Golden land in Hanoi with many incentives still has no tenants

NGỌC THUỲ |

For many reasons, a series of premises on Hanoi's central streets are difficult to rent, and even remain vacant for many months.

In recent months, a series of streets on the capital's "golden land" for business have massively returned land because of business losses. On the central streets of the Capital such as Kim Ma, Nguyen Luong Bang, Tay Son, Chua Boc... business is quiet, some storefront houses have closed since the end of last year until now because there are no tenants.
In recent months, a series of streets on the capital's "golden land" for business have massively returned land because of business losses. On central streets such as Kim Ma, Nguyen Luong Bang, Tay Son, Chua Boc... business is quiet, some storefront houses have closed since the end of last year until now because there are no tenants.
Rental prices for business premises on these streets range from a few tens of millions to hundreds of millions of VND/month
Business premises on these streets cost from a few tens of millions to hundreds of millions of VND/month
Once renting space to do a clothing business on Chua Boc street, Ms. Ha Tu Anh had to pay the space to switch to selling online since the beginning of the year: "My family paid the space to switch from online to offline business from the beginning of the year. Due to business difficulties, the landlord continuously increased the rent, forcing us to push up product prices. To compete on price, we were forced to switch to selling online to reduce costs. In my opinion, this trend is inevitable."
Once renting space to do a clothing business on Chua Boc street, Ms. Ha Tu Anh had to pay the space to switch to selling online from the beginning of the year: "My family paid the space to switch from offline to online business from the beginning of the year. Due to business difficulties, the landlord continuously increased the rent, forcing us to push up product prices. To compete on price, we were forced to switch to selling online to reduce costs. In my opinion, this trend is inevitable."
Ms. Thuy Duong, a broker specializing in renting residential houses in the center of Hanoi since 2019, said that finding beautiful premises to rent on "golden" streets for business people has never been as easy as it is now.
Ms. Anh Tho, a broker specializing in renting residential houses in the center of Hanoi since 2019, said that finding beautiful premises to rent on "golden" streets for business people has never been as easy as it is now.
“Before the epidemic, finding space to rent on streets like Chua Boc and Tay Son was very difficult, because the location is beautiful and convenient for business people. Many 4-5-storey apartments have not yet been visited by old customers and new ones have come to see them. In recent years, the economy has been difficult, the products have not been sold to many households, even though they have been in business for many years, they still pay the premises. Many landlords have flexibly reduced the deposit, reduced the number of months of payment from 3 to 6 months instead of the whole year like before, and there are no tenants," the rental broker said.
“Before the epidemic, finding space to rent on streets like Chua Boc and Tay Son was very difficult. Many 4-5-storey apartments have not yet been visited by old customers, but new customers have come to see them. In recent years, the economy has been difficult, goods have not been sold much, even though households have been in business for many years, they still pay for premises. Many landlords have flexibly reduced the deposit, reduced the number of months of payment from 3 to 6 months instead of the whole year like before, and there are no tenants," the rental broker said.
With the above reality, economic expert Dr. Nguyen Minh Phong said that there needs to be a compromise between the lessor and the lessee, thereby creating a match between supply and demand. When these townhouses close, the landlord's income will certainly decrease. Many tenants will tend to move their activities from street-front houses to alleys or move to places with more suitable prices. Many real estate experts believe that when the economy begins to recover in 2024 and foreign brands return, the basic townhouse rental market will begin to move and gradually recover in 2020. 2025.
With the above reality, Dr. Nguyen Minh Phong - economic expert said that there needs to be a compromise between the lessor and the lessee, thereby creating a match between supply and demand. When these townhouses close, the landlord's income will certainly decrease. Many tenants will tend to move their activities from street-front houses to alleys or move to places with more suitable prices.
Many real estate experts believe that when the economy begins to recover in 2024 and foreign brands return, the basic townhouse rental market will begin to move and gradually recover in 2020. 2025.
Many real estate experts believe that when the economy begins to recover in 2024 and foreign brands return, the basic townhouse rental market will begin to move and gradually recover in 2020. 2025.

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