Demand for Hanoi rental apartments drops in August

Demand for Hanoi rental apartments drops in August

In August 2019, demand of’s users for most types of real estate for sale and rent increased. Only demand for rental apartments saw a decline after its sharp increase in the previous month.
02:00, 25/09/2019’s market reports of showed in August 2019, the level of user interest in most types of real estate for sale and rent saw an upward trend.

In July 2019, townhouses was the most sought-after properties, but last month, users' interest shifted to apartment segment. In particular, the number of searches for apartments in Hanoi in August increased 14% over July, especially in Cau Giay, Nam Tu Liem and Hai Ba Trung districts. Apartments remained be the housing products that gained users’ attention the most.

In terms of segments, all three afforable, intermediate and high-end segments saw an increase in number of searches with 11%, 19% and 22% respectively. In particular, the search demand mainly focused on the existing mid-end projects such as Kim Van - Kim Lu urban area, Sunshine Garden, Imperia Sky Garden, etc.

Meanwhile, private houses ranked second in the group of properties for sale interested by users in August. Between July and August, the number of searches for private houses in Hanoi rose by 7%. Other types such as residential land, adjacent villas and townhouses also recorded a slight increase in number of searches.

In contrast to apartments for sale, apartments for rent in August saw a drop in searches after increasing sharply by 42% in July. This move also went against most types of other rental properties.

Notably, the level of interest in rental room segment increased sharply in the inner districts including Cau Giay, Dong Da, Thanh Xuan and Hai Ba Trung. The reason behind this upward trend is that there are many large universities in these areas, and August is also the time when many new students from outside Hanoi come to enroll in their universities.

For residential land segment, the level of interest last month recorded stability in most districts. The two districts with the strongest growth in number of searches in August were Bac Tu Liem (up 15%) and Nam Tu Liem (up 10%). The top three districts with the largest number of searches for residential land were Ha Dong, Dong Anh and Long Bien.

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