Vietnam Apartment

Apartment rentals continued competitive market.

In the past , before the change of market trends shifting positions , changing the scale of operation of the unit , enterprise rental property ... divert market share of serviced apartments as well inevitably affected .

However, compared with other segments of the real estate market ( real estate) , the liquidity of serviced apartments is quite stable .

Many factors impact

According to statistics , Vietnam has about 6,000 apartment rentals , concentrated mainly in Hanoi ( 3,000 units) and Ho Chi Minh City ( 2,800 units) . The serviced apartments are in two forms management is self- management or through international units . This is the delimitation factor the difference of scale , quality and capacity of the service apartments for rent . According to CB Richard Ellis Vietnam ( CBRE ) , the usual project management units abroad - Grade A large-scale , higher prices . Customers can use many convenient services , the frequency and quality of service higher . Power operations on 80 % . Meanwhile , the self- management projects are often small -scale , low occupancy rates over 30 % .

Many apartments in Van Quan Urban Area ( Ha Dong ) rents quite fit with incomes of those in need . Photo: Duc Giang

Currently , the serviced apartment market is under pressure from changing position , working downsizing of companies and enterprises by economic difficulties . Especially striking is the trend in 2013, the company shifted westward City office because this area has many new projects entering the market , low rents . This shift makes the staff , professionals , foreigners displaced for easy commute . Therefore, rental housing is west of customer interest . This also makes the area , serviced apartment buildings in many areas of traditional forced to change business strategy , hire discounts , promotions to increase customer retention

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according to the real estate consulting firm , in 2013 notably the transfer of energy by a number of hotels , apartments for sale to rental apartments , making the market of serviced apartments which are not included new projects are fiercely competitive . Prices of apartments for sale for rent transfer usually much lower , should attract the attention of customers despite the professional and the service is not in the true sense of serviced apartments .

Therefore, the perception of the situation , many real estate experts assess , Serviced apartment market has been and will continue to be market competitive . However, the investors have to share that this segment has many opportunities to grow , it is possible advantage to step into the business . Some are seen here as the optimal scheme to offset revenue when the project is empty apartments unsold .

Tenants are decisive factors

Although management of any kind , or what is affected by the market experts and investors are assessed , most importantly , at the same time as promoting factors of this kind of service apartments lies in customers. According to Troy Griffiths - Deputy Managing Director of Savills Vietnam : " Rents are now consistent with the ability of consumer customers . However , overseas projects , international management unit has always been highly higher price . Previously, there had been cases of project service quality decreases, causing nuisance to customers switching to local managers . "

In fact , foreigners seeking to rent apartments in services are often exposed to the international management company . Because in addition to quality and service are guaranteed over , the transaction was easy , quick procedure than rent . That is why this is always inclined advantage of international management units . This also led investors to consider when choosing management units , management units and domestic customers also want to organize more professional management , improve the quality of utility services .

7 % profit from buying apartments for rent again

Rather than buy an apartment waiting for the opportunity to resell for profit as before , recently many investors have turned to buying apartments for rent again . Market Research Report on the Company's quarterly IV/2013 Market Research and Consulting CBRE Vietnam showed that the amount of inquiries received by CBRE constantly increasing in recent years . The budget request at under $ 2,000 / month , which is consistent with the type of flat - to - buy -for- rent - back , more than half of the total number of requests received rent this company in 2013 . NCDT had discussions with Ms. Duong Thuy Dung , Deputy Director of Market Research and Consulting , CBRE Vietnam , about investment opportunities in this field .

She said how about buying trends apartments - for - rent - to - back ?

In fact, this trend is not new . When the company began to Phu My Hung in District 7 project , they immediately set the buy -to-let market again . The investor of Phu My Hung Taiwanese companies and their customers identify first as well as foreign visitors as Taiwan , South Korea and Japan . Since 2007 - 2008 in the apartment project in Phu My Hung , customers buy primarily for sublease . In recent times , this can expand to more areas such as Binh Thanh District , District 2 . The reason is that many projects have been put into operation with facilities , utilities , no less than the full service apartment project . Meanwhile , recently serviced apartment supply does not increase much . This makes buying apartments for rent becomes expensive hotels .

As long as I serviced apartments tend to slow down as there is currently buying apartments for rent will also continue to grow.
Dau tu has reported that Mapletree Group from Singapore has started the construction of SC VivoCity, a shopping mall, in the Saigon South Palace complex in district 7 of HCM City. Mapletree has committed to inject one billion dollars in Vietnam, while it is considering setting up an investment fund, in charge of raising funds for the property projects in Vietnam.

SP Setia Bhd Group from Malaysia is now developing two projects in the southern province of Binh Duong, while considering the opportunities to develop projects in the two biggest cities of Hanoi and HCM City.

Dau tu has quoted Tran Nhu Trung, Deputy Director of Savills Hanoi as saying that a lot of foreign investors from Japan, South Korea, Singapore and Malaysia have contacted Savills to ask information about the business opportunities in Vietnam.

Tran Tan Thien, Chair of Song Phat Company which is the consultant in many investment projects has also noted that Asian investors, especially Japanese ones, are eyeing the Vietnamese market.

Thien said Asian investors are interested in the Vietnamese real estate market because