Accommodation - Getting Settled

Billy,

The Vietnamese real estate market is crashing and burning, especially in the service apartment sector.  All you have to do is look at the occupancy rate in your area of interest.  Then, bargain, and bargain some more, accordingly.

b_grantley wrote:

The agent is asking for $700 USD plus electricity per month.

My instincts tell me that's high.  I just read a newspaper article recently about the over-supply of housing and the lack of demand...and how foreigners are a diamond sought after by many landlords due to the stability of their income.

Considering that $700 USD translates to roughly 14 trillion VND (just a rule of thumb $1 = 20,000 VND for quick calculations).  Anything over 8 trillion is considered a "high earner" and have to file taxes.  The median income for a Vietnamese is about 4 trillion a month.

So who can afford an apartment for 14 trillion?  Foreigners and CEOs of corporations.  I'm pretty sure the local rich already have real-estate so your high-end apartments are going to be marketed towards foreigners.

You my friend, are in high demand.

You might want to check Craigslists for some comparables but something tells me around $500/month is more reasonable for an apartment; you might even be able to rent a house.

b_grantley wrote:

Hello Ho Chi Minh City / Saigon people (still not sure exactly which name to call it yet.)

Sài Gòn is the old name.  Thành phố Hồ Chí Minh / Ho Chi Minh City is what it's officially called today.  People interchange them but probably out of laziness, they call it Saigon because it's pronounced with 2 syllables while HCMC is pronounced with 4.  Kind of like "D.C." instead of Washington DC, or "LA" instead of Los Angeles. 

Southerner Vietnamese like to call it by it's old name because it was the capital of the old republic while Northerner Vietnamese call it with the new official name since it's named after the the first president of the new republic.

Like you, so many expatriates thinks that Q.2 is too cheap to live!
Agents and landlords exploit these 'weaknesses' and ask high price as rent plus 1-3 months rent in advance as a security!
With $500 you can find out apartment in Q.1
If your working place is near it's okay to rent there. Otherwise move to some cheap and good location. If we are confident, we can live anywhere. Expats with family prefer Q.7 and Q.2 as they can send their children to nearby schools. If you do not have these 'ties' better find some other place with reasonable rent. If you still want to stick there just try to bargain strongly or pay what they ask, like any other 'luxurious' expats!

With $700 per month. Why don't you think about hotels or motels in there?

Yup, 700 is quite a bit, but then again, district 2 in general is quite expensive I think something between 550-600 is more reasonable.

Hi all. Thanks very much for your help and advice. For anyone else researching the landlord stopped negotiating after a day at $680. We originally started at $800. We managed to get them to include a new flat screen TV, replace some of the bathroom fittings and replace the single bed in the spare room with a double.

6 month contract. 10.000.000 dong deposit and pay 1 month in advance.

Includes cable TV, WIFI, cleaning 3 times a week .

Now time to get a bike license...

Haha, nice.... Have fun!

charmavietnam wrote:

Like you, so many expatriates thinks that Q.2 is too cheap to live!
Agents and landlords exploit these 'weaknesses' and ask high price as rent plus 1-3 months rent in advance as a security!
With $500 you can find out apartment in Q.1
If your working place is near it's okay to rent there. Otherwise move to some cheap and good location. If we are confident, we can live anywhere. Expats with family prefer Q.7 and Q.2 as they can send their children to nearby schools. If you do not have these 'ties' better find some other place with reasonable rent. If you still want to stick there just try to bargain strongly or pay what they ask, like any other 'luxurious' expats!

You clearly don't understand why expats live there, and i am not sure you ever will..

Northcove wrote:

You clearly don't understand why expats live there, and i am not sure you ever will..

I hope you just started this year!
Wait some more time
Now that area - Thao Dien and An Phu are the main target of robbers and snatchers! So many of my acquaintances already moved from there( due to safety reasons and high rent). You should learn more about Saigon!

charmavietnam wrote:

Northcove wrote:

You clearly don't understand why expats live there, and i am not sure you ever will..

I hope you just started this year!
Wait some more time
Now that area - Thao Dien and An Phu are the main target of robbers and snatchers! So many of my acquaintances already moved from there( due to safety reasons and high rent). You should learn more about Saigon!

Dear Charmavietnam, I  truly appreciate your way of branding this area, I would love to keep it for myself. I am simply just trying to explain that some expats appreciate the less traffic, "cleaner air", western neighbors, International Schools, Western food, English speaking restaurants/bars, grass/trees, the metro, or ride a normal bike.

They are very friendly at the police-station and you don't have to show any papers if you just "look like and expat". Did i mention the international doctors, vets, childcare with European staff?

I fully understand if you cant afford this, or maybe just find these things to be without value - but some do, and we stay here. I assume you are from India, which could explain our different values.

For me Thao Dien and An Phu has no soul, a good reason not to live there. My choice, my opinion.

Northcove wrote:

I assume you are from India, which could explain our different values.

You don't need to show your values by quoting these 'valuables' there. Some of my acquaintances there living which including Indian nationals. I am not living there now but I know each and every corner of that area, may be more than you. Of course I never pay what landlords ask, like you. If it's not 'affordable', that you guys make it. That's not a dream land as you may think

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