HCM City's Đồng Khởi Street Ranks Among World's Most Expensive Retail Areas
HCM City's luxury shopping district continues to dominate the Vietnamese retail market
According to Cushman & Wakefield's 34th Global Retail Avenues report, Đồng Khởi Street in HCM City remains the most expensive retail destination in Vietnam, ranking 14th globally. The report highlights that rents on this iconic street are US$330 per square meter per month, reflecting a 32% increase since the pre-pandemic period, although rents have dropped by 6% compared to last year due to fluctuations in the local currency against the US dollar.
Trang Bùi, country head of Cushman & Wakefield in Vietnam, explained that the luxury retail market in the country is growing rapidly, attracting a growing number of international brands. Đồng Khởi Street's prime location, close to high-end hotels and popular tourist spots, makes it an ideal spot for luxury brands seeking to enhance their image and reach affluent customers. Many top global brands have chosen to open stores here, benefiting from the street's high visibility and prestige.
In addition to Đồng Khởi, Tràng Tiền Street in Hà Nội also ranks among the top retail destinations, with rental rates of US$300 per square meter per month. The report also noted a slowdown in the growth of retail space supply in recent years, particularly in central areas, although demand for high-profile locations remains strong as retailers compete to create superior in-store experiences that drive customer engagement.
---
Trang Bùi, country head of Cushman & Wakefield in Vietnam, explained that the luxury retail market in the country is growing rapidly, attracting a growing number of international brands. Đồng Khởi Street's prime location, close to high-end hotels and popular tourist spots, makes it an ideal spot for luxury brands seeking to enhance their image and reach affluent customers. Many top global brands have chosen to open stores here, benefiting from the street's high visibility and prestige.
In addition to Đồng Khởi, Tràng Tiền Street in Hà Nội also ranks among the top retail destinations, with rental rates of US$300 per square meter per month. The report also noted a slowdown in the growth of retail space supply in recent years, particularly in central areas, although demand for high-profile locations remains strong as retailers compete to create superior in-store experiences that drive customer engagement.
---
