Discounted townhouse for rent after a sidewalk cleanup campaign

24/04/2017   Viewed: 849
The sidewalk cleaning campaign has led to a reduction in street rents and the downtrend may not be stopped in the near future, according to the Vietnam Association of Real Estate.

The Vietnam Real Estate Association (VNREA) 's first quarter report said that the campaign to restore the pavement order in Hanoi and Ho Chi Minh City has led to a decline in the street - side segment. The price is likely to decrease in the near future when the business households want to pay for a better location.
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Rental prices are downward trend in the last month and may continue to decrease. Internet Photos

At some streets in central Hanoi, many owners have reduced prices for tenants.

"Business shops now have to rent more parking places and at the same time, because we can not make use of the sidewalks as parking spaces, so the number of visitors is decreasing, so I have to reduce the rent. Agreed to reduce the monthly rent of 3-5 million VND but still worry they will ask for further reduction if the business situation is not better, "said Quynh - investor currently owns two street side houses in the center for Or.

Anh Truong - Director of a brokerage specializing in the segment of houses, street houses in the Old Quarter said that, in addition to falling rents, buying transactions in the street segment is also tending to slow down after A campaign to clean the sidewalk.

"The first quarter was the time of poor liquidity, and again the impact of this campaign, so for about two months now our floor has a new street transaction, which is not in the center of the district. Cau Giay and this is also the location with favorable parking points, "Truong said.

In other segments, according to the Vietnam Real Estate Association, the first quarter of 2017 recorded a decline compared to the end of last year and 2016.

The number of successful transactions in all three segments of housing, land and resort real estate in the quarter reached 18,338 transactions. Of which, in HCMC, the middle class apartment occupies the largest share of transactions. In Hanoi, the average occupancy rate is slightly higher than the middle-end, while Da Nang is the most active.

Real estate inventory has slowed down, inventory is mainly land in projects far from the center without infrastructure. There are no latest figures but according to VNREA by the end of February/2017, the total value of real estate inventory to about 29.573 billion.

The unit also said that compared with the same period last year apartment prices have increased by 7-10%. Meanwhile, the land segment in Da Nang and Ho Chi Minh City fluctuate quite strong. There are up to 10-40% more than at the end of 2016, for example in District 2, District 9 and Thu Duc.

In the Danang market, the price of the land along the Han River, coastal Pham Van Dong, My Khe, Hoa Xuan, Hoa Quy, southern Nguyen Tri Phuong, Dao Ba Tung and all the south axis as Ngu district Onion, compared with the end of 2016, prices increased by 30-50%.


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