premises waiting, rental prices skyrocket
Walking along the central streets of Hanoi capital, it is not difficult to see the scene of houses "fighting" with signs "Renting a house at the same house", "Renting a store"... The situation of street-front houses, located in prime locations such as: Hang Da, Chua Boc, Kim Ma, Nam Dong... have been closed for many months and are no longer strange.
Talking to reporters, a women's fashion store owner on Kim Ma Street confided: "If the tenant has a house here, it will cost around 5-6 million VND, which is very small. Previously, the tenant of this house had sold fashion stores online but opened them directly, so he refused to go. My family rents out the whole house, only selling directly, but for the past 8 years, there have been domestic customers who have just stayed there."
The store owner also gave sincere advice: "Now fashion businesses have to choose streets with many big brands, customers often go through the area where they do business. As for Kim Ma Street, the stores are gradually running out. Business owners must have an extremely "healthy" online platform to open here".
Finding a favorable location at a reasonable price at this time, the above store owner affirmed that it was like "going to the bottom of the tank".
Located right at Kim Ma intersection with Nui Truc street, a 5-storey building also has to "cast a tarpaulin" to announce the entire lease. When asking about the people around him, the reporter immediately received the question: "Is there enough money not to rent, 60 million VND/month? ".
On Chua Boc street, which is known as a fashion street, many shops are also in a state of "closed doors and bolts". Interspersed with sparkling stores are green moss-grown houses, unwritten nameplates, and super fake advertising information.
The landlord did not even post a "Rental House" notification, only contacting the store's security guard next to him every time the customer asked. The store's security guard said: "This house has not been rented since Tet, how many people come to ask and go, but I have not seen anyone renting".
Directly contacting the homeowner, Mr. D.N shared: "We can rent out to tenants for as many months as possible, but the longer the job, the better. The rental price for the first floor with 20m2 is 20 million VND/month, the customer is kind, if they see the house directly, we will negotiate more".
Not only streets famous for fashion business, even on Hang Da ancient street, many premises are not yet filled. The owner posted information about renting a store and shared: "Smaller and medium areas are rare, too big is a lot of money. If the customer is willing to rent, they can sign a 3-year contract, 20 million VND/month. The house before them was selling ice cream but their health was poor so they paid right away".
Reasons why prime lands have been "sleepping winter" for many months
Recorded at apartments combined with shopping malls, the situation of "golden land" lacking tenants continues to occur. PV once noted that in April 2025, The Artemis project and Discovery Complex Shopping Center only operate in a few areas, with up to 80% of the vacant area.
After 4 months, the only other thing at the base of these projects is the appearance of dense advertising signs offering rental space.
Speaking to Lao Dong Newspaper, Mr. Nguyen Chi Thanh - Vice President of the Vietnam Real Estate Brokers Association - said: "The first reason for the brands or distribution units at the premises they leave is the problem of ineffective business and accompanying that are different strategies. However, there are also problems from both the leasing and the lessor regarding the premises, which are also objective factors affecting business.
In addition, online business is currently very developed, so that brands can optimize costs, instead of opening many points, they can choose to open booths at key points. The rental unit does not have a change strategy to suit the current changes, especially without incentives to retain the tenant" - Mr. Thanh frankly shared.
