Talking to Lao Dong, Ms. Nguyen Thi Binh (doing business on Dai Co Viet Street, Hai Ba Trung District) said that traditional store shopping is very sluggish.
In the first 2 months of 2025, many stores on Dai Co Viet street have been forced to transfer and return business premises due to failure to pay for rental and import costs.
Similarly, Mr. Le Huu Manh informed that his family is renting a 65m2 store on Bach Mai Street (Hai Ba Trung District) with 3 floors for 30 million VND/month, a 2-year long-term contract.
Mr. Manh said that although the rental price has been adjusted down, his family's business has still had to close and has not found a suitable tenant.
According to Lao Dong reporters, in Hai Ba Trung district, on streets such as Bach Mai, Vong street, Ta Quang Buu, Tran Chat Chan, there are many premises with signs for rent at prices ranging from 15 - 75 million VND/month, depending on the area.
Although located in a densely populated area with many agencies and schools, the number of vacant premises on the streets of Hai Ba Trung district has recently increased over time, making it difficult to find tenants.
Mr. Dinh Minh Tuan - Director of Batdongsan.com.vn - commented that when the demand for renting business premises decreases, landlords will have to adjust the mechanisms to better suit the groups of customers renting premises.
Many real estate experts also commented that when the economy begins to recover and foreign brands return, the market for renting townhouses will basically start to move in 2025.
Commenting on the current situation of renting premises on Hanoi streets, Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association (Vars) - informed that to overcome this situation, businesses and store owners need to study and adapt to the current market such as the application of technology in sales, changes and fluctuations in the market. In particular, it is necessary to rebalance rental prices to be reasonable.
