Recorded by Lao Dong reporter in the first days of August, a series of premises in central Hanoi streets such as Kim Ma, Nguyen Thai Hoc, Xa Dan... have been vacant recently. Among them, many street-front houses with expensive rents have not been able to find tenants from the end of 2023 until now.
It used to be a street with a concentration of clothing and fashion accessory stores, Ms. Nguyen Thi Lien (business on Kim Ma street, Ba Dinh district, Hanoi) informed, although many stores here have posted signs for rent. On the street, there are all kinds of offers but this year there have been no customers asking to rent.
According to Ms. Lien, not only posting signs for rent, on many online groups, every day there are also dozens of news about street-front houses for rent, transfer of fashion stores, and spas on central streets of Hanoi. Due to not being able to bear the expensive rent , the situation of urgent transfer to get back the deposit according to the contract also spread to many streets in Ba Dinh district.
Also posting a sign for rent of a 3-storey house on Hang Bong street (Hoan Kiem district, Hanoi), Ms. Tran Thi Linh shared that the current rental price of this premises is 90 million VND/month. To retain long-term tenants, Ms. Linh considered reducing the rent by 10% in the first month, allowing tenants to deposit 1 month instead of 3 months as before to reduce financial pressure. CBRE Vietnam's real estate market focus report for the second quarter of 2024 said that in the next 3 years, it is expected that retail space rental prices in central areas may increase by 7 - 10% and other areas. outside the center will increase by 2 - 3%. Currently, the rental price in the central area has reached nearly 280 USD/m2/month, an increase of 18.5% compared to the previous year. In Hanoi, there is also a trend of increasing business rental prices in the central area, with the current rental price reaching 180 USD/m2/month, an increase of 11.3% over the same period last year.
Mr. Dinh Minh Tuan - Director of the real estate market analysis site Batdongsan.com.vn - informed that from the beginning of 2024 until now, house renters will begin to have to adjust prices according to the appropriate mechanism and price level. More suitable for groups of renters.
Economic expert, Dr. Nguyen Minh Phong, said that the situation of stagnant premises in many central streets of the Capital is increasingly common. The reason is due to rising rents and fierce competition from e-commerce .
