The demand for Hanoi and Saigon rentals in search statistics
Preference for Hanoi and Saigon rentals market has shared a fair similarity over the past year. In Hanoi market, demand for apartments accounts for the highest proportion among all types of rental, and in Saigon rentals market, apartment demand has increased swiftly to lead the real estate market. Search volume for these two segments generally soared after Tet holiday.
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Hanoi rentals: Apartments lead the search
The number of tenants looking for apartments in Hanoi accounted for 41% of the total number of searches for real estate for rent, followed by bedsit & boarding house (23%) and private houses (15%). Apparently searches for apartments is nearly double that of other two segments.
As for price range, apartments ranging from 3 to 4 million VND/month attracted most tenants. Bedsit and boarding house are mainly in the range of 2-3 million VND, while private houses had the most preferred price of 4-5 million/month.
The above figures partly showed the growth in demand for apartments in Hanoi as well as the financial capacity of tenants. This indirectly stimulates the development of supply of houses/apartments for rent in Hanoi real estate market.
Saigon rentals: Demands for regular apartment have surged
Corresponding to Hanoi, apartments, bedsits and private houses in Saigon are 3 segments with the highest number of searches. In particular, the segment of apartments occupies a considerable proportion of 30%, followed by bedsits (27%) and private houses (19%).
According to statistics, the districts with a major increase in Saigon rentals search are District 1, District 12, District 9, Binh Thanh, Tan Binh, Thu Duc and Go Vap.
In fact, Saigon has nearly 13 million citizens, of which approximately 3 million are migrants. The average population growth rate is 3.5%/year, and the annual population of the city grows by more than 200,000 people, mainly from the rise of migrants.
Those mainly are blue-collar workers and students with low to medium income, explaining the preference of regular apartment renting. This can be considered to be a positive sign for Saigon rentals market.