9x woman owns 3 apartments for rent advises Gen Z "should buy a house soon!" | Market

From the first raw houses to 3 rental apartments bringing stable income

Ms. Yen Oanh is 30 years old this year. After graduating with a master's degree in international marketing in Singapore, she returned to Vietnam and started her own business. In early 2022, Ms. Yen Oanh's family wanted to find an apartment to rent while traveling, but it was very difficult to find a decent place. Realizing that the rental housing market had not been invested in and innovated to meet customer needs, she boldly bought the first two apartments in Phan Thiet and renovated one in Ho Chi Minh City.

"I bought 2 unfinished houses to reduce costs and then decided to design and finish them to my liking. Luckily, when I posted them on Airbnb, many guests booked them, and I've maintained them until now."

Nữ 9x sở hữu 3 căn hộ cho thuê khuyên Gen Z — Ms. Oanh advises young people to proactively research the market and try to own real estate as soon as possible, but need to be well equipped with the necessary knowledge.

Ms. Oanh said that she receives an average of 15-20 guests per month for one apartment. This year the economy is quite difficult, so customers consider spending on travel and vacations more carefully than in previous years, but if you understand the needs of customers and are meticulous in your care, you can still ensure your income.

In particular, Gen Z is very quick to update trends, has a high aesthetic eye, is proficient in many technologies, learns and applies operating procedures very quickly, and has very interesting personalities... these strengths can help you reach many target customers.

If you want to start, Gen Z can also start by buying an apartment in its raw state, buying it in installments, then decorating it and renting it out. You should take advantage of the time when you are still single, not tied down with family and children, focus on learning, building and operating a rental service for about 2-5 years to be able to stabilize and have a loyal customer base, and at the same time, you can also complete the installment payment and fully own the apartment.

From this first step, if you want to focus, you can continue to buy a house on installments and continue to rent it out. Then, when starting to build a family, young people will have less pressure and have the right to choose better things for life.

Advice for Gen Z: "Consider buying a home soon!"

From her experience, Ms. Oanh found that, "The main customers of the apartment model in Saigon are divided into 2 groups, long-term and short-term. Long-term customers are those who rent for 1 year or more, usually young families who want a better quality living space but are not ready to invest a large amount of money to buy a house. The second is short-term customers from 1 night for the purpose of tourism, work, or young people in Ho Chi Minh City who are tending to travel on the spot." Therefore, the rental needs of customers in big cities are extremely diverse.

Therefore, although the economy is in a slump, with record low savings interest rates and a constantly depreciating currency, Ms. Oanh thinks this is also an opportunity for young people to seize the opportunity to invest in suburban houses, which can be paid in installments and then rented out to both protect the value of the property and accumulate assets.

She shared her experience that if you focus on the rental housing market in Ho Chi Minh City, the biggest advantage is apartment buildings with convenient transportation, easy access to the airport, and less time-consuming travel to the inner city. In addition to the central areas with high traffic pressure, young people can change direction to new urban areas, on the outskirts of the city because these areas have land prices that are only ⅓ of the central area, but the infrastructure is newly invested and has a more systematic planning.

If investing in the suburbs, Binh Duong area has a lot of potential when concentrating a large number of customers with long-term rental needs such as: Young families, students, engineers, technicians, workers, foreigners.

Among them, there are projects tailored for young people - those who want to buy a house for the first time, notably the Phu Dong SkyOne apartment complex, with 75% of the apartments priced at 1.4 - 1.8 billion/unit, the average unit price is only 31.5 million/m2.

Understanding the needs and psychology of young people to buy apartments with a variety of amenities for a rich life such as: Warm water swimming pool, Jacuzzi, food court, BBQ area, bar, children's play area, gym, yoga, convenience store,... is a plus to attract tenants whether short-term or long-term.

At Phu Dong SkyOne apartment complex, you only need to pay 20% in 6 months, equivalent to an initial savings of 280 to 360 million VND, then only pay 7.5 million/month to the investor. (Photo caption)

Ms. Oanh commented that when doing business in rental housing services, open space with lots of trees has an advantage over traffic distance when technology has turned far into near, just one phone call is enough to get around the city.

But you should also note that when choosing to buy apartments for accommodation business, you need to choose projects with a view of the city or prominent buildings. You need to find reputable investors, pay attention to projects that are or will be opened for sale, visit when the apartment is still in its raw state to evaluate the quality and make it easier for the design and decoration process later.

Finally, Ms. Oanh emphasized that the sooner the better if young people want to buy a house, because a house is not just for living, more flexibility in usage will help you reduce financial pressure and can also create a job with many interesting things. And most importantly, Gen Z must prepare themselves with the necessary knowledge to be able to choose the most suitable apartment.

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