A Guide To Renting An Apartment In Ha Noi

High demand for residential leasing recorded

According to Savills Market Report Q4/2023, Ha Noi was a leading FDI destination in 2023. FDI in Ha Noi was the highest in three years at US$2.9 billion, increasing by 70% year-on-year (YoY). Capital contribution and share purchase increased by 248% YoY to US$2.1 billion. Newly registered capital increased by 89% YoY to US$441 million and new projects increased by 12% YoY to 408 projects. Ha Noi is home to industrial zones and clusters such as Hoa Lac Hi-tech Park. Soon, the city will focus on developing electricity, telecommunications and information infrastructure to attract foreign investors. 

In 2023, the Ha Noi Department of Labour, War Invalids, and Social Affairs approved 11,195 work permits for foreign workers. Of these, 4,200 were at a management level, 190 were at the CEO level, over 8,000 were in expert roles, and 1,561 were in technical fields.  

Tips for foreign tenants to find suitable houses for lease in Ha Noi 

Finding a suitable apartment in a large city like Ha Noi can be challenging for foreign experts. At Savills, we provide tenants with personalised and professional guidance throughout the rental process, from identifying rental needs and sourcing properties to managing contracts and representing our tenants in negotiations. 

STEP 1: Determine residential needs 

Tenants must identify what they want in a property to narrow down the options. Factors to consider include location, service quality, and finances. 

Location 

Proximity to transport links, services, and entertainment is important. Proximity to supermarkets, schools, hospitals, entertainment areas, and developed transportation infrastructure makes life more comfortable. 

In Ha Noi, some districts are particularly popular with foreigners, with a concentration of office areas, retail stores, and entertainment options, including Tay Ho, Ba Dinh, and Hoan Kiem. 

• Tay Ho District: Tay Ho District has become a magnet for foreign residents, particularly Western expats. This area has the advantage of location, and convenient transportation to central areas. Tay Ho is home to high-end apartment projects with proximity to restaurants, medical facilities, international schools, and supermarkets. High-end properties include Somerset West Point, Fraser Suites, and Lang Doan Ket, the newest with 44 serviced villas for rent. 
• Hoan Kiem District is the traditional CBD with a concentration of administrative agencies, office buildings, embassies, and dining, entertainment, and recreational services. It has a diverse international community, with residents hailing from China, Korea, Japan, Singapore, Italy, France, Taiwan, and Hong Kong. Popular properties include Somerset Grand Hanoi, Pacific Place, and 44 Hang Chuoi. 

• Ba Dinh District: Ba Dinh District is the political centre of Ha Noi, housing prominent government agencies like the Government Office. It has also become the city’s core area, boasting new and modern Grade A office buildings. This strategic location, coupled with a diverse selection of fully equipped rental apartments, makes Ba Dinh an ideal address for the international community in Ha Noi, with properties like Lotte Residences and Lancaster Luminaire. 

Quality & Service 

Tenants should consider houses or apartments that are fully furnished, with standardised water and electricity systems. At most serviced apartment projects, developers typically provide furniture and services such as cleaning and laundry. External landscaping and security are also provided. 

Finance 

Tenants need to identify a suitable budget and their preferred payment cycle. Typically, housing rental contracts in Vietnam are paid quarterly. However, depending on the agreement and negotiation between the two parties, the payment can be flexible monthly or semi-annually. In addition, business tenants should choose projects provided by large and professional developers to support invoice procedures when needed. 

STEP 2: UNDERSTANDING LEGAL REGULATIONS 

When moving to a new country to live and work, it is essential to understand the legal regulations. To ensure rights and avoid risks during the rental process, tenants must understand the specific rules related to renting a home in Viet Nam. 

According to Clause 1 and 2, Article 4 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Viet Bam 2014, foreigners renting properties in Viet Nam must register for temporary residence with the state management agency on entry and exit. Usually, the landlord is responsible for registering temporary residences for foreign tenants. However, the two parties should agree on this in the rental agreement. 

STEP 3: PROJECT INFORMATION 

To avoid risks, tenants should carefully research any property they are interested in before signing any contracts. Information can be sourced from: 

Online sources 

Online real estate websites and social networks can provide tenants with the latest information about the project in various forms, including images, videos, and 3D maps. However, it is also important to note that online information can be inaccurate, difficult to assess actual quality, and easily faked. 

Real estate consultancy/brokerage firms

Professional consultancy and brokerage firms like Savills offer comprehensive services from sourcing and legal advice to contract negotiation. This helps tenants to save time and minimise risks. Residential leasing experts can also access diverse properties across the city. 

Find out more: Savills Residential Property Leasing Services 

STEP 4: INSPECTION

It is important for tenants to physically look at properties to understand the living environment, security, and facilities. Inspections also allow tenants to see how their homes look and what services are available.  

However, foreign tenants may encounter difficulties during home inspections, like language barriers or time constraints. To solve these challenges, tenants can consider support from residential property brokerage and consultancy firms, taking advantage of their experience to save time and effort and find reputable rental houses. 

STEP 5: NEGOTIATING CONTRACT TERMS 

Legal requirement 

The lease negotiation and signing process is critical. Tenants must ensure the legal validity of their contract and property.  

Specifically, the property must meet the conditions stipulated in the 2014 Housing Law.  

Properties should not be involved in any of the following issues:  

• Dispute, complaint, or lawsuit about ownership; 
• Seizure to enforce a judgment or an administrative decision that has come into legal effect of a competent state agency; 
• Land revocation decision, a notice of housing clearance or demolition from the competent authority; 

Properties should also have a Certificate of Ownership as prescribed by law and should provide electricity, water supply, drainage, and environmental hygiene. 

Contract 

Parties must negotiate some important factors, including rental price, additional costs such as deposit, service usage costs (electricity, water, management fee, and internet), payment responsibility, terms of lease term and renewal, and the rights and obligations of both parties. 

Before signing a contract, tenants must read the terms carefully and seek advice from experienced consultants to guarantee they understand their responsibilities and rights.

Conclusion 

Finding a suitable residential property for lease in Ha Noi can be challenging for foreign tenants. However, Savills makes this process easy and stress-free with comprehensive and specialised residential leasing services. We are a reliable partner, accompanying clients with all their needs to find the ideal rental home. 

Contact Savills Residential Leasing for detailed information or contact via Hotline: +84 948 000 468.