Room rates increase sharply during student enrollment season

Increased demand pushes up room prices

The need for a stable place to live is always the top priority of students studying away from home. During the school year, this need increases even more.

According to data from the technology platform Batdongsan.com.vn, in July 2024, the level of interest in rental rooms and houses in Hanoi increased by 10% compared to June. In Ho Chi Minh City, the increase was 22%.

Batdongsan.com.vn's price history tool also shows that rental prices in some areas tend to increase from the second quarter of 2024.

For example, in Ward 9 (District 5, Ho Chi Minh City) - near Ho Chi Minh City University of Science, Ho Chi Minh City University of Education, Ho Chi Minh City University of Medicine and Pharmacy,... the common rental price for a room in the second quarter of 2024 is 6 million VND/month, an increase of 50% compared to the same period last year.

Giá phòng trọ tăng — *Room rates in areas with many universities in Hanoi and Ho Chi Minh City are gradually "heating up" during the student admission season (Photo: Huu Thang).*

In Hanoi, in Bach Khoa ward (Hai Ba Trung district) - an area with schools such as Bach Khoa University, University of Construction and National Economics University, the common rental price in the second quarter of 2024 is around 5 million VND/month, which is the highest level in the past 4 years. The rental price in Bach Khoa ward has increased by 25% in the period from the third quarter of 2020 to the second quarter of 2024.

Talking to Batdongsan.com.vn, some landlords in Hanoi said they increased the rent by 10-15% because the real estate purchase price increased, so the rent also needed to increase accordingly.

Similarly, the rental market in Ho Chi Minh City has also witnessed an upward trend in rental prices in recent months, significantly affecting the psychology and behavior of tenants.

Young people choose to live "YONO" to adapt

According to experts from Batdongsan.com.vn, in the current volatile economic context, a new lifestyle called "YONO" has gradually formed and attracted the attention of a segment of young people.

Only one letter different, but YONO (You Only Need One) has a different spirit than YOLO (You Only Live Once) when encouraging minimalist living and cutting costs.

The simultaneous increase in rental prices in areas near universities in big cities like Hanoi and Ho Chi Minh City has posed a cost problem for renters, especially students who are still largely financially dependent on their families or young people who have just graduated and are working with low salaries.

Therefore, the psychology of this group has changed to balance between monthly income and expenses.

According to a survey by Batdongsan.com.vn on consumer rental behavior in the last 6 months of 2024, 47% of respondents chose to rent a room with less furniture and 51% chose to rent a smaller room.

Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan.com.vn said that, by location, tenants in Hanoi tend to accept less furniture and tenants in Ho Chi Minh City prefer to rent smaller spaces to cut costs.

Besides, some other options are chosen including renting a place with fewer amenities and sharing a room.

In addition to the rental price, according to Mr. Quoc Anh, parents and students also need to pay attention to the convenience of transportation and the security of the area surrounding the rental room. Fire safety is also worth paying attention to.

According to the expert, renters need to consider whether the room has an emergency exit and is equipped with fire prevention and fighting equipment, and whether it is near electronics stores or places that manufacture flammable and explosive products to minimize unnecessary incidents.

In addition, tenants should carefully check whether the rental room has hidden cameras installed to ensure personal safety and privacy.

Mr. Quoc Anh predicted that the upward price trend in the rental room segment will continue for at least the next 1-2 months, as the number of students enrolling in Hanoi and Ho Chi Minh City continues to increase.

This requires young people to calculate and adjust spending to ensure harmony between essential needs in life.

Source: https://www.nguoiduatin.vn/gia-phong-tro-tang-nong-mua-nhap-hoc-cua-sinh-vien-204240827143554657.htm