Cheap apartments for rent market in Hanoi has become “cramped” as in the first months of 2017. The mid-range apartments are of interest to the market because of many new suppliers. Let’s research more about the real estate market for rent in Hanoi with Mogi.vn.
People rent apartment in Hanoi maily for rent
Vietnam Real Estate Association (VNRea) has reported the number of real estate transactions in Hanoi in the first months of 2017. Accordingly, the apartment transaction has a decent growth, concentrated in the stool Mid-end high-end apartments, medium-sized projects, or projects that have already been completed, or projects with good progress. Customers buy apartments are mainly for rent, the project in the high-end segment, beautiful location, synchronous infrastructure was purchased by some customers to stay.
Specifically, in April 2017, about 1,050 transactions were successful (up 5% compared to March 2017), mainly in the following districts: Cau Giay, Tu Liem, Ha Dong, Hoang Mai, Thanh Xuan and Households with an area of 70 – 90 m2 are in so much attraction.
Regarding selling prices, prices of cheap apartments for rent in Hanoi are mostly stable, only mid-end apartments tend to decrease due to new supply. Townhouses, villas, individual houses and land in some areas of good transport infrastructure has the phenomenon of price increases.
Prices of cheap apartments for rent in Hanoi are mostly stable, only mid-end apartments tend to decrease due to new supply.
According to statistics of VNRea, a series of apartment for rent in Hanoi targeting medium- and middle-income customers are: FLC Garden City, FLC Twin towers 265 – Cau Giay, FLC Star Tower – Quang Trung (Ha Dong), An Binh City, Taseco Complex, Eurowindow River Park, etc.
Nguyen Chi Thanh, Vice President of the Vietnam Real Estate Brokerage, said that the apartment market in Hanoi in the first months of 2017, the main buyers of the apartment segment today are buyers with destination for rent. These clients are moderately financially sound, demanding not too high on location, but the project must ensure the necessary utilities. The apartments cost from 1.5 to 2 billion Vietnam Dong are more interested.
The supply increased sharply
Real estate and housing market management (Ministry of Construction) said that by the end of April 2017, real estate inventory continued to decline, but the pace of decline has slowed down, mainly inventory land, and projects, which are far from the center without infrastructure.
The projects have favorable location, full facilities and utilities for residents tend to increase prices
Apartment for rent in Hanoi inventory was about 28,369 billion Vietnam Dong, down from 2,654 billion Vietnam Dong (down 8.55%) compared to December 2016, down 624 billion Vietnam Dong compared to March 20, 1974. In particular, the inventory of apartments is 3,441 units (4.969 billion Vietnam Dong); Inventory of low-rise houses: 3,579 units (equivalent to 7,473 billion Vietnam Dong); Inventory of residential land: 3,425,871 m2 (equivalent to 13.402 billion Vietnam Dong); Commercial landholding: 666,139 m2 (equivalent to VND 2,525 billion Vietnam Dong).
Statistics of CBRE Vietnam in the first three months of 2017, there are 9,398 open new cheap apartments for rent in Hanoi from 35 projects across the city. In particular, the middle segment occupies 62%. The premium segment is popular, with the popular segment accounting for nearly three times the fourth quarter of 2016.
Regarding the offer price, the projects have favorable location, full facilities and utilities for residents tend to increase prices. In particular, the middle segment increased at 8.4% and 12.3% respectively. Secondary market, the average price fell slightly at 1.4% quarterly, but increased 0.5% year on year.
According to Mr.Nguyen Van Dinh, vice president and general secretary of the Vietnam Real Estate Association, with the financial accumulated from 500 to 700 million Vietnam Dong, customers can choose to rent apartment in Hanoi of these projects with financial support from the bank and interest rate support from the investor.
There are 9,398 open new cheap apartments for rent in Hanoi from 35 projects across the city
In the context of the highly competitive apartment market, developers have collaborated with design consultancy units and distribution units to offer the best products at reasonable prices to meet the needs of affordability of many customers.
Mr.Pham Trung Ha, general director of Hoa Phat Land, said that the segment of mid-end apartments had an overwhelming supply compared to other segments. However, the demand of the market makes new products have good consumption, there is pressure but not much.
“In the future, the West and Southwest of Hanoi will continue to dominate the supply of mid-range apartments. Areas such as Tay Ho, or Dong Da, Ba Dinh will have more high-end projects. However, domestic investors tend to be more and more interested in the popular segment. Therefore, it is expected that in the last months of 2017, there will be new supply coming from this segment and most of the projects will be located in the non-CBD area, Mr.Ha predicts.
According to a real estate expert, once the leased market slows down, it will directly affect the purchasing power of the apartment segment in the future. Those who have bought and prepared to receive the house will be more anxious, so they should prepare carefully when choosing an apartment for rent in Hanoi.
Thang Tran – Mogi.vn
