According to Lao Dong reporters, on groups and social networks, there is a series of information about apartment return in Hanoi. Many people who have only rented for a short time have even had to post a transfer window because of the expensive rental price.
Ms. Nguyen Thi Ngoc (36 years old, who rented an apartment on Nguyen Trai Street, Thanh Xuan District) said that the rental price of apartments in the inner city has been continuously increasing, so for the past 4 months, her family has returned to her hometown to work to save costs.
"My family's monthly income is only about 35 million VND, but the rent is about 12 million VND/month, not including electricity, water, and living expenses. In early 2025, my family will return to Nam Dinh to work near home, saving costs" - Ms. Ngoc said.
Similarly, Mr. Trinh Van Nghia (35 years old, renting an apartment in Ha Dong district) informed that in early 2025, many apartment owners here announced an increase in rental prices from 500,000 VND to 1 million VND/month when upgrading and adding new utilities and furniture. Therefore, he is under great pressure as rental prices are taking up nearly half of his monthly salary.
The recent increase in apartment prices has made the dream of buying a house in the inner city of middle-income people like Mr. Nghia increasingly distant. Mr. Nghia plans to save up to return to his hometown to buy land, move his work to his hometown in Thai Binh to stabilize his life.
Similarly, Facebook account Nguyen Huong is also posting an ad for renting a 2-bedroom apartment, 60m2 wide in Nam Tu Liem district (Hanoi) for 15 million VND/month.
However, despite posting a rental ad for a month, this owner has not yet found a tenant, and the apartment is still vacant.
Data from real estate services Savills analyzed that rental prices for serviced apartments in Hanoi continue to increase by 5% year-on-year, reaching an average of VND610,000/m2 (excluding 10% VAT, including 5% service fee).
Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association (Vars) - commented that the price level of apartments is constantly increasing and setting new levels, causing apartment rental prices to also tend to escalate.
According to experts, the city center area is almost devoid of apartments with rental prices under 10 million VND/month. The common rental price for a single-bedroom apartment is 10-15 million VND/month, 2 bedrooms is 15-20 million VND/month. In suburban areas, the average apartment rental price is about 6.5-15 million VND/month, an increase from the common rate of 3-8 million VND/month in less than 5 years.
Mr. Dinh said that the continuous increase in rental prices has made it difficult for many people, especially young people with average and low incomes, to maintain their lives in urban areas when rental costs account for 35-50% of their income.
In addition to other living expenses, young people are almost unable to accumulate, they are no longer able to afford it, forced to narrow living space, seek cheaper options or even leave big cities.
