The short-term apartment rental service in HCM City has grown increasingly popular, especially in the city centre. These apartments offer tourists convenience at a lower cost than hotel rooms.
According to a broker, his team manages 50 apartments for hire across HCM City. Nightly rates range from VND1-4 million (USD39.2-156.86), depending on location and size. The price covers complete services, including housekeeping, utilities, internet, and access to condominium amenities such as the gym and swimming pool.
The apartment buildings in HCM City (Photo by Hoang Minh)
Staying in these apartments is more affordable than hotels, and tourists can cook for themselves. Many foreign visitors, especially group travellers, prefer this option.
Several apartment buildings in District 4 have experienced a surge in short-term rentals by tourists. On Airbnb, rental prices for apartments along Ben Van Don Street range from VND500,000 to 2.7 million each night.
An apartment owner at Masteri Millennium in District 4 said she rents her two-bedroom unit on Airbnb for VND1.8 million per night. Guests booking via the platform have to pay an additional fee of VND300,000.
There are no vacancies for my apartment until late this month," she noted, adding that a two-bedroom apartment can accommodate four adults. Check-in and check-out times are based on hotel standards, and renters can utilise all condominium amenities just like residents.
However, many HCM City residents have opposed the brief-stay apartment rental service for travellers.
Tran Thu Hien, a resident of an apartment building on Ben Van Don Street in District 4, complained about excessive noise and increased strain on elevators, swimming pools, and gyms.
According to Le Hoang Chau, Chairman of the HCM City Real Estate Association, the association urged the Ministry of Construction to issue a legal framework for the effective management of short-stay apartment rentals.
This kind of business continues to develop amid the rapid advancement of digital technology. Instead of banning what cannot be controlled, authorities should have more effective management measures.
Besides requiring business registration and tax compliance, Chau suggested that owners of short-term rental apartments pay additional management fees, as their rental activities add to the management board's workload and responsibilities.
Under HCM City's regulations, tourists can only rent apartments in mixed-use developments for short stays, including daily and hourly bookings. Hosts must report guest stays and register their temporary residence as mandated by law.
