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[Market News] Rental Property Segment Surges Across the Market
Batdongsan.com.vn reported that rental-property searches in May 2022 rose 14% year on year. Offices and street-front houses led growth, with interest up 122% and 64%, respectively.
In Hanoi in May 2022, searches for street-front houses for lease rose the most, up 97%, followed by offices for lease at 89% year on year. Searches for apartments, lodging, rooms and shops increased 6–15%. However, rental listings declined in most categories, especially apartments, down 35%.
In Ho Chi Minh City, searches for street-front houses rose 67%, while offices for lease climbed 112%. Rental apartments were the only category whose searches fell, down 33%.
Other major markets, including Da Nang, Binh Duong, Dong Nai, Long An, Hai Phong and Khanh Hoa, also recorded a strong recovery in rental-property demand. Hai Phong, Da Nang and Ba Ria–Vung Tau led the northern, central and southern regions. In Hai Phong, searches for street-front houses rose 78% and warehouses and factories 73%; apartments, lodging and private houses increased 47%, 29% and 27%, respectively.
In Da Nang, searches for street-front houses grew fastest, up 30%, while apartments, private houses and offices for lease rose 19%, 15% and 14%. Ba Ria–Vung Tau led the southern recovery: street-front houses rose 58%, private houses 25% and lodging 21%. In Long An, warehouse and factory searches increased 73%.
Rental property was recovering broadly across markets. Segments badly affected by COVID-19 were gradually regaining their footing as the economy recovered.
Source: Son Van — Vietnam News Agency
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ARTEMIS TOWER
Address: No. 3 Le Trong Tan Street, Khuong Mai, Thanh Xuan, Hanoi
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