Downtown HCMC Retail Rents Reach New Heights

The second quarter saw minimum rents in downtown Ho Chi Minh City holding steady at $45 per square meter, according to Avison Young. However, high-end shopping centers like Saigon Centre and Vincom Center Dong Khoi are commanding rents between $200 and $250, with Times Square reaching up to $300.

Occupancy Rates Near Full in Prime Locations

Despite the steep prices, downtown areas boast nearly full occupancy, with rates at 96% in the city center and 86% elsewhere. CBRE notes only 5% of retail space remains vacant in central areas, slightly higher at 8% in non-central zones.

Global Brands Drive Rent Increases

David Jackson of Avison Young Vietnam attributes the rent surge to global brands like Starbucks and Uniqlo expanding their presence, with major malls maintaining 98-100% occupancy.

Consumer Experience Takes Center Stage

Retailers are focusing on enhancing customer experiences through innovative space design and integrated amenities, with fashion and F&B brands leading leasing activities.

New Retail Spaces and Strategies

With an influx of Chinese brands and developers restructuring layouts, HCMC is set to add 25,000 square meters of retail space, aiming to transform malls into comprehensive lifestyle destinations.