative photo: VNA)
Hanoi (VNA) – The environment is fast becoming a leading factor in the search for a home, overtaking the traditional priority of location, as homebuyers pay closer attention to well-being and investors to the potential for real estate value growth.
According to the Vietnam Association of Real Estate Brokers (VARS), this shift has been driven by the reality of urban pollution and the impact of the post-COVID-19 era, which has brought health and wellness to the forefront of people’s lifestyles. Homebuyers are now increasingly concerned with factors such as air quality, green spaces, and the surrounding community, and many are willing to pay a premium for a ‘green’ home. The definition of a “prime location” has also become more flexible, now giving priority to good connectivity.
VARS data showed that environmental factors are exerting growing influence on real estate values, particularly in the premium segment. Projects with lower construction density and lush green spaces command average resale prices 5-10% higher than those in the same area with less favourable environmental conditions.
Furthermore, developments situated near rivers, lakes, or parks – or those boasting comprehensive and self-contained ecosystems – have shown stronger price increases during stable market periods and tend to recover more quickly when the market adjusts.
Pollution in an urban area in Vietnam (Photo: VNA)
Experts from VARS noted that a residential project situated 10-20 km from the city centre can still be more attractive to buyers if it offers convenient access to public transport such as metro lines and highways, and is close to parks, lakes, and schools. In contrast, an apartment in the heart of the city, surrounded by pollution, congestion, heat, and a lack of green spaces, is losing its edge.
A separate survey by batdongsan.com.vn on end-of-2024 consumer sentiment found that 86% of respondents were keen on buying a green home, with 88% willing to pay extra for it.
Experts recommended that investors move beyond the traditional mindset of focusing solely on central locations, and instead prioritise areas with good infrastructure, sustainable planning, and the potential for v♔ibrant communities to emerge./.
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