HANOI: The rental housing market in Hanoi has experienced a notable upward trend, driven by increasing demand and the rising prices of apartments.
According to batdongsan.com.vn, rental prices for fully furnished two-bedroom apartments in the first quarter of 2025 rose by one million dong per month from the end of 2024 to 8.5 million to 10 million dong in HH Linh Dam apartment areas, Hoang Mai District, and nine million to 9.5 million dong in Dinh Cong apartment buildings.
Kim Van-Kim Lu apartments also saw an increase, fetching 8.5 million to nine million dong per month for a unit with two bedrooms and two bathrooms, compared to eight million dong last year.
In the city’s central Ba Dinh District, apartments at Discovery Central have edged up to 18 million to 19 million dong per month for furnished two-bedroom units against the previous rental price of 17.5 million to 18 million dong.
One-bedroom units in the area also saw modest increases, with some now renting for 15 million to 15.5 million dong per month.
The trend continued at Vinhomes Metropolis on Lieu Giai Street and the Matrix One project in Nam Tu Liem District, where rental prices have risen by approximately one million dong since late 2024.
Pham Thi Mien, deputy director of the Vietnam Real Estate Research Institute, said: “Rising rental demand and continuously increasing apartment prices are the primary drivers behind this trend.”
Landlords are compelled to raise rental rates to ensure cash flow and investment returns.
Other cost pressures, such as rising construction materials, maintenance fees, and management charges, are also contributing to higher rents, particularly in high-end complexes with full amenities.
Besides that, the evolving lifestyle preferences of young professionals are also shaping the rental housing market.
Many prioritise flexibility and mobility, opting to rent rather than buy, according to Mien.
“Currently, in the rental housing market, aside from apartments purchased for investment, there is also a significant number of individual houses being rented out for residential purposes,” said Do Thi Thu Hang, senior director of advisory and research at Savills Hanoi.
“Rental houses are evolving to compete with rental apartments.” — Viet Nam News/ANN
