According to Lao Dong Newspaper, in mid-August, walking around the central streets of the old Hoa Binh City (now Hoa Binh Ward, Phu Tho Province) easily saw dense "Rental House" signs hanging.
On real estate groups and small-scale promotion sites, apartment and townhouse rental lists also appear continuously.
Mr. Huu Tien - a real estate broker in Hoa Binh area - said that the transfer of personnel and change of workplaces after the merger of provinces has led to a wave of residence relocation.
A group of cadres and workers left the old central area of Hoa Binh City, while another group moved there but wanted to rent a short-term house or find a house that suited their budget. This has caused a clear fluctuation in the real estate rental and sale market here.
Among them, the apartment segment, which is considered a stable investment channel, is witnessing a "hot" supply for rent. Many apartments in the Golden Star buildings are being advertised for rent consecutively, with common prices of 3 - 4 million VND/month, lower than before to attract customers.
In old wards such as Phuong Lam, Dong Tien, Quynh Lam..., townhouses with street frontage have also seen more and more signs for rent.
Ms. Do Thi Ha - the owner of a 3-storey house on Cu Chinh Lan Street - shared that after being transferred to another job, she had planned to sell the house. For more than 4 months of selling, although the price has been reduced from 7.8 billion to 7.5 billion VND, it has not found a buyer. Finally, she decided to rent out the whole house.
" opting for long-term lease not only helps to earn more monthly income but also maintains the value of assets. Selling cheap is a pity, but if not, it is a waste," said Ms. Ha.
According to Mr. Tran Duc Huy - real estate expert of Dat Viet Real Estate Company, land prices in the old Hoa Binh City have decreased slightly in some segments, especially street-front houses, but it is unlikely that there will be a series of sharp decreases.
"Currently, many owners choose to rent out, with the purpose of preserving the value of their assets, waiting for a favorable time to sell or adjust prices. For those looking for a place to live, this is an opportunity to own a satisfactory location with a reasonable rental price," said Mr. Huy.
