HCMC – Retail rents on Dong Khoi Street in HCMC fell 6% over the past year to US$3,711 per square meter, but the downtown street still ranked 17th among the world’s most expensive retail locations, said Cushman & Wakefield.
The ranking was published in the consultancy’s “Main Streets Across the World 2025” report.
The decline pushed Dong Khoi down from 15th place in 2024 and 14th in 2023. Within the Asia-Pacific region, it ranked 16th.
In Hanoi, the Trang Tien–Hang Khay area recorded rents of US$3,350 per square meter per year, down 7%. That marked the steepest drop in Asia-Pacific in the survey. The area ranked 18th in the region.
The report showed Vietnam’s retail rents moved against the broader global trend. Worldwide rental growth slowed to 4.2% in 2025 from 5% in 2024. Some 58% of markets surveyed posted increases, 16% declined and the rest were unchanged.
New Bond Street in London topped the global list at about US$24,000 per square meter per year, up 22%, overtaking Via Montenapoleone in Milan and Fifth Avenue in New York.
By region, rents rose 7.9% in the Americas, 4% in Europe and 2.1% in Asia-Pacific.
Hoang Nguyet Minh, general director of Cushman & Wakefield Vietnam, attributed rising rents in prime malls and luxury hotel podiums in central Hanoi, up about 4% year-on-year, to limited supply and expansion by brands from France, Italy and South Korea.
The report cited economic and geopolitical factors and changing shopping behavior as reasons for Vietnam’s rental correction.
