According to Lao Dong reporters, many apartment blocks in central districts of Hanoi such as Thanh Xuan, Hoang Mai, Nam Tu Liem, Tay Ho... have been continuously hanging signs for rent day and night.
Mr. Hoang Minh Quan (living in Tay Ho district, Hanoi) said that due to having idle money, he decided to invest in the apartment podium segment, with the expectation of quickly recovering capital from monthly rental.
Mr. Quan added that a few years ago, he bought a 55m2 apartment block for 8.6 billion VND in Nam Tu Liem district, with the expectation that he would initially rent it out to recover capital.
"For nearly a year, despite continuously hanging signs inviting rent at 25 million VND/month, the apartment block here only has customers asking for the price, no customers have signed long-term leases yet," said Mr. Quan.
Similarly, Ms. Nguyen Ngoc Hoa (living in Thanh Xuan district, Hanoi) is also worried because the apartment block with an area of 62 square meters, reduced in price from 28 million VND to 26 million VND/month in Hoang Mai district, is still difficult to find tenants.
According to Ms. Hoa, in 2022, when she invested in this segment, many customers asked for prices and even competed to rent long-term. But from the beginning of 2024 until now, the premises have been continuously vacant, causing her family to lose hundreds of millions of dong.
Mr. Nguyen Hung (real estate broker in Hoang Mai district) informed that the current segment of apartment podiums is quite picky about tenants because it is quite expensive. While people's purchasing trends are gradually changing, making tenants less interested, owners are struggling to find tenants.
Referring to this content, Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented that the ground floor of an apartment building only has real potential when it achieves factors such as the project being able to fill up quickly, having really good utility services, having a large enough internal residential community and having smooth connections, attracting the community of residents outside the project.
To solve the problem of vacant space, investors need to have a systematic tenant portfolio strategy, ensuring a balance between consumer shopping and entertainment groups, meeting market needs to attract tenants.
Many real estate experts believe that it is obvious that commercial and apartment blocks are vacant at this time because all expenses and costs are increasing, making it difficult for business and service operators; forcing them to return many premises and business locations if they do not bring long-term profits.
