Speaking to Dan Tri newspaper reporter, Mr. Furusawa Yasuyuki - Member of the Executive Board of AEON Group (Japan) in charge of the Vietnamese market, and General Director of AEON Vietnam - said that this unit will accelerate network development and open new business locations. In the long term, Vietnam is the second key market, next to Japan.
This company has just launched a new department store and supermarket outside the AEON shopping center in District 8, Ho Chi Minh City. In the process of finding this new location, Mr. Furusawa Yasuyuki admitted that the rent is getting more and more expensive.
The increasing rental prices of retail space in shopping malls is also a topic that many market research units have mentioned recently.
Ms. Duong Thuy Dung - Managing Director of CBRE Vietnam - pointed out that in the first half of the year, in Hanoi, the rental price in the central area increased by 11% and in the non-central area increased by 18% compared to the same period last year. In Ho Chi Minh City, the rental price increased by 18% in the central area and 15% in the non-central area.
According to her, retailers who already have stores in the central area are interested in the peri-central areas in Ho Chi Minh City and Hanoi. Demand is increasing from Chinese retailers, especially F&B (food and beverage) and lifestyle brands.
She predicts that rental prices will continue to grow at a positive rate this year, following the upward trend from 2022. The increase will be 8-9% in the central area and 17-18% in non-central areas, in Ho Chi Minh City and Hanoi.
Rents for space in shopping malls are increasing (Illustration: Manh Quan).
Ms. Cao Thi Thanh Huong - Senior Manager of Savills HCMC Research Department - also said that the rental price of ground floor space in commercial centers in HCMC in the second quarter increased by 3% compared to the same period last year thanks to 20% of the total supply having increased rental prices.
The strong recovery of the domestic economy has boosted the development of the retail industry, attracting new brands to enter the market and continuing to expand. In the coming time, the market will tend to expand to neighboring areas instead of just in the center.
She believes that the retail sector will continue to perform well due to Ho Chi Minh City’s young population, growing middle class and rising assets, which will contribute to expanding the modern retail market share. According to Oxford Economics, consumer spending in Ho Chi Minh City is forecast to increase by 8.4% by 2025, with modern retail accounting for 50% of the market share of retail channels.
Retail rental prices in Hanoi in the coming time will also be quite positive, tending to stabilize or increase due to limited new supply. This means that existing projects in prime locations will continue to maintain high occupancy rates and may increase rental prices.
Although rental prices are increasing, Ms. Do Thi Thu Hang - Senior Director, Consulting and Research Department, Savills Hanoi - assessed that the cost of renting high-end premises in Hanoi and Ho Chi Minh City is still competitive compared to many markets in the region.
Specifically, the rental price of high-end premises in the central area of Hanoi is 96.4 USD/m2 and in Ho Chi Minh City is 151 USD/m2. This price in Kuala Lumpur is 158.6 USD/m2, Singapore is 399.7 USD/m2 and 289.5 USD/m2 in Beijing.
In contrast, in other cities in the region, the abundant supply of retail space has created great competitive pressure, forcing owners to adjust rents to attract customers.
Source: https://dantri.com.vn/bat-dong-san/gia-thue-mat-bang-ban-le-trong-trung-tam-thuong-mai-ngay-cang-tang-20240926155149292.htm
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