Shortage of villas for rent in Ho Chi Minh City

Villas for rent in Ho Chi Minh City have now mostly been booked up, though their rental fees are up to $6,000 a month per villa.

An Phu mansion area in District 2 has 200 villas which are all full. Another villa area named Thien Nga nearby is too filled, though rents here are US$3,500-6,000 a month. Most tenants signed contracts lasting 1-2 years.

Another villa area covering thousands of square meters on Phung Khac Khoan Street in district 1 belonging to the Foreign Trade Development and Investment Corporation is also booked up.

Recognizing the high demand for villas, the company has been building more mansions on prominent land plots in downtown areas, but while they are yet to be finished, they have been booked by either firms, investors or speculators, a company employee said.

Here, fees are $18-20 per square meter and a rental contract must have duration of at least one year.

State-run Service Company to Foreign Missions (Fosco) said villas on Ba Huynh Thanh Quan Street in district 3 charging $1,700-1,900 per month per villa had been filled for the past six months.

Thirty mansions up to $3,000 a month in rents overseen by Fosco have also been full.

Meanwhile, rental fees for offices have gone up 30 percent from $23 per square meter a month to nearly $30 in the city.

Source: Tuoi Tre – Translated by Hoang Bao

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Transportation company offers luxury cars for rent

The Mai Linh Shareholding Company has invested nearly 79 billion VND into more than 1,000 new luxurious cars that will be mainly for short or long-term rentals in Ho Chi Minh City.

Mai Linh bought dozens of the latest car models including 20 E-Class Mercedes, each worth 92,000 USD, and many modern cars produced by BMW and Toyota that fit four to 30 passengers, said its general director, Ho Huy.

With the luxury car service, the company is targeting rentals from domestic and foreign investors, VIP figures and international visitors.

In the past, Mai Linh’s cars have been hired many times to receive foreign leaders and their entourage like former French President Francois Mitterrand and former American President Bill Clinton.

Mr. Huy confirmed his company would also develop the service to other major Vietnamese cities like Hanoi, Hai Phong and Da Nang.

(Reported by TN – Translated by Minh Phat)