TPO - Many rental premises on prime streets and locations in the central area of Ho Chi Minh City have been vacant for many years and are filled with advertising signs and graffiti.
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The frontage of central streets in Ho Chi Minh City is considered as valuable as gold, but the number of vacant premises has been unprecedented in recent years. |
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Some places have become street vendors, stops for motorbike taxi drivers, and delivery people. |
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Le Loi Street (District 1) is one of the streets with high rental prices in Ho Chi Minh City, but there are also many closed premises waiting for tenants. |
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Many of the premises are currently vacant and covered with graffiti. |
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The whole street is deserted and quiet because there are not many shops. |
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The rental price for these premises is very high, from 4,500 - 45,000 USD/month, so most tenants cannot afford it and have to return the premises. |
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Despite being located near famous landmarks of the city such as Ben Thanh Market, City Theater, Nguyen Hue walking street, dozens of premises on Le Loi street are still in a state of "closed doors and locks". |
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Most of the windows are graffitied, causing loss of urban beauty. |
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| Another site on Le Loi Street is also abandoned and shows signs of serious degradation. |
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Explaining the trend of declining demand for renting townhouses in the city center, economic experts said that the current business situation is more difficult than before, people tend to "tighten their belts" and control spending more strictly. |
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Nowadays, the trend of online business with the need of only a small enough space to operate is gradually being chosen by tenants rather than having to rent a large, expensive space in the center of Ho Chi Minh City. |
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| The premises with two frontages on Ly Tu Trong - Pasteur street (District 1) have also been "inactive" for a long time. |
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Many premises on Dong Khoi Street are similar. Although this route is close to shopping malls, 5-star hotels and entertainment venues for locals and tourists, more than 10 premises are covered with for-lease signs. |
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The rental price of premises on Dong Khoi Street is mostly over 100 million VND/m2 and the landlord only leases for 1 year. This street has the 13th most expensive rental price in the world, according to a survey by Cushman & Wakefield at the end of 2023. The rental price here also increased by 17% compared to the same period last year. |
Source: https://tienphong.vn/loat-mat-bang-vi-tri-vang-o-tphcm-cua-dong-then-cai-thanh-noi-rao-vat-post1682598.tpo
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