Retail real estate in HCMC still struggling

Retail real estate in Ho Chi Minh City has been unable to recover quickly as purchasing power remains weak and many businesses have closed or are still temporarily closed. Rentals for premises in the non-CBD area have fallen 10-20 per cent compared to last year. Vacancies in the first quarter of 2022 rose to 13.7 per cent, up 2 percentage points compared to the previous quarter.