In recent years, Da Nang has successfully marketed itself an exceptional spot in Vietnam, a symbol of new lifestyles. More and more people wish to settle down there. The Real Estate Danang Rental Market has undergone profound changes in recent years. If you want to learn more about rentals in Danang, this article is the way to go!
General Trend of the Danang Rental Market 2018
In general, rental prices in Danang are getting higher and higher over time. But 2018 has seen more twists and turns than ever in the real estate market in general and the rental market in particular. For example, the rental prices in 2018 are 10%-15% higher than 2016.
So, if you paid $600 to rent a house in 2016, you now need to spend $660-$690 for that same house. Of course, you are may still find a great deal with some good luck or the help of acquaintances, but your chances are not what they used to be.
There are two major reasons for this growth: the rapidly increasing demand for accommodations in Danang and the great potential of the city’s real estate market. A number of factors significantly contribute to these two changes.
Da Nang is developing at lightning speed, offering plenty of amenities and ideal jobs for people from different educational backgrounds, especially freelancers and “white-collar” workers.
In addition, foreigners who love this city and wish to well here long term have a very good career choice – especially teaching languages and related jobs. Moreover, Da Nang is very well-known as a safe place to live with beautiful beaches.
How beautiful Danang is! (Thank Jonathan Sayeb – www.enzocreation.com for your great photo!)
Besides, Danang is one of a few cities in Vietnam that possesses both beautiful mountains and romantic coastlines. Not mention to many large-scale entertainment centers, interesting heritage sites, impressive eco-tourism areas, high-quality international schools, shopping centers, and so on. These outstanding advantages attract tourists to come to Danang to enjoy a good time. Many tourists fall in love with this city, and some of them decide to settle down here.
Normally, the demand of for rental properties on the East Side (My Khe Beach, Pham Van Dong Beach, Bac My An Beach) is higher than demand in the city center. That’s because most expatriates work in the city center but prefer to live near the beaches, especially My Khe beach, Pham Van Dong Beach, My An Beach which are the most beautiful beaches on the planet. The expats’ areas are An Thuong – My Khe Beach, Bac My An Ward, Ngu Hanh Son District.
This is the reason why houses and villas for rent near the beach areas, namely Son Tra and Ngu Hanh Son Districts, are relatively pricey – about 25% higher than comparable rentals in the city center, namely Cam Le District and Hai Chau District. For example, a house for rent situated in the heart of the city usually costs about $600 while the price can go up to $750 for an equivalent rental on the East Side.
Different Types of Rental Property
Each segment of the market varies depending on the features offered. To become a smart tenant, you’ll want more detailed information as follows.
One advantage of leased Houses in Danang is that they are spacious. They often have 3-5 floors, 1-5 bedrooms, 2-4 bathrooms, a living room, a kitchen, and a terrace, as well as a garage on the ground floor for parking car or motorbikes. These houses usually have an area of 100 sqm or more. If you’re looking for a living place with lots of space and more privacy, a house would be a perfect choice.
Most houses for rent are fully furnished or have basic amenities. If you decide to settle down for a long time, you can negotiate with the landlord to equip your house with even more furniture. The price for a fully furnished one-bedroom house varies between $350-$500 per month or about $500-$700 for a two-bedroom house, depending on the location and the interior of the house.
For example, a 2-bedroom house in Nam Viet A Urban Area – Ngu Hanh Son District with the area of 100 sqm offers 1 garden yard, 1 living room, 1 kitchen, 2 bedrooms, 2 bathrooms. Full interior: TV, wardrobe, washing machine, air-con… about $600/month
However, hunting down 1 or 2 bedroom houses to rent can be more difficult than finding 3-4 bedroom houses because smaller houses are in high demand with reasonable pricing and space that is ideal for a single person or a couple.
Prices increase for houses with more bedrooms, about $600 and $900, respectively for a three-bedroom and four-bedroom house. These kinds of house are obviously larger with more rooms, interior and this explains the higher prices.
An example, a 3 bedroom house for rent in My An area, My Khe Beach about 220 sqm living area includes 2 floors, 1 front yard, 1 living room, 1 kitchen, 3 bedrooms, 2 bathrooms, and balconies. Full furniture: TV, sofa, beds, fridge, air-conditioners, … about $650/month.
