Apartment rental yield: how to calculate gross and net

Legal basis: Decree 141/2026/NĐ-CP amending Decree 68/2026/NĐ-CP (real estate rental revenue threshold of 1 billion VND/year, applicable from 01/01/2026); Circular 50/2026/TT-BTC dated 13/5/2026 (form 01/BĐS) · Updated 20/10/2026.

Gross yield needs only two figures: one year's rent and the purchase price. Net yield is the money that actually ends up in your pocket after all costs — in the example below it is about one third lower than the gross yield. When comparing two units, compare net yields calculated the same way.

Gross yield

Formula: monthly rent × 12 ÷ purchase price of the unit × 100%.

A unit priced at 4 billion VND, let at 11 million VND/month: 132 million ÷ 4,000 million = 3.3% per year. This is the figure that often appears in adverts and market reports, because it is easy to calculate and easy to compare across areas.

For a general benchmark: Avison Young's Q3/2026 report (reported by Vietnam+ on 13/10/2026) recorded residential rental yields in HCMC of only about 2–3% per year, while mortgage rates were 12–15% per year. A unit offered with a "6–8% yield" should prompt follow-up questions: calculated on what price, where does the rent figure come from, have costs been deducted?

Net yield: what to deduct

Formula: (rent actually collected in the year − costs in the year) ÷ total capital invested × 100%.

• Vacant months: the time between two leases, cleaning and repairs. Allow at least 1 month per year.
• Management fee, parking fee: if the lease says the owner pays, or during months when the unit is empty.
• Brokerage and letting service fees: each time a new tenant is found.
• Repairs and maintenance of furniture and fittings: air conditioners, water heaters, repainting after each tenancy.
• Rental tax: see the section below.
• Initial capital beyond the unit price: registration fee, furniture needed to let the unit — these should be added to the denominator.

Rental tax from 2026: the 1 billion VND threshold

• Individuals with total real estate rental revenue of 1 billion VND/year or less do not pay value-added tax (VAT) or personal income tax (PIT) on this activity (Decree 141/2026/NĐ-CP, raised from the previous 500 million VND). The rule also applies to contracts signed before 01/01/2026 that remain in effect for more than 6 months.
• Not paying tax still requires declaring revenue: once, by 31 January of the following year at the latest, or twice (31 July and 31 January of the following year), on form 01/BĐS via eTax Mobile or the tax sector's public service portal. If you let two or more properties, you also prepare a schedule on form 01/BK-BĐS.
• The threshold is based on the total revenue from all units of the same person. Reference example: three units with total revenue of 1.2 billion VND/year; if 5% VAT applies to the entire revenue and 5% PIT to the part above 1 billion VND, the tax payable is about 60 + 10 = 70 million VND.

For a single unit let at 11 million VND/month, revenue is about 132 million VND/year, far below the 1 billion VND threshold.

Reference example: from 3.3% down to about 2.2%

Assumptions: a 4 billion VND apartment; rent of 11 million VND/month; vacant 1 month/year; the owner pays a management fee of 1 million VND/month; a brokerage fee of 1 month's rent each year; repairs of 8 million VND/year; revenue below the threshold, so no tax; initial capital also includes the 0.5% registration fee (20 million VND) and 150 million VND of furniture.

Item	Amount / year
Rent if let for all 12 months	132 million VND
Less 1 vacant month	− 11 million VND
Management fee paid by the owner	− 12 million VND
Brokerage fee (1 month's rent)	− 11 million VND
Repairs and maintenance	− 8 million VND
Net income	90 million VND (about 7.5 million VND/month)
Gross yield (132 ÷ 4,000)	3.3%
Net yield on the unit price (90 ÷ 4,000)	about 2.25%
Net yield on total capital (90 ÷ 4,170)	about 2.16%

Change any assumption slightly and the result changes with it: 3 vacant months instead of 1 leaves net income of about 68 million VND. If you buy with a loan, you must also deduct the interest — see safe bank-loan leverage.

Work it out for your own unit

The rental income calculator lets you enter the rent, number of vacant months, management fee, service fee, repairs, tax (% of revenue) and the value of the unit to get net income per year, per month and the net yield. The calculator does not suggest a rent — take the rent from actual leases in the same project for the same unit type, not from asking prices in listings.

This article is for reference only and does not replace legal or financial advice for your specific case.

1. Take the rent from actual leases in the same project for the same unit type — do not use asking prices or advertised figures.
2. Calculate the rent actually collected: rent × (12 − expected number of vacant months).
3. List the annual costs: management fee paid by the owner, brokerage / service fees, repairs, insurance (if any).
4. Add up the total rental revenue of every unit in your name to see whether it exceeds the 1 billion VND/year threshold; if it does, ask the tax authority how it is calculated.
5. Calculate total capital: unit price + registration fee + furniture + other costs needed to make the unit lettable.
6. Net yield = (rent actually collected − costs) ÷ total capital. Run it again with 2–3 vacant months to see a worse scenario.
7. If buying with a loan: compare the monthly net rent with the loan repayment at the post-promotion interest rate.
8. Declare rental revenue to the tax authority on time, even when no tax is yet payable.

Sources in Vietnamese unless noted; titles kept in the original, with a short English translation in brackets.

• Vietnam Financial Times (Ministry of Finance) — Doanh thu cho thuê bất động sản dưới 1 tỷ đồng/năm, cá nhân không phải nộp thuế (Individuals with real estate rental revenue under 1 billion VND/year pay no tax — Decree 141/2026/NĐ-CP, Circular 50/2026/TT-BTC, Circular 18/2026/TT-BTC), 12 June 2026.
• VnBusiness — Cho thuê nhà 1 tỷ đồng trở xuống không phải nộp thuế, nhưng chủ nhà bắt buộc phải làm điều này (No tax on rental revenue of 1 billion VND or less, but landlords must still do this — Tax Department information of 12 June), 12 June 2026.
• Einvoice — Cá nhân cho thuê nhà doanh thu dưới 1 tỷ đồng/năm cần lưu ý gì về kê khai thuế? (What landlords with revenue under 1 billion VND/year should note about tax declaration — calculation when above the threshold), 24 June 2026.
• Vietnam+ (VNA, citing Avison Young) — Ho Chi Minh City's housing market sees price stabilisation, sharper buyer segmentation (in English), 13 October 2026.