Continuously hanging signs of price reduction from 2-10%, reducing contract period to 6 months instead of 1 year, but 2 premises with prime locations on the central route of Can Tho City owned by Mr. Tran Tuan Khanh (Ninh Kieu district, Can Tho city) still have signs waiting.
It is known that in 2022, Mr. Khanh spent 2.2 billion VND to buy 3 premises. However, due to poor business and inability to pay interest on loans, Mr. Khanh had to mortgage one of the premises to pay off the debt.
"A year ago, I rented out a 150m2 space for 23 million/month. After 3 months of hanging the sign, there were still no customers, so I continued to lower the rental price to 180 million/year, the rental period was 3 years, if the customer bought, there would be a 2% discount. However, until now, the space is still closed and waiting for the shop," said Mr. Khanh.
Talking about the reason for the unsold premises, this owner said: "After negotiating with the customer, I proactively "gave in" and reduced the price from 15 million to 12 million/month, but the customer still asked for a further reduction because they said it was expensive and the business was not profitable."
Similarly, renting out a ground floor and first floor space that meets the conditions for decorating into a clothing shop, and supporting 3-month rent payment at once, Ms. Nguyen Kieu Phung (Ninh Kieu district, Can Tho city) was still refused by the customer.
"The customer said they needed a large area to use as a warehouse, not to renovate it into a store, so they asked to reduce the rent from 10 million to 5 million/month because they sell online and do not do business directly," said Ms. Phung.
Mr. Cao Van Hung (real estate broker in Can Tho City) said: Since the COVID-19 pandemic, the real estate situation has been sluggish due to economic difficulties. Many businesses have closed down and returned their premises because the rent is too high compared to the profits earned.
"The unsold premises may be due to the fact that the tenant and the landlord have not yet agreed on a price. Furthermore, the potential of the e-commerce market is growing, many people are gradually switching to online business, so the premises are no longer the top priority. This is also the reason why the owners are gradually losing the initiative, and even with deep discounts, there are still no customers," said Mr. Hung.
According to the Can Tho Real Estate Association, from now until the end of 2024, demand will still be concentrated in the apartment segment with real housing needs, at suitable prices; land prices will start to increase around 10%, and some areas may even increase by 15-20% over the same period due to the continued scarcity of primary supply.
