Why beautiful, fully-equipped apartments in HCMC aren't selling well

Why are beautiful, fully-equipped apartments in Ho Chi Minh City still vacant?

_Information for Tips for Landlords & Property Owners

"Oh my goodness, my apartment is so beautiful, but no one wants to rent or buy it! Why?" If you're a homeowner saying this, you're not alone. In Ho Chi Minh City, the apartment market has many options, and it's not uncommon for beautiful, fully-equipped apartments to remain vacant. So, what are the reasons? Let's analyze this problem together, in a friendly, relatable way.
  1. Don't Just Look at the Glamorous Exterior!

A beautiful apartment, luxurious furniture, full amenities... these are "necessary" factors, but not enough to attract customers. The Ho Chi Minh City real estate market currently has no shortage of similar options. So what's the "sufficient" factor? Let's explore the deeper reasons why your apartment hasn't found an owner.

2. Main Content:

2.1 Price - The Deciding Factor:

Price too high compared to the market: This is the most common reason. Many homeowners price their apartments based on sentiment or compare them to similar apartments without updating market prices. Remember, price is always the first factor that customers consider.

Rent/sale price not commensurate with value: A beautiful apartment but with an inconvenient location, limited surrounding amenities, or potential problems (noise, poor security...) will find it difficult to convince customers to spend a lot of money.

Lack of flexibility in negotiation: Some homeowners are too rigid in lowering prices or are unwilling to negotiate lease/sale terms. This can cause potential customers to look for other options.

Personal Opinion: I see many homeowners holding onto the initial price, even though they know the market has cooled down. Sometimes, a little concession will help you find a customer faster than leaving the apartment empty forever.

2.2 Location - "Proximity to Market, River, Road":

Inconvenient location: Ho Chi Minh City is a large city, and location plays an important role. If your apartment is in a congested area, far from the center, lacking essential amenities (supermarkets, schools, hospitals...), it will be difficult to attract customers, especially young people and families with young children.

Surrounding amenities do not meet needs: An apartment located in a residential area lacking green space, no playground for children, or lacking services such as a gym, spa... will also be less attractive than other options.

Poor transport connections: Difficult travel to central areas, neighboring districts, or important locations (airports, bus stations...) is also a major disadvantage.

Real Case: I once met a customer looking to rent an apartment in District 2, although they really liked that apartment, they ultimately decided to choose another one near their child's school, even though that apartment was not as beautiful.

2.3 Marketing - "Build it and they will come" is no longer true:

Unprofessional images and videos: In the digital age, images and videos are extremely important marketing tools. If you only take a few pictures with your phone, don't invest in editing, or don't have a video introducing the apartment, it will be difficult to attract customers' attention.

Brief, unattractive descriptions: An advertisement with only a few general lines of description, not highlighting the outstanding advantages of the apartment, or not answering customers' questions, will not be very effective.

Inappropriate advertising channels: Posting on free classifieds sites or relying on word of mouth will not be enough to reach a large number of potential customers.

Homeowner's Opinion (fictional): "I used to think that just posting on Facebook groups would be enough, but no one asked. Then I had to turn to professional brokers, they took beautiful pictures, wrote great articles, posted on many channels, and then there were customers right away."

2.4 Interior and Amenities - "Necessary" but not "Sufficient":

Design style is not suitable for the market: Everyone has their own aesthetic taste, and not everyone likes the design style you choose. An apartment with overly elaborate furniture, gaudy colors, or a too "classic" style may not attract young, modern customers.

Amenities do not meet needs: Some homeowners only equip basic amenities, lacking essential amenities such as washing machines, air conditioners, induction cookers, or lack high-end amenities such as dishwashers, ovens... This may make customers feel uncomfortable or not worth the money they spend.

Poor maintenance and cleaning: An apartment, no matter how beautiful, that is not maintained and cleaned regularly will quickly degrade, causing customer dissatisfaction.

2.5 Psychological Factors - "Better Safe Than Sorry":

Bad feng shui: Many Vietnamese people value feng shui when choosing a home. An apartment with an unfavorable direction, an unreasonable layout, or bad feng shui elements (near cemeteries, hospitals...) will be difficult to attract customers.

Bad history: An apartment that has experienced unfortunate events (accidents, illness, lawsuits...) may also make customers wary.

Difficult owner: Meeting a difficult, picky owner who does not respect the privacy of tenants can also make them "run away".

2.6 Competition - "The Marketplace is a Battlefield":

Too much apartment supply: The Ho Chi Minh City apartment market is very active, with a series of new projects being launched every year. This creates fierce competition and makes renting/selling apartments more difficult.

Similar apartments are priced better: Customers always tend to compare prices and amenities between similar apartments. If your apartment does not have a competitive price advantage or does not have outstanding differences, it will be difficult to attract customers.

Attractive incentives from investors: Investors often launch attractive incentive policies (high discounts, gifts, loan support...) to attract customers. This creates great competitive pressure for individual homeowners.

3. "Know yourself and your enemy, and you will never be defeated":

Research the market thoroughly: Find out the prices, amenities, and location of similar apartments in the area.

Price reasonably: Don't be too greedy, offer a competitive price that matches the real value of the apartment.

Invest in marketing: Take professional photos, videos, write attractive ads, post on many channels.

Upgrade furniture and amenities: Fully equip amenities, choose a design style that suits customers' tastes.

Be flexible in negotiations: Be prepared to lower prices, negotiate lease/sale terms.

Create a good impression with customers: Always be friendly, enthusiastic, and respect the privacy of tenants.

Seek out experts: If you don't have time or experience, turn to reputable real estate brokerage companies for advice and support.

The fact that beautiful, fully-equipped apartments are still vacant in Ho Chi Minh City is a complex problem with many different causes. However, if you take the time to understand, analyze, and apply appropriate solutions, you will surely find a satisfactory customer.

Customer Review : "At first I struggled to rent out my apartment, but after being advised by the people at 456 Vietnam, I changed my approach, and after only a week I had a tenant right away. They are very professional and enthusiastic." - Ms. Lan, homeowner in District 7.

Advice from 456.com.vn - 456 Vietnam:

If you are having difficulty renting/selling your apartment, don't hesitate to contact 456.com.vn - 456 Vietnam. With over 13 years of experience in the real estate industry, we will help you:

1. Consulting: Select an apartment according to needs, budget, location and lifestyle.

2. Support: Legal – bilingual contracts (Vietnamese – English, Korean... if needed).

3. Viewing: Free apartment viewing – handover, even outside office hours.

4. Guidance: Register for temporary residence, procedures for foreigners.

5. Assistance: Contact the management board, register for resident cards, internet, utility services.

6. Support: Tenants during their stay, quickly respond to support requests.

7. Management: Manage apartments for rent for homeowners: inspection, reporting, periodic maintenance.

We specialize in the areas: District 1, 2, 4, 7, Binh Thanh, Thu Duc, Thao Dien, Thu Thiem, Phu My Hung... with outstanding projects such as: Vinhomes Central Park, Vinhomes Golden River, Grand Marina, Sunwal Pearl, Masteri Thao Dien apartments, Lumiere Thao Dien, Estella Height, The Vista, Thao Dien Green, Thao Dien Pearl, The River Thu Thiem, Metropole Thu Thiem, Sala, The Sun Avenu, New City Thu Thiem, Feliz En Vista, Palm Height, Millenium, Goldview, Icon 56, Saigon Royal, Sunrise City, Saigon Pearl, The Manor, City Garden, Pearl Plaza...

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