Pessimistic outlook ahead of Ho Chi Minh City’s rental market

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A large number of billboards offering premises for rent can now be found on many streets in the centre of Ho Chi Minh City, including Dong Khoi, Ly Tu Trong, and Le Thanh Ton streets.

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At the famous Ben Thanh market in the heart of District 1, many kiosks have been left empty for a long time.

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Houses for rent on streets around Ben Thanh market have failed to attract any potential customers for several months.

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A trader says that people are trying to save money following the COVID-19 pandemic, meaning that trading activities have fallen quiet in recent times, particularly as businesses have no plans to rent their premises out.

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Some traders choose to rent premises in the suburban area with lower prices, thereby helping them to save money and take advantage of the current situation.

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A trader shares that she had rented a store at Ben Thanh market costing VND200 million per month in 2019. Now she is able to rent a small premise in an alley at a price ten times lower than before.