In Hanoi, from August to September every year, as the new school year approaches, the demand for student accommodation soars. This year, rental prices and associated services have surged…
Rent starting from 3 million VND per room
Over the past few days, Bui Duy Hung (born in 2006, a graduate of Tien Du High School No. 3, Bac Ninh, who recently took the high school graduation exam and is certain to attend university in Hanoi) has been frantically riding his motorbike through the alleys and streets of Hanoi in search of accommodation, but to no avail. From Thanh Xuan and Dong Da to Cau Giay districts, the minimum rent for a room that Hung has come across starts at 3 million VND.
Student accommodation in alley 898, Lang Street (Dong Da, Hanoi)
“Many places advertise room prices on websites and social media starting from 2 to 2.5 million VND, but when I go to see them, the price suddenly increases to 3 to 4 million VND,” said Hung. Landlords give various reasons for the price hike, such as newly replaced furniture, additional fire protection equipment, etc.
“Meanwhile, in many rental houses, the only additions are a few fire extinguishers priced at 200,000 to 500,000 VND each and a fire safety sign. I think this is just an excuse to raise the rent. Even with fire extinguishers, if there is no emergency exit and the alley is not wide enough for fire trucks, tenants still won’t feel secure,” Hung added.
Similarly, Nguyen Bao Ngoc (born in 2006, a graduate of Viet Tri Industrial High School, Phu Tho Province), about to embark on her student life, has been struggling for a week without finding a place to stay. Her most feasible option at the moment is a 35-square-meter room in Cau Giay District, priced at 4.5 million VND per month. Including additional living expenses such as electricity, water, internet, and cleaning, the total cost exceeds 5 million VND per month.
Data from Batdongsan.com.vn shows that rental housing is the only segment with positive growth in the rental market this year. Compared to the end of last year, interest in this segment has increased by 12-15% monthly. The demand for rental housing in Hanoi on the website has increased by about 29% in the past few months.
“With this price, I have to share a room to save money. I’ve just arrived in Hanoi a few days ago and haven’t gotten to know anyone yet. For now, I’ll rent a place by myself, and then I’ll find a roommate later because if I don’t choose carefully, conflicts can easily arise,” Ngoc shared.
Besides new students, those who have been studying and living in Hanoi for many years are also caught in the “rent storm.”
For almost a month now, Tran Duc Anh, a third-year student at Hanoi Law University, has been surviving on instant noodles and cheap meals costing between 20,000 and 30,000 VND per serving.
The rental price of the accommodation where Duc Anh lives in Lang Ha Ward, Dong Da District, has increased from 5 million to 5.5 million VND for a 35-square-meter room. As his roommate recently moved out, Duc Anh has not been able to find a new one yet.
In addition to rent, from the 2022-2023 academic year, tuition fees at his university increased from 464,000 VND per credit to 607,000 VND per credit, and it is unclear whether there will be another increase this year. To cover his expenses, Duc Anh has to work as a ride-hailing driver. He mentioned that he would look for a cheaper and less convenient room further from the campus to ease the financial burden.
Price hikes due to fire safety requirements and rising inflation
Mr. Nguyen Tuan Dung, a landlord in alley 25 Vu Ngoc Phan (Lang Ha, Dong Da, Hanoi), said that recently, rental houses have been subject to frequent inspections following severe fires in Hanoi, and they are required to invest in fire protection systems, leading to rent increases.
“The rent increase is not only due to fire protection equipment but also the location of the rental house. For example, houses located in spacious areas with wide roads accessible to fire trucks will naturally have higher rent than those in narrow alleys where fire trucks cannot enter,” said Mr. Dung.
A landlord in alley 73 Tan Trieu (Trieu Khuc, Thanh Xuan, Hanoi) shared that rent increases are inevitable as rental houses, like other products, need to adjust prices over time.
“Other products may increase their prices at the beginning of the year or at any time during the year. For student accommodation, we usually raise the rent when a new batch of students enroll. The number of students coming to Hanoi is increasing, but the construction of new rental houses and mini-apartments is not keeping up, so rent increases are inevitable.
Moreover, with the rising prices of household goods and even groceries, we also need to cover our living expenses,” the landlord explained.
