(Dan Tri) - Many townhouses and villas in Hanoi have a selling price of several tens of billions of VND, but the owners can only rent them out for about 10 million VND/month.
Mr. Tran Khanh (Nam Tu Liem district, Hanoi) shared that in the middle of last year, he spent 22 billion VND, including 8 billion VND in bank loans, to buy a 70m2 townhouse in an urban area in Ha Dong district (Hanoi), equivalent to nearly 315 million VND/m2.
He calculated that after buying it, he would rent it out to get money to pay back the bank loan. However, he advertised it for rent at 20 million VND/month but could not find any tenants. After Tet, he asked a broker to find tenants and learned that the rental price for unfinished townhouses in this urban area was only about 10 million VND/month. If he spent about 500 million VND to complete it, the house would be rented out for about 13 million VND/month.
"For more than half a year, there have been no tenants, but every month I still have to pay more than 70 million VND in principal and interest to the bank," he lamented.
An urban area in Ha Dong district, Hanoi (Photo: Duong Tam).
Similarly, Mr. Hoang Cong (Cau Giay, Hanoi) said that in October 2024, he spent nearly 14 billion VND to buy a 75m2 townhouse in an urban area in Hoai Duc district (Hanoi). After that, he found a tenant for 12 million VND/month.
However, after only 2 months, the tenant requested to reduce the rent to 9 million VND/month due to poor business. Mr. Cong also tried to find a tenant to replace him but was unsuccessful, so he had to accept a rent reduction to keep the tenant.
"Comparing with the adjacent houses in the same urban area, I was shocked when the current rental price of similar houses has dropped to around 10 million VND/month. With the amount of money spent of tens of billions of VND but only earned that much, not equal to the profit from depositing money in the bank," said Mr. Cong.
According to a survey by Dan Tri reporters, currently in Hanoi, many townhouses and villas are being rented out for only 9 to 13 million VND/month. Meanwhile, the buying and selling price of these houses is around 15 to 40 billion VND.
Many townhouses and villas are being offered for rent at 9-13 million VND/month (Screenshot).
For example, a villa in an urban area in Ha Dong district with an area of 162 square meters is being offered for rent at 12 million VND/month. Meanwhile, similar villas are being offered for sale on the market at a price of about 27-28 billion VND.
Mr. Nguyen Van Son - head of the leasing business department at a real estate company in Hanoi - said that many townhouses and villas in projects in Hoang Mai, Ha Dong and Hoai Duc districts have a selling price of 20-40 billion VND but the rental price only fluctuates between 9-13 million VND/month for unfinished houses. For completed houses, the rental price will be about 3-4 million VND/month higher.
According to him, currently most of the townhouses and villas in urban areas are rented by online store owners to use as warehouses, because they have the advantage of wide, airy roads for easy transportation. However, the rental situation is also quite gloomy, many people have returned the premises.
Ms. Hoang Nguyet Minh - Senior Director, Commercial Leasing Department, Savills Hanoi - said that the lack of tenants comes from the fact that most of the shophouses opened in urban areas cannot meet the population. The population in that area is not enough, which will lead to many shophouses in urban areas being vacant or even having very low rental prices but still having no customers.
Therefore, according to this expert, for shophouse areas, the most important factor that can ensure the success of the shophouse area is the design and structure of the tenant portfolio. In the initial stage, investors should consider providing free rent support for tenants, even for the first 1-2 years to build the model and wait for the population to move to urban areas.
According to him, business people's habits have also changed compared to before. They no longer depend on physical premises but can sell goods online. The rental price of townhouses has decreased significantly in recent times, not just other types of premises.
Source: https://dantri.com.vn/bat-dong-san/khoc-rong-voi-biet-thu-lien-ke-chuc-ty-dong-gia-thue-hon-10-trieuthang-20250310030943290.htm
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