{"id":101871,"date":"2024-12-09T16:52:00","date_gmt":"2024-12-09T08:52:00","guid":{"rendered":"https:\/\/iqiglobal.com\/blog\/?p=101871"},"modified":"2025-03-03T09:56:30","modified_gmt":"2025-03-03T01:56:30","slug":"ho-chi-minh-city-rent-increase-2024","status":"publish","type":"post","link":"https:\/\/iqiglobal.com\/blog\/ho-chi-minh-city-rent-increase-2024\/","title":{"rendered":"Vietnam: Ho Chi Minh City Rents Surge 20% in 2024 Amid High Demand"},"content":{"rendered":"\n

This article is contributed by Dustin Trung Nguyen, Country Head of IQI Vietnam<\/em><\/em><\/p>\n\n\n\n

\n\n\n\n

The cost of renting rooms in Ho Chi Minh City has risen by 20% in the first 10 months, reaching a minimum of VND3 million (US$118) per month, according to a report. This marks the largest increase in the past two years, based on data from property listing platform Nha Tot, which excludes “sleep boxes” and cage homes.<\/p>\n\n\n\n

As of last month, average rents had reached VND3.8 million, with some properties commanding up to VND6.6 million. <\/p>\n\n\n\n

Price hikes have been observed in most districts, from downtown areas to the suburbs. Despite the steep increases, demand for rooms and apartments in HCMC remains high. <\/p>\n\n\n\n

Inquiries for such accommodations in the third quarter increased by 16% to 60% compared to the previous quarter. The highest demand was recorded in Thu Duc City, home to many universities. <\/p>\n\n\n\n

Another property listing platform, Batdongsan, confirmed this trend, reporting a 38% year-on-year increase in inquiries for rooms in HCMC in October. <\/p>\n\n\n\n

Nguyen Hoang Uyen, CEO of Nha Tot, attributed the price hikes to limited supply. For example, in District 7, demand surged by 59%, but no new supply was recorded. She noted that many students are struggling to find affordable housing near their universities. <\/p>\n\n\n\n

“The price hikes are a major concern for students, especially those coming from other localities,” she said. <\/p>\n\n\n\n

Dinh Minh Tuan, director of Batdongsan’s southern business division, explained that rising property prices in recent years have forced many prospective homebuyers to abandon their plans to purchase homes and opt for renting instead. This shift has increased rental rates for rooms. <\/p>\n\n\n\n

Additionally, authorities have tightened fire safety regulations, requiring landlords to make costly property upgrades. <\/p>\n\n\n\n

The average income of a Vietnamese worker in the first six months was VND7.5 million per month, a 7.4% year-on-year increase, according to the General Statistics Office.<\/p>\n\n\n\n

Stay updated on HCMC’s rental market trends—subscribe for expert insights and advice on navigating rising costs!<\/mark><\/p>\n\n\n\n

\n
read More<\/a><\/div>\n<\/div>\n\n\n\n

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This article is contributed by Dustin Trung Nguyen, Country Head of IQI Vietnam The cost of renting rooms in Ho Chi Minh City has risen by 20% in the first 10 months, reaching a minimum of VND3 million (US$118) per month, according to a report. 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