VietNamNet Bridge – The increase in the number of foreigners living and working in HCM City is bringing a windfall to house owners who lease out their houses to foreigners.

Though official statistics are not available, telephone information service 1080 estimates there are around 6,000 foreigners in the city now.

But not all of them can afford the US$2,000 and above a month that deluxe and serviced apartments cost, especially single people and students. Renting a room in a house is often a good option for many, thanks to the lower rents.

Thai Van Lung Street in District 1 was the first place in the city where this became popular. Since 1995, Quarter 4 here has been known as the “Western quarter”.

Most house owners here build three to five floors, leasing out as many as seven rooms with facilities like internet connection, air-conditioner, water heater and furniture.

Similar has been the case with Quarter 5, Nguyen Thi Minh Khai Street, District 1, which is located near the University of Social Science and Humanities, where many Japanese and South Korean students study.

Rooms measuring 10-15sq.m. here cost VND6-6.5 million ($362-393) a month, including power and laundry.

Many people even move out of their houses to rent them out to foreigners.

Le Van Tam says his family owns five houses in districts 1, 3, and 5 and has rented out all of them to foreigners for nearly VND200 million ($12,000) a month.

Vo Minh Chau of Phu Nhuan District, who has rented out two floors to three Australian students for the last two years, says having foreigners staying in the house also helps both owner and tenant benefit from each other in terms of cultural exchanges.

“Especially those who are studying or doing research on Viet Nam,” he points out.

While Vietnamese hosts help them learn the country’s customs and language, he says sometimes his lodgers help his children with studies.

His children no longer play computer games, but have, instead, become interested in learning English to communicate with their new friends, he says proudly.

(Source: Viet Nam News)