Living safely with COVID-19, most industries are trying to revive from the aftermath of the pandemic, with retailers in Ho Chi Minh City seeking commercial spaces to run a new business after almost two years of hibernation.

Many vacancies at prime locations in busy districts of the southern city have found new tenants. 

The demand for retail spaces ranging from VND50-100 million (US$2,190-4,380) per month is picking up, according to a survey by Tuoi Tre (Youth) newspaper reporters, while that for properties starting from VND200 million ($8,760) per month remains sluggish.

Landlords are offering many favorable conditions, such as big rent reductions and low deposits, according to Nguyen Trong Nghia, a real estate broker in Ho Chi Minh City.

Nghia assessed that the retail market in the city is recovering, with new tenants seeking locations to run their catering, service, beauty, and pharmacy businesses.

This situation has marked a stark contrast to the coronavirus-related massive shutdowns that affected stores and malls for several months in 2021 and 2020.

Su Ngoc Khuong, senior director of real estate service provider Savills Vietnam, shared the same opinion with Nghia, adding that this is the time for tenants to enjoy affordable rents and more benefits when negotiating lease contracts. 

Below are photos taken by Tuoi Tre showing the revival at many commercial spaces in Ho Chi Minh City:

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