The Housing Hunt: A Struggle for Hanoi’s Students as Rents Soar and Rooms are Rare

In the Cổ Nhuế area, where many universities are located, the going rate for rental rooms is currently 3-4 million VND per room with an area of 25 sq. m, featuring an enclosed bathroom and cooking facilities, including an induction stove. One landlord, who owns several dozen rooms, mentioned that they were all booked up since the middle of August. “Parents had come to rent or put down deposits for their children’s accommodation well in advance. It will be difficult to find a place at this late stage,” she said.

Mr. Nguyễn Văn Trường offers a mini-apartment building with over 38 rooms, located about 2 kilometers from the Academy of Finance and the University of Natural Resources and Environment. Each room is designed with a spacious 30 sq. m layout, featuring an enclosed bedroom with two bunk beds, a small living room area that doubles as a kitchen, an enclosed bathroom, and amenities such as air conditioning, water heaters, and fire extinguishers.

“This year, I’m renting out the rooms for 4.5 million VND each, accommodating up to four people. This rate is an increase of 300,000-500,000 VND per room compared to last year. The reason for this hike is the surge in property prices in Hanoi. Over a year ago, my family invested in a plot of land and constructed this mini-apartment building for about 15 billion VND. However, to replicate this project now would cost nearly 25 billion VND. Hence, the rent increase is inevitable. My apartment building currently has only a few vacant rooms, which will likely be taken within the next day or two,” Mr. Trường explained.

In addition to his property in Cổ Nhuế, Mr. Trường also owns two other mini-apartment buildings with nearly 80 small apartments in Quan Hoa and Bưởi streets. “The rent in these locations is higher, ranging from 5.5 to 6.5 million VND per room, depending on the area and position. Nonetheless, both of these apartment buildings are fully occupied. As far as I know, most accommodations near universities are fully booked, and there is still a high demand from parents and students,” Mr. Trường added.

A similar situation of scarce rental options is observed along Phạm Văn Đồng Street, close to prominent universities such as Vietnam National University, Hanoi University of Education, Hanoi University of Commerce, and the Hanoi University of Theatre and Cinema.

“At this point, you may find basic accommodations for 3.3 million VND with an area of around 25 sq. m, equipped with air conditioning and water heaters, but you’ll have to share the washing machine with the entire floor and won’t have a private kitchen. The more spacious rooms with elevators and private kitchens are already taken,” shared a landlord in the area.

Đào Thị Thuý Hiền, a student from Ninh Bình, shared her experience: “My mother and I looked for accommodations in the Mễ Trì area. We were offered a room of about 30 sq. m with an enclosed bathroom for 5 million VND, with a maximum of four occupants. In addition to the rent, each person has to pay 100,000 VND for water, 100,000 VND for parking, 50,000 VND for internet, 50,000 VND for garbage collection, 50,000 VND for elevator usage, and 5,000 VND per kilowatt of electricity. So, on top of the 1.3 million VND rent per person, each student like me has to spend an extra 500,000 on other expenses. The landlord is urging us to make a quick decision, or we might lose the room. Even though it’s quite expensive, I’m trying to find enough roommates to share the cost. I’ve been searching for several days now, but it’s been challenging,” she said.

Khâu Hải Nam, a landlord in Hà Đông ward, attributed the high demand for rental properties in the capital city to rapid urbanization and a high population density. He further explained that the start of the academic year puts significant pressure on the supply, driving up prices. “The current rent increase is also influenced by inflationary trends. As the cost of living, essential goods, and services rise, landlords adjust rents to cover their expenses. Moreover, with property prices continuously climbing beyond the reach of most people, many are forced to rent instead of buy. Consequently, rental accommodations are becoming scarcer and more expensive, especially in areas close to the city center,” added Mr. Nam.