Many prime real estate properties in Ho Chi Minh City have been vacant for a long time.

According to observations by reporters from the Nguoi Lao Dong newspaper, while the number of tourists traveling on the central streets of Ho Chi Minh City has increased significantly compared to a few months ago, business for shops along these streets remains very sluggish. The number of businesses closing down or returning leased premises is showing signs of increasing, not decreasing.

Despite being located on Le Loi Street (District 1, Ho Chi Minh City), a street approximately 550 meters long and one of the most beautiful in the city center, intersecting with "golden" streets such as Pasteur, Nam Ky Khoi Nghia, and Nguyen Hue, many commercial spaces remain vacant for months, and some have even been empty since the pandemic until now without tenants.

Observations reveal that there are currently over 20 vacant properties along this road. The facades of these houses are plastered with "For Rent" signs. Some signs, having been there for so long and exposed to constant sun and rain, are torn and smudged. Notably, while the signs all state "Owner," when contacted, the person on the other end of the line claims to be a real estate agent, not the actual owner.

A building on this street, with an area of ​​160m2 (1 ground floor and 7 upper floors), has been vacant for many months. According to real estate agents, the rent is around 220 million VND/month, with priority given to tenants opening a cosmetics showroom, spa, fashion store , etc. However, because the landlord requires a minimum deposit of 3 months and a contract of at least 5 years, potential tenants have all declined.

Similarly, the corner property with two street frontages on Le Loi and Nam Ky Khoi Nghia streets has also been vacant for several months after a gold company vacated the premises. This property has a total area of ​​225m2 (9m wide x 25m long), with one ground floor and one upper floor, and is being offered for rent at 290 million VND per month. Currently, the front area is being used as a parking and resting place for many ride-hailing motorbike drivers.

At the intersection of Ly Tu Trong and Truong Dinh streets, the premises currently have not found a tenant. According to real estate agents, the space is approximately 500 square meters (20 meters wide and 25 meters long), with one ground floor and three upper floors, and the rental price is 800 million VND per month. The contract must be for over 5 years. This space was previously a Japanese restaurant but closed during the pandemic.

On streets like Le Thanh Ton and Hai Ba Trung, there are an average of about 20 vacant commercial spaces. Other prime locations, such as at the intersection of Cach Mang Thang 8 and Nguyen Thi Minh Khai streets or at the Phu Dong Six-Way Intersection, also have "For Rent" signs.

A real estate agent said that because rents remain quite high, coupled with the economic downturn and people tightening their spending, shops are experiencing fewer customers. As a result, many shop owners cannot bear the costs and are forced to leave.

Source: https://nld.com.vn/kinh-te/nhieu-mat-bang-dac-dia-tai-tp-hcm-bo-trong-thoi-gian-dai-20231030151647554.htm