A series of premises with rental prices of over 1 billion VND/month in Ho Chi Minh City

HẠ MÂY | 20/09/2024 07:00

Many people believe that the series of famous brands leaving their premises in the center of Ho Chi Minh City is because the rent is very high, from several hundred million to billions of VND/month.

Recently, real estate brokerage sites have posted information about renting out the premises at 66-68 Hai Ba Trung (District 1) - Thai Cong Vietnam Company Limited, with designer Quach Thai Cong as General Director - for 45,000 USD/month (equivalent to about 1.1 billion VND/month).

This premises has a lease area of 1,517m2, a usable area of 1,400m2, a structure of ^{^{^{^one}}} ground floor and seven upper floors. However, Thai Cong Vietnam Company Limited said that this information is false.

The premises of Thai Cong Vietnam Co., Ltd. are located in a prime location right at the intersection of Hai Ba Trung and Nguyen Sieu streets. Photo: Ha May

A survey by Lao Dong shows that along central streets in Ho Chi Minh City such as Hai Ba Trung, Ly Tu Trong, Nguyen Cong Tru... it is no longer strange that premises with rental prices ranging from hundreds of thousands to billions of dong per month are left vacant.

A space on Ly Tu Trong Street (District 1) has been vacant for many months. Photo: Ha May

"The premises on Hai Ba Trung Street (District 1) with 1 ground floor and ² upper floors, an area of about 1,200 m2, has a rental price of 1 billion VND/month. This is a preferential price because there have been no tenants for a long time and is also equal to the current rental price of many premises in the city center" - Mr. Tran Phuc, a real estate broker in District 1, said.

Similarly, a 200m2 frontage space on Cach Mang Thang Tam Street (District ³⁾ has been rented for many months now at a price of 1.25 billion VND/month.

"With this space, tenants can use it as a company, clinic, spa, restaurant... However, with the current situation, people are tightening their spending, business is difficult, so the space has a high rental price, customers will consider more carefully" - Mr. Trong, real estate broker of this house, said.

Previously, in November 2023, Cushman & Wakefield Company ranked Dong Khoi Street, District 1 as the 13th most expensive retail street on the planet.

According to Ms. Tran Pham Phuong Quyen - Senior Manager of Retail Leasing Department of Savills HCMC, the limited supply of high-end premises has created fierce competition among commercial projects in prime locations. At the same time, the increase in the USD exchange rate has contributed to a significant increase in the rental price of premises in domestic currency.

HẠ MÂY