What Makes An Flat For Lease In Saigon More Expensive?
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As you can see, the lease in HCMC can fluctuate wildly, which seems odd considering you can drive thru from D7 to D1 (7km only) in an hour.
There are some reasons that can increase the lease considerably.
Location: Despite the small size of HCMC, location is everything when choosing a home. Picking the right location can be the difference between a 15-minute and a 1.5 hour commute to work. Although the government’s efforts decentralise the city to the South or The new area Thu Thiem, the vast majority of the action notwithstanding takes place in the city core. As a result, proximity to the city core is the biggest reason influencing rents.
Transport options: Rental prices are very sensitive to proximity to main road, in small alley the lease is always cheaper and more quiet.
Proximity to business or entertainment hubs: While proximity to the city core has a far stronger influence on rents, a location close to business or entertainment hubs within a suburb can also raise your lease a little.
New or old building– flats in old building (older and more local neighbourhoods) tend to command cheaper rents although they are usually located closer to the city core, still and all done have luxury amenities, local noise (karaoke, construction noise) and generally smaller units. New estates (ie. newer neighbourhoods) are more expensive and tend to be in far areas, can have construction going on (watch out for this prior to signing a rent as drilling can go on almost round the clock) and provide many facilities (gym, swimming pool, tennis court, parks…).