The average primary selling price of apartments nationwide is also high when new supply to the market is mostly products priced over 40 million VND/m2, with almost no projects in the affordable apartment segment.
Apartment projects in cities are constantly setting new price levels, and rental prices for old and new apartments in residential areas are constantly increasing. Especially since mid-2022, when rental contracts during the peak of the epidemic period expire and can be renewed if both parties continue to have needs. Many apartments have increased prices by up to 40% compared to the peak of the epidemic, and increased by about 20% compared to mid-2022.
Many young people choose to rent House
High apartment prices make home ownership increasingly difficult for the majority of people. Although loan interest rates, including home loans, have decreased, home loans and monthly repayments are still a burden for many families when people are not really confident in their work situation and income. future income due to fluctuating economic conditions.
According to VARS, rental demand is still on an upward trend while available supply is in short supply due to the continuous decline in housing supply, especially apartments, causing rental prices to increase.
Specifically, apartment rental prices in Hanoi have increased relatively sharply in recent years, especially in the studio type (1-bedroom apartment) with a profit margin up to twice as high as that of larger apartments. larger volume.
The Realtors Association’s forecast shows that house rentals will continue to increase sharply, thanks to the increase in the large number of foreign experts coming to Vietnam through FDI projects. Especially in the context of consumer trends that have changed a lot.
As the millennial generation accounts for 47% of Vietnam’s population, they focus more on lifestyle, living environment, and utility systems to improve quality of life. “They will mostly choose to live in apartments with full amenities and a better living environment – something that residential real estate at a similar price cannot have. Renting a house is also the preferred choice of this generation. this”, VARS analyzed.
Apartment rental prices in apartments in Linh Dam, Hoang Mai District, Hanoi City have continuously increased in recent times (Illustration: Ha Phong).
Reporter survey Dan tri shows that in some districts of Hanoi such as Hoang Mai, Thanh Xuan, Cau Giay, Ha Dong… 2-bedroom apartments are being rented at a price of 8.5-15 million VND/month, which has increased by 10-10 million VND. 15% compared to the same period last year and about 30-40% compared to 2022. 3-bedroom, fully furnished apartments have higher prices, with a lower increase, about 10% over the same period, to about 16-20 million VND/month.
For example, in an apartment building on Nguyen Tuan street, a fully furnished 72m2 apartment is being offered for rent for 15 million VND. This rental price increased by about 15% over the same period.