is price of rent different between local and foreigner?

Andy,

What the hell is a "lent"?  Shouldn't that be rent? 

But, if it is rent that you are referring to...  Yes, at most places, the rate for a foreigner is slightly higher than that of a Vietnamese.  And the reason is, adminstratively, the owner will have to do more when he or she rents a place out to a foreigner. 

I hope that helps.
Howie

oh god, lent, rent what a stupid

will adjust it,

Thanks

Market pressures, i.e. Foreigners have more money, change prices a but - lots more in Phu My Hung!

Also LL renting to Foreigners have to fill in a form that 'proves' the rent they are charging is high enough. This is filed with the People Committee.

At one time the government stipulated price differences ut I am not sure if that is still in effect.

REMEMBER: Most apartment rentals do not include utilities. Also most LL require a two month security deposit. (NO interest!)

LL (landlords) are NOT, BY LAW, allowe to sell you metered electricity (charged by amount you use) - ONLY EVN can sell you metered electricity.

The point is, in every district they have different rules to work on provisional staying allowance paper. Trust me in some area it gets extremely difficult to the house owners to make this paper for foreigners, most of the time the owners have to pay the police some stupid fee for making this part smoothier. How lame, but its somehow a reason why foreigners usually have to pay rent not as cheap as a vietnamese. Hope this helps.
Peace!

The higher price is roughly calculated with a higher standard than wooden shed, foreigner allowance and demand and then multiplied with a random number and the highest number, a friend or neighbour could/liked to obtain once.


Very few properties, I have seen, do reflect a normal rental price (1:30, about western world standard). Here in Vietnam it is quite commonly 1:7, if you are lucky, 1:9.

*  1:7 = If you rent 7 years, you pay the full property price, within 7 years

l3ully wrote:

Very few properties, I have seen, do reflect a normal rental price (1:30, about western world standard). Here in Vietnam it is quite commonly 1:7, if you are lucky, 1:9.

*  1:7 = If you rent 7 years, you pay the full property price, within 7 years

Interesting ROIs.

The residential condo I rent in Quan 7, for use as an office, (2 bedrooms, 2 bath, sitting/dining room and kitchen) sold foe USD$70,000 and the rent alone is USD$400/month. Everything else extra.

l3ully wrote:

Very few properties, I have seen, do reflect a normal rental price (1:30, about western world standard). Here in Vietnam it is quite commonly 1:7, if you are lucky, 1:9.

*  1:7 = If you rent 7 years, you pay the full property price, within 7 years

could you please suggest me any area/Bundesländer of Germany/ in the western world which offers this rental price - sales rate?! In west germany the cheapest accommodation you could obtain is students' dorm rooms, 250€/month/12qm room, and I don't think anybody would buy this room for 90.000 Euro.

I would agree with you about the [crazy real-estate-price/ autos/ western world's-living-standards - formal average income rate].

In the Northeast, the U.S. Census Bureau's 2010 report on U.S. poverty and income notes that the average annual salary is $53.073. Meanwhile, the Midwest rang in at $48.877, the South at $45.615 and the West at $53.8333. The cheapest Lamborghini 2012 is Gallardo LP550-2 Valentino Balboni, only costs around 200.000 USD in the US.

Formal annual salary in Vietnam in 2011 is 1.300 USD. To buy a Valentino Balboni a Vietnamese must throw 500.000 USD away, with 200.000 he must be satisfied with a Mercedes S3000 then.

Back to the topic, everything has its price. The forum members above said it all, you'll have to pay slightly more expensive so that the landlords could finish the paperwork for you smoothier. In my experience, majority of Vietnamese (non political or business ones) is very pleasant, enthusiastic, respectful and honest, you could trust them.

rojamin wrote:

l3ully wrote:

Very few properties, I have seen, do reflect a normal rental price (1:30, about western world standard). Here in Vietnam it is quite commonly 1:7, if you are lucky, 1:9.

*  1:7 = If you rent 7 years, you pay the full property price, within 7 years

could you please suggest me any area/Bundesländer of Germany/ in the western world which offers this rental price - sales rate?! In west germany the cheapest accommodation you could obtain is students' dorm rooms, 250€/month/12qm room, and I don't think anybody would buy this room for 90.000 Euro.

Ask that the landlord, who did it rent to you. I personally do not consider 12 sqm rentable, neither I find 250Euro for 12 sqm a "normal rental price".

l3ully wrote:

Ask that the landlord, who did it rent to you. I personally do not consider 12 sqm rentable, neither I find 250Euro for 12 sqm a "normal rental price".

single domitory rooms in west germany are 12qm big.
you could also get a 16qm room or an appartment. But I said the cheapest room you could hire.

