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Da Nang: Nearly half the price, apartments for rent are still difficult to find customers

The apartment market for rent in Da Nang is still quite bleak, despite a lot of positive information such as the reopening of tourism, the resumption of international flights, and millions of Korean tourists about to flock to Da Nang…

In Da Nang, apartment rental prices before the Covid-19 epidemic were quite expensive. Each apartment in a central or coastal location costs no less than 12 million VND/month. The rental price is expensive because the number of tenants is mainly foreign guests from Korea, Japan…

Da Nang: Nearly half the price, apartments for rent are still difficult to find customers
Apartment for rent is still gloomy before the wave of tourists is about to land. Illustrations

Since the outbreak of the epidemic, the price of apartments for rent has plummeted by 50%, even deeper. Many apartments are considered high-class, but the rental price is only from 5-6 million VND/month.

After 2 years of being affected by the epidemic, Da Nang’s tourism industry has had some positive signs when from the Lunar New Year until now, the number of tourists has started to increase.

In particular, the Government has allowed to fully open tourism from March 15, and in just a few days the first international flights will arrive in Da Nang after a 2-year hiatus. Many people expect that the apartment rental market will be active and prices will increase again.

However, according to the survey of PV Infonet, information “urgent apartment for rent”, “for rent cheap apartments” appeared abundantly, the price did not increase compared to the previous time. Tenants can easily find apartments for rent in many locations in Da Nang.

At F.Home apartment complex on Ly Thuong Kiet street (Hai Chau district, Da Nang), the rental price is 7.5 million VND/month for an apartment of 70m2. The apartment is introduced with 2 bedrooms, a balcony overlooking the sea, cool, fully furnished with high-class furniture. High-class apartment complex with 4-star facilities, swimming pool, gym, restaurant…

Apartment in Monarchy project (An Trung 2 street, Son Tra district) has an area of ​​​​nearly 80m2, 2 bedrooms, fully furnished, move in immediately, price only 8 million VND/month. Tenants can deposit 1 month, pay 3 months/time.

Apartment in Hoang Anh Gia Lai apartment building (Ham Nghi street, Thanh Khe district) with an area of ​​​​more than 90m2, 2 bedrooms, priced from only 5.5-6 million VND/month. With 7 million VND, you can stay in a 3-bedroom apartment, fully equipped, just bring your suitcase and move in.

According to Ms. NT, a house broker for rent, the above price is only 50% of what it was before the Covid-19 epidemic. Apartment prices decreased due to reduced demand for tenants, experts and foreigners have not returned. Currently, the number of vacant apartments with 1-2-3 bedrooms is still quite a lot, forcing apartment owners to reduce prices to target local customers.

Similarly, the coastal apartment of Muong Thanh Son Tra project (Vo Nguyen Giap street), the rent for a 1-bedroom apartment is only from 5.3-6.3 million VND/month; 2 bedroom apartments from 5.5 to 8 million VND/month.

According to Ms. Thanh Nga, an apartment realtor, “The rental market is still quite bleak. Customers are also mixed but not spiked. The market is likely to increase in the near future, but not immediately. Despite the resumption of flights, the important thing is how the number of passengers is coming. Current tenants are local guests, domestic guests, and foreign guests are very rare.”

According to Ms. Nga, during the recent epidemic, many apartments in the city center dropped sharply from 12-14 million VND to about 5-6 million VND, so there are many young couples and fresh graduates looking for rent. .

The apartments in the city center have low rent, only about 6-7 million VND/month, they are almost full. There are many projects, despite the sharp price reduction, still from 9-13 million VND/unit, it will be more difficult to have tenants. In addition, some apartments are facing legal problems, making renting more difficult.

It is expected that when opening tourism, the apartment price will increase, but Ms. Thu Ha (Thanh Khe district, Da Nang) said that her 3-bedroom apartment, more than 100m2 if sold, will lose 400 million VND at this time. .

“I’ve been selling my apartment for half a year and it hasn’t been sold yet because they bid too low. In 2019, I bought 2.7 billion VND but now only 2.3 billion. It’s a pity to sell at a loss now, so we’re still here, waiting to see what happens next,” Ha said.

Also selling apartments in Thanh Khe district to live on the ground floor, Ms. Thanh Mai said, she bought the apartment when the real estate market in Da Nang grew hot. With an apartment of more than 90m2, if you invest in renting, you can get from 12-14 million VND per month. But now the rental price is only half of that.

“Listening to the tourism market showing signs of recovery, I also heard from the broker, but the price is still the same, nothing is positive,” Mai said.

Dieu Thuy

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