Shophouse rentals skyrocket in downtown HCMC

By Vu Le   December 31, 2019 | 10:57 pm PT
Shophouse rentals skyrocket in downtown HCMC
Shophouses in downtown Ho Chi Minh City. Photo by VnExpress/Vu Le.
Rents for shophouses in downtown Ho Chi Minh City have increased by 35 percent in 2019, according to real estate portal

However, shophouse prices in central District 1 have only increased by 10 percent it said in a report based on statistics compiled from online property floors.

In District 10 there has been a 13 percent increase in prices but 20 percent increase in rents in the last 12 months. Phu Nhuan, Tan Binh and Binh Thanh districts also saw a similar trend with rents increasing by 12-15 percent.

This trend of rents increasing at a faster rate is unique to shophouses, with the opposite being true for the rest of the real estate market. In fact, the apartment segment even experiences decreases in rents due to competition.

The report also said shophouses cost more to buy than villas and townhouses with an average price of VND161 million ($7,000) per square meter in Q4.

The most sought-after shophouses are those in the VND100-200 million ($4,310-8,620) price range and measuring 70-90 square meters.

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