Drowning in losses due to super expensive rental prices for townhouses

Thu Giang |

Hanoi - Continuously suffering losses, many shop owners are forced to return their premises urgently because of the high rental prices of townhouses in the central districts of the capital.

According to Lao Dong reporters, many townhouses in central districts of Hanoi have been continuously posting signs for rent and transfer in large numbers.

Ms. Nguyen Hong Vy (36 years old) - owner of an interior design business in Hanoi - informed that for more than half a year now, she has decided to return the 60 million VND/month business premises on Vu Pham Ham Street (Cau Giay District) to move to the suburbs of Hanoi.

According to Ms. Vy, for a long time, all of the company's revenue and profits were collected to pay for expensive rental space. There were even months when orders dropped, and after paying for rental space and employee salaries, her company had to bear a huge loss.

Also accepting to pay the rent of 15 million VND/month for the business premises, Mr. Nguyen Quoc Huy (selling phone accessories on Nguyen Trai Street, Thanh Xuan District) said that the rent was too high, causing him a lot of pressure.

To save costs, Mr. Huy has just found a 50m2, 2-storey business premises to rent in an alley for only 6.5 million VND/month.

a
Many prime land plots on Kim Ma Street (Ba Dinh District, Hanoi) are hanging signs for rent. Photo: Thu Giang

According to a recent report by e-commerce data platform Metric, Vietnamese people are spending an average of $1 billion a month on online shopping. Of which, 32% of consumers shop online several times a week. Notably, product groups such as fashion, accessories... which previously favored beautiful premises are showing a sharp decrease in demand for townhouses.

Mr. Dinh Minh Tuan - Director of real estate market analysis site Batdongsan.com.vn - informed that from the beginning of 2024 until now, many townhouses in Hanoi are still having difficulty finding tenants.

To overcome this situation, landlords will have to adjust prices according to a mechanism, with prices more suitable for groups of tenants.

Regarding rental prices, recent data from CBRE Vietnam also analyzed that in the next 3 years, retail rental prices in central areas are expected to increase by 7-10% and in non-central areas will increase by 2-3%.

Currently, rental prices in the central area have reached nearly 280 USD/m2/month, an increase of 18.5% compared to last year.

Thu Giang
TIN LIÊN QUAN

The whirlwind of land clearance spreads across two golden land streets in Ba Dinh

|

Hanoi - Dozens of business premises are still vacant, with no tenants on Giang Vo and Kim Ma streets (Ba Dinh district).

The first locality to hand over full land for Hanoi Ring Road 4 project

|

Of the 7 districts in Hanoi that Ring Road 4 passes through, only one locality has handed over enough land for the project.

Urgently amend the Decree on gold trading in July

|

The Prime Minister requested to strengthen the management of the gold market; urgently submit amendments to Decree 24 on gold trading in July 2025.

drones rescue two children from the rushing water in Gia Lai

|

Gia Lai - Farmers used drones in agriculture to quickly rescue 2 children from the rushing water, making many people admire.

Liquidity skyrocketed in the adjusted stock market session

|

Stock market liquidity increased sharply, largely thanks to improved investor sentiment.

Nghe An Department of Education and Training speaks out about the announcement of 2.5 admission points for grade 10

|

Nghe An - The Department of Education and Training spoke out after Nam Dan 2 High School announced the second round of 10th grade admission scores of only 2.5 points, causing a stir in public opinion.

Liverpool striker Diogo Jota passes away due to accident

|

Liverpool striker Diogo Jota died in a serious traffic accident in the province of Zamora ( Spain).

Ms. Paetongtarn and the new Thai cabinet sworn in

|

On the morning of July 3, Thai Prime Minister Paetongtarn Shinawatra and new cabinet ministers were suspended and sworn in at the Government Headquarters in Bangkok.

The whirlwind of land clearance spreads across two golden land streets in Ba Dinh

Thu Giang |

Hanoi - Dozens of business premises are still vacant, with no tenants on Giang Vo and Kim Ma streets (Ba Dinh district).

The first locality to hand over full land for Hanoi Ring Road 4 project

HỮU CHÁNH |

Of the 7 districts in Hanoi that Ring Road 4 passes through, only one locality has handed over enough land for the project.

Dự án hơn 1,6km ở Bến Tre vướng giải phóng mặt bằng kéo dài

Thành Nhân |

Bến Tre - Công tác giải phóng mặt bằng của dự án hạ tầng thiết yếu ổn định đời sống dân cư phường 8 và xã Phú Hưng (TP Bến Tre) giai đoạn 2 đang bị ách tắc.