According to data recently released by Batdongsan.com.vn, in the first half of 2023, the number of real estate rental listings decreased by 4%, but the demand for rental increased by 101% over the same period. In particular, in Ho Chi Minh City, the number of customers interested in rental types such as apartments and boarding houses also increased by 157% and 107% over the same period. Along with that, rental prices also increased slightly by 4%.
In fact, in the southern area of Ho Chi Minh City, the Flora Mizuki apartment complex in the Mizuki Park urban area has a fairly stable number of tenants. The rental price in this area ranges from 8-10 million VND/apartment with two bedrooms from 56m2-71m2. Higher than the general level and prices in previous years.
Similarly, the rental price in Saigon Riverside area (District 7) also fluctuates from 7-14 million VND/apartment with an area of 53m2-85m2. Apartment rental prices in this area generally increase slightly due to the increasing demand after Tet.
With this type of room in this area, the price also increased from 10-20%. With high-end rooms fully furnished, the price ranges from 5.5-6 million VND/room from 20m2-35m2. Especially Duplex rooms are popular, many people are looking to rent in this area.
Duplex rooms are also more sought after.
In the western area of Ho Chi Minh City, some apartment projects such as La Astoria, The Kris Vue, D-Home... have also increased sharply compared to the same period. The rental price of 1-bedroom apartments ranges from 7-12 million VND/apartment depending on the project. Specifically, at the La Astoria project (District 2), the rental price ranges from 9-20 million VND for apartments from 56m2-99m2.
It is worth mentioning that the actual rental demand for apartment types with many amenities, near supermarkets and major streets has increased sharply. Although prices have increased compared to the same period, the number of tenants has remained very stable from the beginning of 2023 until now and is gradually increasing slightly.
In more remote areas such as Thu Duc or Di An ( Binh Duong ), the apartment rental market has also increased strongly compared to 2022. There are projects with slightly increased rental prices such as Opal Boulevard or SG Avenue with prices ranging from 7.5-10 million VND/apartment for 2-bedroom apartments.
The reason for the increase in rental prices is that many customers do not have enough money to buy a house, some people are waiting for the house price to decrease to its real value or some groups are renting for tourism business.
In addition, due to the increasing urbanization trend, the number of immigrants to the suburban areas is increasing. Due to their unsuitable economic capacity, they choose to rent houses, causing the demand for renting apartments and boarding houses to increase.
Demand for fully furnished apartments is increasing.
The increasing demand for rental housing also shows the prosperity of this market in the coming time. This is probably a good signal for the real estate market in general in the current context when the real demand is still high. It is also the direction for investors when focusing on developing projects with full amenities and accompanying services, meeting the rental investment needs of customers.
In the coming time, the amount of goods supplied to the rental market will increase because investors who have not yet "sold out" will switch to leasing while waiting for transfer, helping to flexibly manage cash flow in difficult circumstances.
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