Home renovations for Tet (Lunar New Year) are in high demand.

The trend of limiting fashion purchases and investing in redesigning and decorating the home for Tet (Lunar New Year) is becoming increasingly popular, especially among young families.

The demand for renovating homes to welcome Tet (Lunar New Year) this year has increased compared to 2023, with many construction companies increasing their projects by 20-30% compared to previous years - Photo: THAO THUONG

Having previously spent tens or hundreds of millions of dong on luxury items during Tet (Lunar New Year), after a difficult year, this need has been replaced by more practical "investments".

According to statistics from the Ministry of Construction , the market value of home renovation in Vietnam is estimated to reach VND 135 trillion in 2023 and increase to nearly VND 150 trillion in 2024, equivalent to a growth rate of 12.5%. Home improvement is expected to see strong growth in 2025. Many businesses and individuals share the view that the demand for home renovations is increasing due to the improving real estate market.

Home renovation services are bustling in preparation for Tet (Lunar New Year).

December is the peak season for home renovation services in preparation for Tet (Lunar New Year). Unlike 2023, from December 2024 to around mid-January 2025, this service market will be more bustling and vibrant, despite witnessing a "gloomy economic year".

Ms. Nguyen Thi Hong (Horizon apartment building, District 1, Ho Chi Minh City) said that since the beginning of November 2024, she has been looking for a contractor to waterproof, paint, and redesign her living room to welcome Tet (Lunar New Year), even though she had no intention of renovating this "luxury" apartment since she bought it.

"Instead, during Tet, I prefer shopping, buying branded items to show off. But now, with so many things fluctuating, I realize that material possessions, real estate, gold... have lasting value. Luxury items are only temporary. I'm renovating my house for Tet and hope that in 2025, the housing real estate market will improve, and I'll have new plans," Ms. Hong said. The cost Ms. Hong paid for the apartment renovation service was nearly 150 million VND, and the construction took 10 days.

LAH (45 years old), a "devotee" of designer handbags and a resident of Le Thanh Ton Street (District 1, Ho Chi Minh City), said she recently sold all her luxury items to recoup the money needed to renovate two apartments in Thu Duc City and her house in District 1 during Tet.

"This year, my children who live abroad came home for Tet. My perspective has also changed; I'm limiting my shopping, since it only happens once a year, so I need to redecorate the house," LAH said.

Market observations show that construction service companies publicly advertise their construction costs online and receive a lot of attention. The price for building the basic structure of a house is 3.3 - 3.6 million VND/ ^m² , but house renovations for Tet (Lunar New Year) have separate labor costs for each item.

For example, house demolition and wall breaking costs 40,000 VND/ ^m² ; foundation excavation costs 45,000 VND/ ^m² ; replacing corrugated iron roofs costs 45,000 VND/ ^m² ; floor tiling costs 65,000 VND/ ^m² , wall tiling costs 65,000 VND/ ^m² , and skirting board installation costs 12,000-15,000 VND/ ^m² .

For example, services such as painting and waterproofing; granite installation, gypsum ceiling installation, and the installation of various types of doors and staircases... require a wide range of labor costs, depending on the materials and the volume of work.

There's a lot of work, and we're worried about a shortage of workers.

According to Mr. Nguyen Van Toi (a construction company in Tan Binh District, Ho Chi Minh City), since October 2024 he has received many contracts for renovation and decoration worth approximately 30 - 300 million VND per project.

"Compared to new construction, we prefer taking on home decoration and renovation projects because it's 'cash in hand,' we get paid immediately, and the costs aren't tied up. The only problem is that during Tet (Lunar New Year), we usually run out of workers, but this year, while contracts have increased, the shortage is severe because most workers have returned to their hometowns as part of the 'wave' of labor migration from Ho Chi Minh City in 2024," Toi said.

Mr. Nguyen Nam (owner of a construction and interior design company in District 12, Ho Chi Minh City) said that this year, the company's home renovation and repair projects for Tet (Lunar New Year) have increased by 30%. Many old customers have returned to seek advice from the company; some are demolishing old houses to build new ones, while others are renovating their homes to celebrate Tet.

"We offer customer care and product maintenance services. Last year, customers were all shaking their heads because their cash flow was stagnant due to unfavorable real estate business conditions. But this year, customers are very willing to spend money; homeowners are ready to invest in renovating their houses, repainting, tiling, kitchens, etc. Some people, especially young families, want a complete transformation of the house's structure and interior to create a brand new home for Tet," Mr. Nam informed.

According to architect Nguyen Thai Thuat Hien, director of LSS Landscape Solutions Service Company, to save costs, renovations should not be delayed until close to Tet (Lunar New Year). Renovations such as repainting, re-sweeping, or minor repairs should be carried out 1-2 months before Tet.

Because limited time directly impacts the quality and aesthetics of the house, if extensive renovations or repairs costing hundreds of millions of dong are necessary, it's advisable to consult with a construction engineer beforehand and allow extra time for decorating according to the family's preferences.

"Just a few small changes, plus some creative ideas, can make an old house look brand new. There are many instructional videos online suggesting ways to refresh your home for Tet (Lunar New Year), so people can search for ideas to find something good and save money," Mr. Hien emphasized.

Freelance workers are also in high demand.

Not taking on large projects or working for a company, Nguyen Van The (Phu Nhuan District, Ho Chi Minh City) is a freelance worker, especially in the construction field. Near Tet (Lunar New Year), Mr. The has many clients from Dong Nai, Binh Duong, and other areas scheduling him for electrical and plumbing work, plasterboard ceiling repairs, and other small details.

"I have my own Facebook page where I showcase my work and often post before-and-after photos of my projects. Many people follow and get to know me. I do work for some people, refer others to me, and so during Tet (Lunar New Year), I'm constantly busy running around everywhere."

"In return, the daily income is quite good. Traveling to provinces or far away like Hoc Mon and Cu Chi districts, plus labor costs and fuel expenses, I earn 2-3 million VND per day. Some years, I still haven't finished work by the 30th of Tet, so even though business is booming this year, my plan is only to work until the 26th of Tet," Mr. The said.

House cleaning services are raking in the money.

Besides repair or "demolition and rebuilding" services, house cleaning before Tet (Lunar New Year) is also a lucrative niche market for many businesses. This demand doesn't just arise during the Tet season but remains stable throughout the year.

"End-of-year house cleaning services are priced by the hour or by area. The hourly rate is 150,000 VND/hour, or by area it's approximately 250,000-300,000 VND/ ^m² depending on the location. For cleanings from the 23rd of the Lunar New Year onwards, this price will increase by 20-30%. However, orders placed before this date will have lower service prices. The reason is that during these days, workers are often students working part-time... who haven't returned home for Tet. Closer to the holiday, there are fewer workers, leading to increased costs," said Phan Minh Hoa (owner of a house cleaning service in Tan Phu District, Ho Chi Minh City).

Meanwhile, a representative from bTaskee Co., Ltd. (a company specializing in providing utility services such as house cleaning, air conditioner cleaning, grocery shopping, etc.) said that this year's Tet season saw a 40% increase in orders compared to normal days, and also higher than last year.

Source: https://tuoitre.vn/tan-trang-nha-cua-don-tet-dat-so-20250108231135522.htm