High rents make it difficult for many new students to find accommodation.

Difficulty finding a "nice" place to rent

More than a week ago, the family of Nguyen Thao My ( Tien Giang ), a new student of the University of Medicine and Pharmacy in Ho Chi Minh City, had to be present in District 5 to find a place to stay for their daughter. After researching all the channels, from the real estate market, brokers to acquaintances, My's family still could not find a suitable place to stay, meeting the criteria of reasonable rent, close to school, near densely populated areas.

“Because it was my daughter’s first time studying away from home, our family wanted to find a place to stay that was close to school and also had to ensure security. However, finding a place that met the above criteria was very difficult. Some serviced apartments were too expensive for the family’s ability, up to 5-6 million VND/month, and the family felt uneasy about cheaper accommodations,” Thao My’s mother shared.

She also said that high-priced serviced apartments can be shared by two other people. However, because her daughter did not have many friends from the same school, nor any connections to connect her with a roommate, this optimal option was overlooked.

Many new students still have not found a room to rent even though the school year is approaching.

Similarly, Nguyen The Hoang (Dong Nai) - a new student of the University of Economics and Finance in Ho Chi Minh City has also been struggling to find a place to stay near the school for many days now. This young man's need is simply to find a clean place to stay at a price of only about 2.5 million VND/month. Through searching online, this young man has also visited many boarding houses along Dien Bien Phu Street, but has not found any house that meets his criteria and price.

“In this area, there are many dormitory-style rooms with bunk beds with rents of only about 1.7 - 2.3 million VND/month, but each person only gets a sleeping space of about 3-4 square meters. Especially the sleepbox type rooms are very stuffy, but the rent is also close to the level I can afford. Therefore, up to now, I still haven't decided where to stay,” said The Hoang.

The "sleeping box" room type also attracts many new students due to its low price and proximity to school.

Through research at some brokerage units, it is known that in 2023, many boarding houses or apartments for rent in Ho Chi Minh City are still in a situation of "starving customers" and continuously reducing prices. But from the summer of 2024, rental prices are pushed up because the demand for tenants has stabilized again. Especially, after the August period every year, when the number of new students is preparing to enter school, many landlords push up room prices.

Rents are affected by demand

According to data from Batdongsan.com.vn, in July, the interest in rental rooms and houses in Hanoi increased by 10% compared to June. In Ho Chi Minh City, the increase was 22%. The price history tool of this unit also shows that rental prices in some areas tend to increase from the second quarter of 2024.

For example, in the Ho Chi Minh City market, Ward 9 (District 5) is home to many rental rooms due to its proximity to universities. The rental price here is commonly VND 6 million/month in the second quarter of 2024, up to 50% over the same period last year. In Hanoi, Hai Ba Trung district also has schools such as the University of Technology, the University of Construction and the National Economics University, with the common rental price in the second quarter of 2024 being VND 5 million/month, the highest level in the past 4 years.

Rental price history in District 5 - Ho Chi Minh City according to data from Batdongsan.com.vn

According to Batdongsan.com.vn, some landlords in Hanoi said they increased the rent by 10-15% because the real estate purchase price increased, so the rent also needed to increase. Similarly, the rental market in Ho Chi Minh City has also witnessed a trend of increasing rents in recent months, significantly affecting the psychology and behavior of tenants.

In particular, this unit's research also shows that the high rent has changed the rental psychology of this group to balance income and monthly expenses. According to a survey of consumer rental behavior in the last 6 months of 2024, 47% of respondents chose to rent a room with less furniture and 51% chose to rent a smaller room.

Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan.com.vn said that, by location, tenants in Hanoi tend to accept less furniture and tenants in Ho Chi Minh City prefer to rent smaller spaces to cut costs. In addition, some other options are chosen including renting places with fewer amenities and sharing rooms.

However, the upward trend in room rates is expected to continue for at least the next 1-2 months, as the number of students enrolling in Hanoi and Ho Chi Minh City continues to increase. This will also greatly affect the costs and expenses of new students preparing to enroll.

Source: https://www.congluan.vn/gia-thue-tang-cao-gan-ngay-nhap-hoc-khien-nhieu-tan-sinh-vien-vat-va-tim-cho-tro-post309493.html