This is the result of a small survey by Toan Canh for tenants of apartments in Binh Thanh, District 1, Old District 2 (An Phu and Thao Dien). In which, more than 90% of respondents said they were supported by landlords to reduce rent by at least 30% in 3 months of blockade. Ms. Hong Anh, who is renting a 3-bedroom apartment in a high-class apartment building, said that even though she didn’t ask, the owner automatically texted her to reduce the rent by up to 50% for July, August, and September, making her very surprised and touched. In return for the goodwill of the landlord, she offered to pay the management fee which is the obligation of the landlord for these 3 months. She said “if it’s difficult, everyone has a hard time, the apartment I rent is 45 million/month and she halves it, so I also pay 3 million in fees, so it can be reciprocated”.
Mr. Tien Minh said that his guest went to Da Nang and was stuck for 3 months unable to return to Saigon. Knowing the story, he waived 2 months’ rent for guests. “It was an unexpected accident. Guests who have just been in for a month, then they are stuck on business trips, if they don’t stay and have to pay two-headed rent, it’s too bad. It must also be true that thanks to the customer’s contract, I was able to clear the empty house for up to 3 months. Well, I’ll sacrifice 2 more months to help the guests.”
“Most of the rental contracts in the mid- and high-end segments have deadlines and tight schedules. There is no automatic price increase between the contract term. Very few landlords raise prices at the end of the contract during this period, because everyone understands the situation. In order to keep customers from extending the rental period, keeping the price the same is the safest way,” said Mr. Nguyen, a longtime broker and homeowner.
There is a “shift” of the single group.
Kim Oanh, 28 years old, moved house on October 2, 1 day after Ho Chi Minh City. Ho Chi Minh City allows reopening of some activities. She rents a 2-bedroom apartment at Vinhomes Golden River for VND28 million for 1 year. The outbreak of the 4th wave of outbreaks affected her work, resulting in a 30% decrease in income. So, right after the blockade was the end of the contract, she decided to change to a 1-bedroom apartment in the same building for 14 million to reduce costs. Oanh said “it is true that a lower price tag means a less comfortable, less comfortable interior. Parents’ friends come to visit often when there is no place to sleep, which is also inconvenient. However, to ensure financial security, this is a must and it is quite normal. If you make a lot, you spend a lot, if you make less, you have to spend less.”
Minh Phu, 26 years old, has just moved from a 2 bedroom apartment of Masteri Thao Dien with a rental price of 20 million VND to an apartment in Binh Thanh for only 7 million. Asked why you decided to “go down” so deeply, Phu said that you decide to use up to 60% of your income to experience high-quality living space. you will increase by 20% compared to the present, you will probably still stay at Masteri.However, after knowing the salary will not increase, you decide to reduce your housing costs as much as possible in order to have more savings. I haven’t saved much in 4 years, enjoying that is enough, so I decided to reduce the rental cost. Actually, this apartment is not that bad.”
After 4 months of blockade, residents of Vinhomes Golden River, Vinhomes Central Park or some apartments in District 2 also had an “internal shift” scene from large apartments to smaller apartments, or from high-priced apartments to apartments. Prices are lower to save money. Information received by Panorama. Most of the 1BR apartments in the mid- and high-end segments are fully filled and are somewhat scarce, while 2BRs are quite abundant.
Customers asking to rent are still many but the budget is lower
Contrary to the comment that the rental market is freezing, many brokerage companies confirm that the number of customers asking to rent luxury apartments in Binh Thanh and District 1 is still high, only the budget is lower. Tran Phat, a broker, said, according to the data he has, the number of transactions in October at Vinhomes Central Park is over 300 contracts, Vinhomes Ba Son has nearly 200 contracts.
Thuy and her husband, in Saigon Pearl, are looking to change their living environment to a better place with the same budget of about 16-18 million/two-bedroom apartment. She read the information that the apartment rental price decreased due to the lack of tenants, so she searched for a higher segment in the same area but had to give up because she could not choose a satisfactory apartment. Most apartments in the high-end segment have good views and furniture, but the number is not much. With the same amount of money she is paying, she can only find unfurnished houses or very basic furniture.