This three-bedroom house for rent for $650/month
Another thing to keep in mind is that if you rent a house, you will have to pay bills for electricity, water, internet, cable TV, etc.
- The price of fiber optic internet that each household needs to pay each month is about 200,000 VND for a 20Mbps speed package; 250,000 VND for a 30Mpbs speed package; 400,000 VND for a 40Mbps package, etc. For more details, you can refer to the internet price list here.
- The cost of water in Vietnam is not worried because it is often very cheap – only about 6.000 VND/m3. If each person spends 50,000 VND/month on water, a family of 4 members will have to pay 200,000 VND/month for their total water consumption.
- The electricity rate is generally cheaper than that in a rental apartment. You can refer to the price list here: Wholesale Electricity Tariff
Apartments or serviced apartments are generally in multi-story buildings in the rental market although they’re usually not large in size. Also, they are often considered as modern, come fully furnished and are more expensive accommodations than ordinary houses. Luxury apartments in Da Nang for rent such as Azura apartment, Monarchy apartment, HAGL Apartment, Indochina Riverside Apartment, Novotel Apartment, Danang Plaza Apartment, FHome Apartment…
Serviced apartments often provide daily cleaning (or free cleaning service 1-2 times/week) and other amenities (such as swimming pools, urban gardens, gym centers, children play areas, garages, free WiFi, 24/24 security, etc.). An elevator is often available, parking is in the basement. Often shared space on the top floor (called skyline) is where tenants can hold a party or enjoy a spectacular view of the city.
With a full provision of amenities, this segment’s pricing is quite high and varies a lot. It can cost about $300 for studio apartments, $400 for one-bedroom apartments, $550 for two-bedroom apartments, and higher prices for more rooms. For instance, an ordinary studio apartment has an area of about 30 sqm, while a one-bedroom apartment is about 40 sqm or more.
Things get larger when it comes to two-bedroom apartments of about 70 sqm.
The prices will match up with the floor area of the apartment. Of course, pricing also depends on the location, quality, services, facilities, etc.
Apartment tenants often have to pay the electricity bill at an average rate of 3,000 – 3,500 VND/kW/unit (about 13 U.S. cents). In terms of the water bill, it will be free or cost a reasonable amount of about 100.000 VND/month.
Villas constitutes the luxury segment in the rental market. Villas available for rent may consist of 3 to 6 bedrooms, 3 to 6 private toilets, a luxurious living room, a large fully-equipped kitchen, not mention to a spacious yard, garden, garage, swimming pool, kitchen play area and many other high-grade amenities.
A distinguishing feature of rental villas is their design which is typically beautiful. The design concept can be modern, classic, or the blend of these charms. The surrounding area is usually a large garden covered with green grass, as well as plenty of trees and flowers planted and taken care of by the landlord.
Another big difference between villas and houses for rents is that the land area around the villa can be up to 300-5000 sqm with nice, open and spacious gardens.
And, of course, the pricing varies starting at a very high range, about $1000/month for a two-bedroom villa:
Or $1400/month for a three-bedroom or four-bedroom villa for rent.
And this 3 bedroom villa for rent in city center for $1400/month with a large garden. The villa’s total area is 205 sqm. This newly-built villa consists of garden, garage, 3 bedrooms, 3 bathrooms, 1 living room, 1 kitchen, 1 working room and an area for relaxing on the third floor
Villa having a pool and 3-4 bedrooms on the East side like: The Ocean Villas Da Nang, Premier Village Danang Resort, Furama Villas Danang, Montgomerie Links Villas, Pullman Danang Beach Resort, Hyatt Regency Danang Resort …cost about $2,000/month or more.
Finding the ideal accommodation is very important, especially for long-term rental tenants. It is not something you can take care of in a day — you need to go through a thoughtful and thorough process of researching and consideration. And in the very first phase of research, what you need to put pay attention to the realities of the market – in this case, the Da Nang Rental Market 2018.
Being fully information-equipped about this issue will help you avoid fatal mistakes in choosing your rental home. Hopefully, our information will help you make a great choice!