Ho Chi Minh City serviced apartments unrented
Occupancy rates for serviced small apartments for rent in HCMC stand at 90-95%, larger ones of 90-110 sqm have been left vacant. Owner of apartment project said occupancy for small apartments had been at 90% since the fourth quarter last year. But he added that while 100% of his one-bedroom apartments were occupied, most of his two- or three-bedroom apartments were vacant. He noted that his smaller apartments often supplied "better living space and more utilities" than larger ones. If keep the big apartments, I will face the risk of making losses in the low season," he said. "So, the best thing to do is to increase the number of small apartments." The owner of a serviced apartment project on Cuu Long Street, Tan Binh District, said apartment occupancy rates were 90-95%, while occupancy rates for small apartments were only 80%. Savills’ latest serviced apartment report said that in HCMC, one- and two-bedroom apartments are popular due to their moderate rents. Th...