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All The Fees You Pay For Living In An Apartment That You Should Know

All the fees you pay for living in an apartment

Nowadays, when the land fund in big cities is getting narrower, the tendency to buy apartments becomes more popular. However, what buyers are worried about is that they pay a lot of the cost of living every day. 

Monthly service fee

This is a compulsory fee when living in the apartment you have to pay. According to Vietnam real estate find out, the fee will depend on the type of apartment you live in as a popular or luxury apartment and the size of your apartment. The average monthly service fee in the apartments currently ranges from VND 2,500 to VND 16,500/m2/month. Depending on the type of apartment and the agreement between the investor and the buyer of the apartment at the beginning.

~~>>See more information about the real estate news here: Vietnam real estate news

All the fees you pay for living in an apartment
In an apartment, residents will benefit from standard utilities.

Usually, these popular apartments with low price have services fee ranging from VND 5,000 to less than VND 10,000/m2/month. In summary, if you live in a popular apartment, it will cost you several hundred thousand to over one million for the service fee.

For luxury apartments, the cost for this service will be over VND 1 million. Fees will increase as the area of the apartment is large and vice versa. The small area will be less.

This is the cost of all operation and management for the apartment. This cost depends on the standard and quality of the apartment project such as the luxury apartment, popular apartment or low-cost apartment. However, the cost of apartment management ranges from VND 4,000 – VND 8,000/m2. The management fee will be directly proportional to the purchasing price of the apartment, with the same area, the luxury apartment often has a higher management fee than the popular apartment.

Each apartment project will have a different rate of revenue and should not exceed the regulated ceiling prices, exceptions if there is an initial agreement between the customer and the investor. However, in practice, there have been many cases of disputes between customers and investors surrounding this type of charge. Therefore, in order to avoid this case, the buyer should ask for the management fee before signing the contract.

Some other types of fees

In addition to the management fee, service fee, when living in the apartment you also have to pay some other fees such as parking fees, maintenance fees …

In particular, monthly average motorcycle fee will be as follows:

  • The monthly motorcycle fee will range from VND 50,000 to VND 100,000/ motorcycle/month.
  • The monthly car fee will range from VND 500,000 VND to VND 1.2 million/ car /month.
  • The total cost of the vehicle with a family of 4 members with 2 motorcycles, a car will fall to about VND 1.5 million per month.

Maintenance Fee: This fee is usually paid in one time equal to 2% of the value of your apartment when you buy an apartment. This means that the fee will depend on the value of the apartment. The higher the apartment, the greater the maintenance fee you pay and vice versa.

~~>>Read more information about the real estate market here: Vietnam real estate market

All the fees you pay for living in an apartment
The monthly cost of vehicle in the apartment will depend on the number of vehicle of the residents

This is the monthly living cost that you should pay no matter living in the townhouse or in an apartment. This cost will depend on the usage of your family at the price set by the state.

Summary: According to Vietnam real estate analysis, the total monthly cost of living in an apartment will amount to over VND 1 million for a popular apartment, between VND 3 million and VND 4 million for luxury apartments, and higher depending on the area of the apartment where you live.

Another note to know when buying an apartment is to read carefully the terms provided on the contract of sale of the apartment. This will cover all aspects of apartment management as well as service fees, parking fees, apartment maintenance fees, time to get a red book…

Refer to the fees at the Vinhomes apartment project

The Vingroup Group’s Vinhomes apartment projects are the first choice for many customers because they own a lot of utilities and services. However, to use these utilities, residents will have to pay the following monthly costs:

  • Security services, 24/7
  • Cleaning services for common property and community facilities
  • Collection, treatment and maintenance of natural green landscape
  • Maintenance, inspection of fire prevention and fighting systems in accordance with TCVN standards
  • Service fee for galvanometer, water-clock
  • Collection and payment of utilities and other living expenses for common property and common public utility
  • Charge for checking books, keeping records

In addition to basic services, the Vinhomes apartment complex also includes five-star utilities to serve residents such as four-season swimming pool, lounge, garden, playground outdoors, walking street, water music show …

See also: What is powers and responsibilities of apartment management board?

According to the regulations, the management fee of each apartment is paid on a monthly basis, at the moment the service price in Vinhomes apartment is VND 13.000 VND/m2 before VAT, after adding 10% VAT service fee will be VND 14,300 VND /m2. This price compared to the middle-class apartment in the area is a bit high, but with the 5-star luxury standard of Vingroup Group brought in Vinhomes real estate projects, the service fees are considered a reasonable price.

All the fees you pay for living in an apartment
The Vinhomes projects possess many outstanding public utilities

Cost of parking in Vinhomes apartment:

In the Vinhomes apartment buildings, each family will be offered for one car and two motorbikes at a discounted price of VND 1,250,000 per car per month, VND 45,000 / 1 motorcycle/month.

Cost of electricity, water in Vinhomes:

Water and electricity cost are calculated according to the government’s price list and depend on the company to provide electricity and water for the project. The current electricity prices for Vinhomes are as follows:

+ From Kwh 0-50: Price of VND 1.388

+ From Kwh 51-100: Price of VND 1,433

+ From Kwh 101- 200: price of VND 1,660

+ From Kwh 201- 300: price of VND 2,082

+ From Kwh 301 – 400: price of VND 2.324

+ From Kwh 400 or above: Price of VND 2.399

(Prices do not include 10% VAT)

With the price of electricity as above is relatively reasonable for residents because the price is the general price for people according to state regulations.

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