Will rental house prices increase in the new year?

by worldysnews
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“Brother, please let me check out after Tet”, “Dear, please let me pay the rent a few days late during Tet”, “Honey, please help me transfer the room I’m staying in. After Tet, I’ll probably move back.” “My hometown did it”,… that was the content of the messages and calls that NVT (24 years old, from Bac Giang) continuously received on the evening of the 30th of Lunar New Year instead of messages notifying them of receiving money transfers from customers. Rented as usual.

T confided that he has an older brother who is a real estate broker and specializes in renting old high-rise houses with many rooms from the landlord, investing in furniture and refurbishing them, then running ads. introduced as a mini apartment for sublease at a price of 3 – 4 million VND/month.

“When I first went to Hanoi to study at university, my brother often took me to work with me. Seeing that making money from this job as a rental broker was easy, I became more and more greedy, so busy working that I neglected my studies. , I even asked to reserve my results so I could go to work and earn money first. However, since the COVID-19 epidemic, my work is no longer easy, I am depressed and regretful about neglecting my studies,” T said.

T’s tenant quietly packed up and left and squandered the Tet rent because the price was too high.

Talking to Tien Phong, T said that in 2023, although the economy is difficult, many homeowners continue to demand an increase in house prices even though when renting, both parties made a contract to agree on a fixed rental price for 2 years. Most landlords give the reason that houses in the same area have increased prices, so they must also increase rent.

Because he had paid the deposit and rent for 2 years, and invested money in purchasing furniture and renovating the rooms, T was forced to increase the rent for the rooms to compensate for the additional amount demanded by the landlord. This caused many of T’s tenants to react violently and they returned their rooms one after another, especially near the Lunar New Year.

“There were tenants who asked to pay their rent more than half a month late. I sympathized with them, but after that I couldn’t contact them. When I went to check, the door was unlocked and the furniture had been removed without anyone knowing. After that, they called me back to say they were sorry, but because the room fee was too high, they had to run away…”, T said sadly.

According to an actual survey, despite a difficult year, not only the rental housing segment increased in price, but the housing market in major cities such as Hanoi and Ho Chi Minh City continued to escalate.

According to the recently released Report on Real Estate Consumer Trends and Psychology (CSS) by Batdongsan.com.vn, in the second half of 2023, among the three common reasons for people wanting to rent a house, “flexibility is a priority.” active”” accounted for 38%, “did not want to buy a house because the price was not reasonable” accounted for 29% and “did not have enough money to buy a house” accounted for 26%.

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