A recent survey by PV Lao Động on August 7 found that many shophouses with prices in the tens of billions of dong in Hà Đông and Tây Hồ districts (Hà Nội) have been continuously posting "for rent" signs in recent times.
Some owners have even gone as far as posting "for rent" signs for individual floors to make it easier for customers to choose according to their needs.
Ms. T.T (who owns a shophouse in Hà Đông district, Hà Nội) shared that she is currently renting out the first floor of her 95m2 shophouse for 28 million dong per month. If the entire 6-story shophouse is rented, the price would be up to 120 million dong per month.
"The shophouse is located on Tố Hữu Street (Hà Đông district) and is very suitable for use as an office, showroom, or commercial space. The shophouse has been completed and is fully furnished, with an elevator and all necessary equipment such as air conditioning and lighting systems" - Ms. T.T said.
It's not just in Hà Đông district that shophouses are being rented out. In Tây Hồ district (Hà Nội), a large number of shophouses have been posting "for rent" signs in recent times.
In an interview with PV Lao Động, Mr. N.T (who owns a shophouse in Tây Hồ district) shared that he is renting out two 5-story shophouses with an area of over 100m2.
According to Mr. N.T, the shophouse on the main street is still in its raw state. If the tenant is willing to work with him, he will complete the interior and install an elevator, and rent it out for 120 million dong per month.
Mr. Trần Hoàng (a real estate broker in Hà Nội) also admitted that the shophouse market is very picky because of its high price.
According to Mr. Hoàng, the rental price of shophouses in the central area of Hà Nội is currently ranging from 50-150 million dong per month, depending on the area and location. Not only shophouses on the main street, but also many shophouses located in the basement of apartment buildings in Hà Nội have been posting "for rent" signs or being sold in recent times.
Experts from CBRE Việt Nam assessed that the shophouse market only has potential when it meets certain criteria such as the project having the ability to quickly fill up, good amenities, a large enough community of residents within the project, and good connectivity to attract residents from outside the project.
Meanwhile, the quarterly report of DKRA Group in the second quarter of 2024 also pointed out that the market for residential houses and shophouses in Hà Nội is still in a state of stagnation, with overall demand decreasing by approximately 60% compared to the same period last year, and the recovery trend of this segment is still at a low level.
Ms. Giang Huỳnh - Deputy Director, Head of Research and S22M Savills Việt Nam - predicted that the market for luxury villas, shophouses, and super-luxury houses in major cities such as Hà Nội and TP Hồ Chí Minh will still have long-term growth potential due to the difficulty in increasing supply, while the wealthy and ultra-wealthy in Việt Nam are expected to increase rapidly in the coming time. However, the liquidity of this segment is still low.