Studentenwerk Frankfurt am Main
Ludwig-Landmann-Straße 343,
60487 Frankfurt am MAin
a year ago raised monthy rental price for single room to 200 Euro/month.

Friedrich-Dessauer-Haus
Friedrich-Wilhelm-von-Steuben-Straße 90
60488 Frankfurt am Main
Phone: + 49 69 78988290.
rental price is about 250 euro/ single room

Rooms in Campus Westend in the new buildings are even more expensive

feel free to check it out, bros

Yes, I also can the Hilton or other overpriced places.



Studentenwerk Frankfurt am Main
Ludwig-Landmann-Straße 343, 60487 Frankfurt
a year ago raised monthy rental price for single room to 200 Euro/month.

Friedrich-Dessauer-Haus
Friedrich-Wilhelm-von-Steuben-Straße 90 60488 Frankfurt am Main
Phone: + 49 69 78988290.
rental price is about 250 euro/ single room


This surely did cover possible some or more side costs, like heating, power, furniture, garden/park.

A student accommodation is still not within the classification of "normal".

in deed, students' accommodation is the cheapest place for students to hire monthly. Please show me any sites/ accommodation for rent in west germany that costs under 250 Euro/month (and suits the 1:30 rate)!?

Jaitch wrote he hires a place (value = 70.000 $) for 400 $, so does it fall to the catergory 1:7 or 1:9 ? I don't know, I'm bad at math, vietnamese-wise!

rojamin wrote:

I would agree with you about the [crazy real-estate-price/ autos/ western world's-living-standards - formal average income rate].

In the Northeast, the U.S. Census Bureau's 2010 report on U.S. poverty and income notes that the average annual salary is $53.073. Meanwhile, the Midwest rang in at $48.877, the South at $45.615 and the West at $53.8333. The cheapest Lamborghini 2012 is Gallardo LP550-2 Valentino Balboni, only costs around 200.000 USD in the US.

Formal annual salary in Vietnam in 2011 is 1.300 USD. To buy a Valentino Balboni a Vietnamese must throw 500.000 USD away, with 200.000 he must be satisfied with a Mercedes S3000 then.

Back to the topic, everything has its price. The forum members above said it all, you'll have to pay slightly more expensive so that the landlords could finish the paperwork for you smoothier. In my experience, majority of Vietnamese (non political or business ones) is very pleasant, enthusiastic, respectful and honest, you could trust them.

Well seems like some hate going on here, anyway.

Rojamin, You just choose wrong example dear, Nobody will consider and buy 'super-car' with their average income, even though that 'super-car' is the cheapest among that kind.
And most product cheaper in US than any other country, since US is the consuming capital. Just bear with it.
And most person in other country (excluding Vietnam) earning less than average income. Even though it say 'average' it actually shows top 25% or even upper of their salary.

rojamin wrote:

in deed, students' accommodation is the cheapest place for students to hire monthly. Please show me any sites/ accommodation for rent in west germany that costs under 250 Euro/month (and suits the 1:30 rate)!?

Jaitch wrote he hires a place (value = 70.000 $) for 400 $, so does it fall to the catergory 1:7 or 1:9 ? I don't know, I'm bad at math, vietnamese-wise!

By Vietnamese standards still quite reasonable with a 1:14,5. It still depends if you get that out, what you are paying for.
I bet, someone is already attempting to increase the rent a bit.

Housing markets, the world over, are distorted by government policy - even in VN.

Currently, the market rate for 300 SQUARE FOOT apartments is #2,000 (source: Salon and Forbes), in NYC. Other, much larger apartments in NYC are going for far less due to grand-fathered rates.

IN TP HCM the city is buying up privately developed highrises and using them as subsidised housing to relieve the pressure on poor housing stock.

There again, I know of proposed condominiums in quan 7 where the devlopers have ceased construction because of market / financial conditions and are offering the incomplete units for sale as is. Fixer-upper deals.

Many apartments were purchased by VNese as rental investments a few years ago when the economy was good, now the owners are looking to dump them. Many of the investors are young single people who thought they could get a head start with minimal investment.

Renting to the Foreign community can be very risky as their foreign-owned employers think nothing of writing off VND2-5,000,000 security deposits if they decide to move them out of VN.

Just read all the 'Neighbours' Google groups to see just how many families are having moving out sales, even families who had planned to be here long-term and had set up profitable private businesses.

These sudden moves leave owners desperate for income to carry the mortgage who end up offering their apartments for mortgage costs +++. It's not too bad for at least they are getting a condo at no cost.

So much is at play in any housing market and so many things can distort the prices.

Hello all.

Some off-topic posts have been moved.

Can you please stop personal attacks and stick to the initial topic which is about Price of rent differences between local and foreigner?

Thank you,
Aurélie