After 6 months of the Covid19 outbreak in the first half of 2020 that affected the global economy. 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 decreasing rental price of Ho Chi Minh’s District

In general, the average (1-2-3 bedrooms) apartment rental price is the lowest ranging from 5% to 3.9% when compared to Q1/2020. These figures are the result of a decline in tenants’ demand in both the short and long term. In the first 6 months of the year, epidemics made tenants afraid to spend and save more in the short term as well as their changing plans in the future. At this time, Ho Chi Minh City landlords have been forced to lower rents further with the second wave of Covid-19 hitting demand. “The longer the pandemic goes on, the more damage it will cause to me because I have bank debts to pay”. 

Average decreasing rental price of Ho Chi Minh's District
Average decreasing rental price of Ho Chi Minh’s District

Most popular price of Ho Chi Minh for renting apartments (Q3/2020)

Hoozing reports that apartments for rent in Ho Chi Minh City decreased by an average of 17%, especially in Binh Thanh District, District 4, District 1 more than 20%. This is a good opportunity to be able to rent apartments in Vinhomes Central Park and Landmark 81 for a long term with only $ 750 and $ 1200 a month. In particular, the District 4 area rents have fallen 20-32% since the beginning of the year, explaining that many of the tenants there are tourists or businessmen with short-term needs have left.

 

1. The good price for 1 bedroom apartment:

2. The good price for 2 bedroom apartments:

3. The lowest price for 3-bedroom apartments:

After the second COVID wave, Vietnam is well under the control of the epidemic. For 7 days, Vietnam has no new case infections. However, it can be predicted that the price will decrease until the beginning of the quarter 04/2020, so you can consider a long-term lease to get the best price now.

If you are a person who is looking for an apartment for rent and wondering what are the best-priced ones in the market, the infographic can help take a whole observation about the price’s movement and choose a suitable one at a reasonable price. All the above information was taken from the Hoozing’s data management system. 

For expats who want to find safe and cheap accommodation in Ho Chi Minh city to settle down. Hoozing supplies experiencing a fast & professional rental process to meet your requirements. You can check out our blog for ways to break lease contract! Contact us directly via 19003100 or our main website to make a request.

Hoozing – Simplest Way to Settle Down