According to Lao Dong reporters' records, although located in prime locations, many business premises in Hanoi fall into a situation of being closed and locked, with long-term rental signs hanging.
In the center of Cau Giay ward, Ba Dinh (Hanoi), many premises from 40-100m2 are offered for rent with prices reduced by 10-20%, but it is still difficult to find tenants. Some homeowners have to accept leaving premises vacant for 2-3 months, or even longer, instead of expecting to sign long-term contracts as before.
Ms. Nguyen Thu Hue (fashion business owner on Cau Giay street, Hanoi) shared that for more than 1 year, she has been trying to manage and cut many costs to maintain business stability. The issue that Ms. Hue is most worried about is that the rent for premises is too high, accounting for 2/3 of the store's revenue.
Many business households like me are under great pressure when bearing monthly rents of about 40 million VND, while fashion is a very competitive industry, if renting cramped premises in alleys is not suitable and difficult to reach customers" - Ms. Hue said.
From the perspective of tenants, Mr. Le Van Minh (running a coffee shop on Phan Ke Binh street, Hanoi) informed that premise rental costs often account for a large proportion of the store's total operating costs. Currently, Mr. Minh's premise rental costs are around 18 million VND/month, including electricity and water costs.
Meanwhile, consumption habits have changed, the number of customers directly coming to the shop is no longer the same as before. Therefore, if business households are not balanced and still maintain the old model, they will easily face the risk of losses.
After old customers returned the premises at the end of 2025, Ms. Truong Thi Loan (living on Kim Ma street, Hanoi) has not yet found a new tenant.
According to Ms. Loan, before, just posting news for a few days, people would come to see and negotiate. Now, although rent has been reduced and repair costs supported, many people come to see and then leave because they are "headache" about considering business premises costs.
Mr. Tran Hoang (a business premises rental brokerage unit in Hanoi) said that premises rental prices in Hanoi are still set according to the expectations of the hot growth period, while current purchasing power has changed.
Mr. Hoang said that when revenue is no longer enough to cover fixed costs, especially rent, the return of premises is the choice of many people and business households. Most small businesses operate based on short-term cash flow. As soon as revenue decreases for a few months, rent costs immediately become a burden that is difficult to manage.
