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A few months back, prices luxury apartments for rent increased sharply, many real estate brokers predict it will increase even more in the coming time.
In the past 4 months, the apartment rental market in Ho Chi Minh City has recorded exciting developments when rental prices increased quite a lot. Compared to the same time last year, apartment rental prices have increased by 10-25%.
Specifically, apartments Diamond Island for rent, District 2, rental price has increased from 16 million VND compared to last year from only 14 million/month. Rental price of some apartments belongs to Brilliant court must also be from 1200$/month.
>>> You may be interested in: Why is Diamond Island the most livable apartment complex in Saigon?
According to some real estate brokers, this price is not the highest. In the future, it may increase even more because of scarce supply and rising raw material prices.
Talking about the recent increase in apartment rental prices, Mr. Ngo Quan – contractor of many rental apartments in HCM, said that apartment rental investors have continuously encountered difficulties in the affected years. by the Covid-19 epidemic. Even in early 2022, he still had to leave many apartments empty despite huge discounts. Just in the past 2-3 months, apartment rental market There have been many changes.
When the city entered social distancing due to the strong outbreak of Covid-19, he was very confused when a series of rooms were empty. “Even though they reduced the price a lot, they still paid for all the rooms and up to 70% of the rooms I bid on were empty,” he said.
During that time, he had to pay out of pocket and even borrow money to cover his losses. After the epidemic, he had to upgrade and remodel many apartments for rent. Therefore, new lease contracts increase by 5-10%/month compared to before. Despite the price increase, he said his apartments have been filled to 100%.
Discussing the reasons why the prices of apartments and rooms for rent have increased recently, Associate Professor, Dr. Dinh Trong Thinh – an economic expert, said that one of the reasons is that when apartment prices increase, the price increases. Rent must also increase accordingly.
In addition, the need for accommodation combined with rest and enjoyment is also increasing. This is difficult to get if renting a regular townhouse.
Finally, it is foreigners and experts who have returned and come to Vietnam to work; leading to a sharp increase in demand for renting luxury apartments.
