Shocking management fees at some high-end apartment buildings in Ho Chi Minh City.

With numerous amenities such as gyms, swimming pools, and parks, high-end apartment complexes often hire reputable management companies. For this reason, the management fees for these apartments are always high. In fact, the total service fees can reach over ten million VND per month – a significant expense that many people overlook when deciding to buy a luxury apartment.

According to research on various real estate markets, forums, and brokerage firms, the current management fee for some high-end apartment buildings in Ho Chi Minh City ranges from 18,000 to 35,000 VND/m2/month. In some apartment buildings with "ultra-luxury" services, the fee can even exceed 50,000 VND/m2/month.

According to Mr. Nguyen Ngoc Thanh, a broker specializing in luxury apartment rentals, the management fee for an apartment depends heavily on the amenities available in the building, as well as the quality of service and the management's operational methods. However, sometimes this price alone cannot accurately reflect the quality of management and services provided by the building.

For example, at LeIman Luxury apartment building (Ward 6, District 3), the management fee is 18,000 VND/m2, including amenities such as a spa, gym, and playground… but this is a relatively "reasonable" management fee compared to other high-end apartment buildings in Ho Chi Minh City. If you include costs like car parking at 2,700,000 VND/month, the total service fee for a 2-bedroom apartment of approximately 80m2 is over 4 million VND/month.

Leman Luxury's price of 18,000 VND/m2/month is quite "reasonable" compared to many other high-end apartment complexes.

Even higher than this is the Diamond Island project (Thu Thiem Urban Area, District 2) with a management fee of 1 USD - approximately 23,500 VND/m2/month. Thus, for a large apartment like a 650m2 sky villa, the management fee alone would exceed 15 million VND/month, not including other service fees such as parking fees of nearly 1.9 million VND/month. From this, it's easy to calculate that homeowners in this ultra-luxury apartment are spending around 200 million VND/year on service fees.

At another luxury apartment project in Thu Thiem, The River, apartments are priced from 12 to 40 billion VND per unit, depending on size and location. With a management fee of approximately 25,000 VND/m2/month, the largest apartment in this project, measuring 200m2, incurs nearly 8 million VND per month in management fees and parking fees if only one car is used.

Another project in the heart of District 1 is The Marq apartment complex, with selling prices reaching up to 34 billion VND for a 145m2 apartment. The management fee for this high-end apartment complex, according to our research, is 28,000 VND/m2/month. This area boasts advantages such as proximity to the city center and numerous amenities similar to other high-end projects, including: swimming pool, gym, reading room, sauna, BBQ area… To operate these services, buyers of the aforementioned 145m2 apartment would have to spend approximately 4 million VND/month just on building management fees.

Furthermore, in the Thu Thiem area, one of the highest service fees can be found in the Cove subdivision of the Empire City project, with a price of 35,000 VND/m2/month. For a penthouse apartment in this tower with an area of ​​approximately 400m2, the owner is paying 14 million VND/month just for management fees. Including other service fees, the owner of this apartment is spending nearly 200 million VND/year to maintain the apartment's services.

Despite being marketed as having resort-like quality, the management fees at Empire City's Cove tower are higher than those of some other luxury apartments.

"The above are just the typical management fees at high-end apartment buildings. However, many apartment buildings have exceptionally high management fees compared to the average, reaching nearly ten million VND per month. This is partly due to the management company's operational methods and partly due to the number of apartments in the project as well as the accompanying amenities," Mr. Thanh shared.

From the above, it is clear that the high cost of luxury apartments stems not only from the selling price but also from management and service fees. While residents of many projects are still protesting and fighting with the operating company because management fees exceed 10,000 VND/m2/month or haggling over service fee reductions, in luxury apartments, these fees are 3-5 times higher.

Even when considering the management fees, many people might be shocked to find that they are equivalent to the living expenses of an average household. And certainly, not everyone is willing to pay such a large sum for this fee when deciding to buy an apartment.

Source: https://www.congluan.vn/soc-voi-khoan-chi-gan-200-trieu-nam-cho-phi-dich-vu-cua-mot-so-can-ho-chung-cu-cao-cap-tai-tphcm-post258689.html