Rental price decrease in Q3/2020

This content is provided by Hoozing

The Covid19 outbreak in the first half of 2020 affected the global economy and with Vietnam’s borders still closed to international visitors, the real estate market is seriously affected. The number of vacant apartments has increased significantly compared to the beginning of this year. 

Average rental prices of Ho Chi Minh's districts

In general, the average (1-2-3 bedrooms) apartment rental price decreased from 3.9% to 5% when compared to Q1/2020. These figures are the result of a decline in tenants’ demand in both short and long term rentals. In the first 6 months of the year, the epidemic made tenants spend less and save more and Ho Chi Minh City’s landlords have been forced to lower rents further with the second wave of Covid-19 impacting demand.

Most popular apartments and their pricing in Q3/2020

Hoozing reports that apartment rents in Ho Chi Minh City decreased by an average of 17% and by 20% in Binh Thanh District, District 4 and District 1. This presents a good opportunity to rent apartments in Vinhomes Central Park and Landmark 81 for a long term with a budget of $750 to $1200 per month. In District 4 rents have even decreased by 20-32% since the beginning of the year, showing that many of the tenants there were tourists or business men with short-term needs.

1. Good prices for 1 bedroom apartments:

• Millennium (District 4)

• Vinhomes Central Park

• Landmark 81

2. Good prices for 2 bedroom apartments:

• Vinhomes Central Park

• Landmark 81

• Sunrise City

3. Good prices for 3-bedroom apartments:

• The Tresor

• Scenic Valley

• The Nassim

Hoozing predicts that prices will continue to stay low, so long-term leases can be secured at great prices at the moment.

For expats who want to find safe and affordable accommodation in Ho Chi Minh City to settle down Hoozing offers a fast & professional rental process to meet your requirements. Contact Hoozing directly via 0906663265 or the main website to make a request.

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In need of a fast & professional rental service? Contact our partner Hoozing to find your perfect apartment. Simply call 0906663265 or visit the website to make a request.

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