Hanoi, HCM City among most expensive cities in Asia
Hanoi was placed 13th and Ho Chi Minh City 12th among the most expensive cities in Asia in 2011 in terms of three-room apartment rent, according to an accommodation report from ECA International.
In the world, Hanoi ranked 53rd and HCM City 52nd, the report said.
Tokyo was the most expensive city in Asia, followed by Hong Kong and Singapore.
Three-room apartment rents in Hong Kong doubled those in Singapore. Tenants in Hong Kong had to pay around US$11,831 per month for a similar apartment.
House rents continued rising sharply in China with Shanghai placed 18th and Beijing at 26th in the world’s rankings.
India was also faced with sharply rising rents last year, by 8-10 percent compared to the previous year as recorded in Mumbai and New Delhi.
In the world, three-room apartment rents increased from US$2,750 to US$3,080 per month on average.
- Land rental increases leave businesses in cold sweat
- Half homebuyers are Hanoi non-residents
- Housing prices far above average incomes
- Property firms hire more sales staff
- VinGroup starts $33 million project in Hue
- Law offers real estate breakthrough
- Thousands of real estate firms established, causing concerns
- Hongkong Land, Sumitomo back out of Vietnam ‘golden’ property project
Tags: Vietnam Property market, Vietnam real estate, vietnam real estate market