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Luxury real estate increases attraction because of scarcity

Scarcity drives value added

A lesson that investors always keep in mind is that “scarcity generates big profits”. A prime example is the story of the “legendary” Birkin handbags by Hermes. In the 35 years since its first appearance in 1980, Birkin bags have increased in value by an average of 14.2%, at times skyrocketing up to 25% (in 2015). The reason for this phenomenon is the rarity of the product, a list with a large number of global elite customers waiting an average of about 6 years to own this bag.

Unlike conventional goods that are exchanged for monetary value, luxury goods are measured on the basis of “the perceived value” – based on the degree to which customers aspire to possess in order to satisfy their experiences. their experiences and feelings from the product. Therefore, besides attributes such as quality, workmanship, style…, brands strive to create scarcity with experiences and emotions “not for the masses”, in order to promote price increases. product value.

This rule is not only encapsulated in watches, bags … but also extends to the realm of real estate – the top favorite “shopping cart” of the Asian elite. Specifically, a survey by Expat Insider showed that Vietnam ranked second only to Singapore in the ranking of home ownership needs of the elite in Asia, and ranked 14th worldwide. This passion combined with the need to satisfy personal experiences has created momentum for the excitement of the luxury real estate segment.

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Luxury real estate with limited quantity located in a beautiful location always attracts the upper class

When the pandemic broke out in the past 2 years, the profitable potential of luxury brands did not stop, but confirmed that this is a stable investment channel in the context of volatility. According to information from Singaporean investor – CapitaLand, “all luxury apartments of the Define project were booked in just 2 hours at the project introduction event with an expected price of 23 billion VND (1 million USD)” .

173 luxury apartments for Ha Thanh elites

Hanoi’s luxury real estate market with limited edition has never been the “playground” of the majority. Scarcity is not only about products, shoppers but also brands – product suppliers.

Experts say that the Hanoi market is developed with many luxury apartments, but there is a lack of projects focusing on emotional and experiential values. Especially when the group of upper-class customers is constantly updating “perceived value” according to international standards, the higher the requirements for the development capacity of the project investor. Therefore, as soon as CapitaLand – Asia’s leading international investor from Singapore introduced the Heritage West Lake luxury apartment project, a great “wave” of interest from the elite turned to the project in the region. heritage land of West Lake.

Located on Lac Long Quan street, Heritage West Lake with a limited number of 173 apartments is a rare project developed on one of the last land banks of Tay Ho district. For a long time, Tay Ho has been a “guarantee” of real estate prices that increase year by year thanks to the convergence of bright conditions such as low population density, synchronous development infrastructure, and heritage land. has high cultural and historical value…

From another perspective, 173 apartments is also an ideal number showing that the construction goal of the Singaporean investor follows the planning orientation of Tay Ho district. In which, the purpose is to keep the construction density and low population, ensuring the typical spacious landscape of the area. This is one of the advantages of “brand name” designers, creating cultural and historical imprints in each collection.

In the role of a lifestyle designer, CapitaLand “makes shoes” for each resident of Heritage West Lake when arranging 1:1 parking space, private elevator lobby leading to each apartment. Residents’ “personalized” moments appear right from the moment they step into the tower.

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Exclusive high-rise banquet hall facilities at Heritage West Lake luxury apartment project

In addition, CapitaLand equips up to 40 world-class facilities, bringing a fully emotional living space to residents: a 4-season outdoor infinity swimming pool with a view embracing the romantic West Lake, a banquet hall on High rise, Jacuzzi… In particular, these privileged utilities are only shared with 173 owners of luxury apartments. This is considered a very low level of utility sharing in today’s big cities.

With a limited quantity and a unique living experience in a rare prime location in the heart of Tay Ho, Heritage West Lake offers “perceived value” that surpasses existing standards. Heritage West Lake is a testament to a limited product that touches on full experience and emotional values, convincing the Hanoi elite.

Register to visit the model apartment at hotline: 1800 400 088

Heritage West Lake – Lac Long Quan, Phu Thuong, Tay Ho, Hanoi

Website: www.heritagewestlake.com

Doan Phong

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