Vietnamese people need at least 3 weeks to move house and settle into a new place.

Most users take more than two weeks to find the right place to live (50%), and need at least another week to find the desired moving service (63%).

Real estate services in Vietnam are still considered to lack continuity and lack a developed service ecosystem - Photo: N.BINH

According to a report by Mordor Intelligence, the Vietnamese residential real estate market is forecast to reach a size of 45.62 billion USD by 2029 with a compound annual growth rate (CAGR) of 12.55% during the period 2024–2029. Despite the increasing demand for housing, users still face many difficulties due to the complicated process of renting and buying a house, which requires going through many stages such as: searching, screening, choosing a place to live, meeting and negotiating, signing a contract with the landlord, and then hiring a moving service. According to a survey recently published by Nha Tot and GoGoX, most users take more than two weeks to find a suitable place to live (50%), and need at least another week to find the desired moving service (63%). The lack of connection between stages and having to switch between many separate platforms makes users not only waste time but also spend a lot of effort. Currently, most moving services operate independently and are not linked to real estate platforms, forcing customers to use many separate services from renting/buying a house to moving. This wastes time and effort for customers when having to search and confirm each individual service. The survey also shows that users often search for moving services through many different channels, of which 64.3% use online search engines, 42.9% rely on referrals from friends or acquaintances, and 35.7% search on social networks. At each stage, users have to use many different methods, both online and offline, to select, check information, contact suppliers or brokers, and confirm services. Therefore, most prioritize familiar brands (21.4%) or seek direct support from acquaintances (10.7%). When choosing a moving service, the top factors that users care about are reasonable prices (76%) and easy car booking (53%). Ms. Tran Nguyen Hoang Uyen, director of Nha Tot, said that some proptech platforms in large markets such as the US have fully integrated services from search, finance to home insurance, creating a comprehensive ecosystem that supports users throughout the journey of finding a rental or buying a home. Meanwhile, in Vietnam, current platforms have not yet fully met these needs, especially in the moving stage after completing the transaction. Therefore, the strategy of integrating these services not only brings maximum convenience to users but also promotes the Vietnamese real estate market to get closer to international standards. Recently, Nha Tot has integrated a feature to book a moving service, allowing users to arrange transportation immediately after completing a rental or home purchase contract. Users can easily schedule a 24/7 moving service with transparent, competitive rates and support options such as loading, unloading, disassembly, and a commitment to ensuring the safety of assets during the transportation process, bringing maximum peace of mind to users. Moving services will initially be deployed in Ho Chi Minh City, Dong Nai, Binh Duong and Long An. This model not only increases revenue from associated services but also enhances interaction between users and homeowners through incentive programs, such as discounts on moving services and commissions for homeowners. This is an important step in encouraging the development of the digital economy, contributing to the digital transformation process in the real estate industry in Vietnam.

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Source: https://tuoitre.vn/nguoi-viet-can-it-nhat-3-tuan-de-chuyen-nha-on-dinh-noi-o-moi-2024110513502714.htm