Hanoi’s old townhouses are sluggish

The old town area is always considered the “golden land” of the capital with expensive facades and a large number of tenants. However, over the past 2 years, due to the Covid-19 epidemic, this area has become desolate, lacking tenants. Although, Hanoi returned to the “new normal” state, reopening to tourists from March 15, the old town’s premises are still in a sluggish state.

Beautiful premises on Hang Cot street hang a sign to rent a house for a long time and still have not found a tenant

Notes of PV VietNamNetMany shops in the old town have reopened, but there are still many premises in beautiful locations that are still looking for tenants, hanging signs “house for rent” on Hang Ngang, Hang Ma, Hang Dao…

“Since the appearance of the COVID-19 epidemic, tourists have been sparse, international visitors are almost absent, while the premises are expensive, so it cannot be maintained. Up to now, there are not many tourists, so many people still do not dare to invest in the old town even though the price has decreased by 30-50%,” said a small trader on Hang Ngang Street.

Many houses are ready to rent or sell if someone needs to buy

“In the past, when this person ran out of rent, someone else jumped in to rent, until now, I receive many calls but only ask for the price, not rent,” said a property owner on Hang Ma Street.

Golden wallet on Hang Ma street waiting for tenants

The prime location right at the crossroads with two fronts on Hang Ma street is also suffering from sluggishness

Along Hang Gai Street is still gloomy, many establishments are closed continuously

While “land fever” is everywhere in many segments, the ground of the old town is still dull

Nice location for business at the intersection of Phung Hung – Hang Bong with wide frontage waiting for tenants

A series of premises with signs for rent over the past 2 years

According to many landlords, the rental price of the old town has decreased by 30-50%, but it is still sluggish

Hoai Nam