Recently, the rental market for commercial spaces has not been as vibrant as before, and the wave of businesses and shops returning leased premises continues unabated. Numerous properties with "For Rent" signs remain vacant for months without finding new tenants.
The streets of Tran Phu, Tran Huynh, Vo Thi Sau, Hoa Binh, Ba Trieu, and Ninh Binh (Bac Lieu City) are home to many prime locations suitable for businesses in the fashion , food and beverage, and beauty industries. However, landlords are currently facing declining income due to the waning demand for commercial space. Despite landlords easing contract terms to attract long-term tenants, the situation remains bleak. Furthermore, many are concerned about investing money during a period of stagnant purchasing power, struggling with bank interest rates, employee salaries, and taxes without sufficient customers, leading them to return leased spaces or seek cheaper alternatives. Another contributing factor is the growth of e-commerce, with people primarily purchasing goods online through social media platforms. Direct delivery from manufacturers to buyers significantly reduces costs compared to renting physical space. Therefore, many businesses and shops are giving up their physical premises and switching to online business to save costs.
“Previously, I rented a space on Nguyen Cong Toc Street (Ward 1, Bac Lieu City) to open a beauty spa. Every month, after deducting expenses for rent, electricity, water, and labor, there wasn't much profit left, and some months I even lost money. So I had to give up the rented space, open a spa at home, and increase advertising on social media, which helped stabilize my business,” shared Ms. Do Thi Thuy, the owner of a spa.
Many shops are returning their leased premises due to unprofitable business. Photo: TQ
Given the tightening of consumer spending and the boom in online shopping platforms, the rental market for commercial spaces is expected to continue to decline. To attract tenants, landlords need flexible strategies, upgrade and improve facilities, ensuring the space is fully equipped and suitable for modern business needs. In addition, they need to develop effective marketing strategies to promote their properties and offer attractive incentives to attract business tenants.
MINH LUAN
Source: https://www.baobaclieu.vn/thi-truong-tieu-dung/am-dam-mat-bang-cho-thue-99359.html
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