Home rental market booming
Searches for rental properties in Hanoi and Ho Chi Minh City surged 101% in January against last year, while rents rose, according to the real estate website Batdongsan.
In Hanoi, searches for rental apartments and houses increased 112% and 38%, respectively. The respective figures for HCMC were 157% and 107%.
The average rent of apartments in Hanoi and HCMC climbed up 8% and 4%, respectively. The average rent of rental houses increased 33% in Hanoi and 18% in HCMC.
Dinh Minh Tuan, head of Batdongsan in the southern region, said the reasons include a higher demand from enterprises and migrant workers.
He said some firms, which downsized last year, are now renting premises with an area of 50-70 square meters in apartment blocks in city centers.
The higher demand has led to higher rents.
Selling prices of apartments have increased 30-40% over the past two years, but rents have risen at lower rates.