Vietnam potential for serviced apartments for foreigners
The number of foreign expats from multinational corporations coming to Vietnam has increased since 2017.
Demand for serviced apartments for foreigners living in Vietnam is on the rise thanks to utilities that they bring about amid high prices of hotel segment. 
A serviced apartment. Photo: Internet
|
This kind of accommodation is safe, spacious, comfortable, private, and luxurious enough for those who come for both short and long stay, according Do Thu Hang, associate director of Advisory Services at Savills Vietnam.
Accordingly, the occupancy of the serviced apartments hits 80%-85% and even over 90% recently, showing signs of good movements for the coming years.
The number of foreign expats from multinational corporations coming to Vietnam has increased since 2017 and the figure is predicted to continue rising through 2020, mostly in the second half of each year. This factor is expected to drive up the demand for serviced apartments.
Savills Vietnam emphasized the convenience which serviced apartments offer, namely swimming pools, modern gymnastics, library, vehicles, cleaning and maintenance services. Above all, security has caught tenants’ attention, the real estate consulting company noted.
Statistics by Savills Vietnam showed that expats prefer serviced apartments to hotel rooms thanks to outstanding utilities with reasonable prices (compared to hotel segment). Each apartment is priced at US$900-US$5,000/month.
16:20, 2024/11/20
Hanoi to add nearly 6,000 social housing units by 2025
The construction of social housing in the capital has reached only 9% of the target set in the plan to build one million social housing units by 2025.
16:35, 2024/10/22
New international brands diversify Hanoi hotel offerings
Hanoi's hotel market is also experiencing a decline in rental rates amid the seasonal lull in tourism and leisure activities.
20:57, 2024/10/21
Hanoi set to deliver new luxury apartments this quarter
Over 19,000 new apartments were delivered in the first nine months of this year, surpassing the total supply in 2023.
20:10, 2024/09/25
Hanoi's real estate market soars: Apartment transactions up 101%
The mid-range segment in Hanoi will continue to play a significant role in supply.
18:57, 2024/08/24
Hanoi to add 8,300 apartments to social housing reserves by 2029
Along with relieving housing pressure in central urban areas, the new social housing projects will also help to expand residential zones beyond the city's borders.
16:10, 2024/08/05
Hanoi real estate market: Developing in right direction
The price increase for apartments in Hanoi in the first half of 2024 compared to the beginning of 2023 is 31%.