According to the post-Tet market observation, the situation of rental townhouse in Ho Chi Minh City is relatively better in the central outskirts. The places that were returned by the middle of 2023 are now being rented again. The number of available spaces has decreased slightly. However, in central areas such as District 1 and District 3, there are still many vacant spaces. In fact, before Tet, many spaces were returned.
Some spaces on Nguyễn Thị Minh Khai street in District 1 recently put up for rent, which we didn’t see before Tet. Photo: Hạ Vy
Spaces on Hai Bà Trưng street are still vacant despite having been available for rent for a long time. Photo: Hạ Vy
Hundreds of square meters of spaces for rent at District 3, Ho Chi Minh City, with monthly rents of millions of dong still remain vacant. Photo: Hạ Vy
While in the outskirts of Ho Chi Minh City like District 9, the number of vacant spaces has decreased slightly. On Nguyễn Duy Trinh street (formerly District 9, now Thu Duc City, Ho Chi Minh City), there were more than 10 spaces available for rent in mid-2023, but now there are only about 3-4 vacant spaces. Photo: Hạ Vy
However, for commercial townhouses in District 9, there are still many spaces available for rent at the beginning of 2024. Photo: Hạ Vy
In Gò Vấp District, some business spaces have also been filled after a period of vacancy. Photo: Hạ Vy
According to experts, the rental market still faces challenges in terms of tenants in 2024. The trend of shifting spaces from the city center to the central outskirts to reduce costs is the reason why the vacancy rate in the outskirts has decreased, while the central districts still face the issue of tenancy. However, the rental prices in the city center of Ho Chi Minh City have not shown a clear decrease, most are negotiations for deposits or rental terms.
