Invest in an apartment in Hanoi right now might be a wise decision 

With softer purchase prices and rent demand skyrocketing, now is the best time to invest in an apartment in Hanoi. 

The appeal of units as investment property extends beyond the present circumstances. A developer based in Hanoi, an increasing number of Hanoians are opting to reside in apartments, which account for 47% of all dwelling commencements from 2013 to 2018.

The rising popularity of apartments can be attributed to various factors, not solely to their affordability.

People want the convenience of proximity to amenities like cafes, shops, restaurants, and transport links. 

Apartment living has become increasingly prevalent and desirable, especially among empty-nester downsizers who appreciate the practical and lifestyle benefits it provides and the capital gains they have made.

Strong rental yields

Due to crisis rental market conditions for renters, landlords are experiencing an increase in demand and competition, making it more straightforward to find tenants.

The rental markets in Hanoi are incredibly tight at present. The national rental vacancy rate is currently just 1.5%, less than half of what it was before the pandemic. It has resulted in a rapid growth in rents.

These circumstances may be appealing to confident investors. A low vacancy rate implies a low risk of the property remaining unoccupied, while robust rent growth is aiding in rebuilding gross rental yields.

Additionally, the reopening of the international border post-Covid and the return of international students is expected to result in an influx of renters, many of whom are eager to settle in low-maintenance apartments in inner-city areas.

"Renters are especially fond of apartments," according to insiders.

A financially viable choice - An apartment

Apartment prices fell by 1.9% in February, implying a potential opportunity for investors to obtain a good deal.

Another significant consideration that is a driver for investors to take advantage of is the escalating costs of overheads that developers are encountering.