Shop, retail premises rent leap in HCMC

According to the report of Cushman & Wakefield, the supply of retail space in the HCMC realty market reflected a significant increase of 6.6 percent year-on-year, standing at roughly 1.26 million square meters in the third quarter of this year.

More people hired the retail space with the increase of 1 percent compared to the month before and 4 percent compared to the same period last year standing at 93 percent. Up to 90 percent of retail premises were hired by startup companies.
The Cushman & Wakefield said that fresh supplied resulted in new rent. Specifically, average rent in the third quarter leaped by 5.6 percent compared to the previous month and 7.4 percent compared to the same period last year standing at approximately VND 1.27 million ($54.5) per square meter monthly.
Most retail premises were hired to open food and beverage outlets. For instance, over 40 percent of food and beverage operators hired The Estella Place.
Additionally, international fashion brand names flooded in Vietnam with focus on average consumer. It is scheduled in 2019-2020, Decathlon and Uniqlo will open their first stores in Hanoi and HCMC.
As per Cushman & Wakefiel, stable economic growth is one of factors which helps retail sale maintain stable.

By VI QUAN - Translated by UYEN PHUONG

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