Hanoi rental market: Movements after Rang Dong fire

After Rang Dong fire, besides the flow of “refugees” the fire returned to Ha Dinh area to stabilize life, a significant number of people still chose to move out of this area, creating new developments. of the nearby rental market.

The market of houses for rent in Ha Dinh plummeted

As a southwestern district of Hanoi, Thanh Xuan borders many other central districts of the capital such as Dong Da, Nam Tu Liem, Ha Dong … Thanh Xuan is also home to many large universities, several factories, headquarters and many companies. Therefore, the number of people from other provinces came here to rent accommodation.

Although the parameters of air quality and environment around the area outside the Rang Dong warehouse fire were confirmed safe by the Ministry of Natural Resources and Environment, many people living near the fire area still did not choose to return. old place to live. This is a common situation for immigrants who are students, laborers from other provinces renting houses here. Because of the nature of rent, not bound by fixed living space, they choose to change their living environment and this creates remarkable developments in neighboring rental markets.

According to the survey, in this shift, Dong Da has become the destination of the majority of customers wishing to rent an apartment segment, especially mini apartments and dormitories. Meanwhile, Ha Dong and Nam Tu Liem are selected points of the majority of workers and students of universities.

Compared to many districts, Dong Da not only adjoins Thanh Xuan but also has great similarities in transport, social and economic infrastructure, so in the move, families living in areas near the fire choose to rent together. Residence, private house here. However, in a central location, apartments in Dong Da are quite expensive. The mid-end line ranges from VND 10-12 million / unit / month, while the premium line is priced at VND 15 million / unit / month or more. Therefore, old dormitories and mini apartments have become the most sought-after subjects due to the soft rent, popular from VND 5-8 million / month.

The survey showed that, before the fire happened, many mini apartments in Dong Da were located in wards such as Khuong Thuong, Thinh Quang, Trung Liet, Cat Linh … fire occurred a week, the mini apartment projects are in a state of out-of-stock. Brokers do not have enough sources to introduce customers.

Quang Huy, the owner of an apartment building in Dong Da, said that most of the households who rented houses in the past month were near Rang Dong factory or young families who rented mini apartments in that area. At the end of August, Mr. Lam’s mini apartment still had 2 empty apartments, but less than 1 week after the fire broke out, those 2 houses were quickly hired by 2 families with houses in the fire area.

According to brokers specializing in the segment of apartments and private houses in Dong Da, a small number of host houses or mini apartments, on this occasion increased the rent by about 10% compared to the previous.

Meanwhile, the area of ​​Ha Dong and Nam Tu Liem is a destination for workers and students who have rented houses in Ha Dinh area. Ms. My Hanh, the owner of many motel rooms on 19.5 Street (Van Quan, Ha Dong), said that in the past month, quite a lot of students from Thanh Xuan University came to see her room, because the old room was located in areas near Rang Dong factory.

Some other areas of Ha Dong concentrated many inns such as Chien Thang Street, Tran Phu, Thanh Binh Lane … also became much more vibrant in September. The increase in the number of renters not only comes from newly enrolled students, but also from students and workers who have rented accommodation in the Ha Dinh area. Similarly, in Me Tri, Nhan My, Tan My and Phu Do (Nam Tu Liem) areas, many students and workers learned and worked in Thanh Xuan. home. The room segment in Nam Tu Liem is the most rented student with asking price ranging from 1.5-2.5 million / month. Meanwhile, workers interested in rooms are priced from 800 thousand to 1.5 million / month.

According to the survey, while the accommodation rental market in Ha Dinh area plummeted in terms of price and number of visitors, Ha Dong and Nam Tu Liem, despite strong demand in September, but due to supply in these areas. quite abundant, so the market did not record the increase in rent.