{"id":844,"date":"2026-05-08T18:29:44","date_gmt":"2026-05-08T09:29:44","guid":{"rendered":"https:\/\/india-marketing.jp\/vietnam-news\/hanoi-retail-exodus\/"},"modified":"2026-08-02T01:22:23","modified_gmt":"2026-08-01T16:22:23","slug":"hanoi-retail-exodus","status":"publish","type":"vietnam-news","link":"https:\/\/india-marketing.jp\/en\/vietnam-news\/hanoi-retail-exodus\/","title":{"rendered":"Stores disappear from Hanoi's shopping districts -- e-commerce boom drives a structural shift to 'vacant prime locations'"},"content":{"rendered":"
\nThis article is based on what we could verify As of August 1, 2026<\/strong> This article is based on public materials and news reports from Vietnam. Vietnam's tax system, regulations, and administrative divisions change frequently, so information here may have been updated since publication. For actual business decisions, please confirm the latest details with the relevant government authorities or local experts as primary sources.\n<\/div>\n\n\n

Stores are disappearing from Hanoi's shopping districts. More than 30 vacancies have appeared on prime streets such as Thai Ha, Kim Ma, and Nguyen Thai Hoc, once lined with fashion and dining outlets. Even with rents cut by up to 37%, no tenants are stepping in. The rapid growth of e-commerce and the rise of large shopping malls are structurally reshaping Vietnam's retail real estate.<\/p>\n\n

What's happening in Hanoi's shopping districts<\/h2>\n\n

More than 30 vacancies, rents down 13-37%<\/h3>\n

On Kim Ma and Nguyen Thai Hoc streets alone, at least 30 units are vacant. The average asking rent for townhouse-style storefronts has fallen 13-37% from its 2025 peak. According to data from the real estate portal Batdongsan, interest in residential housing in Hanoi has also declined 22% since the end of 2025.<\/p>\n\n

The case of Thai Hoang: monthly sales fell below rent<\/h3>\n

Thai Hoang, 39, ran a men's clothing store measuring 40 square meters with a 5-meter frontage on Thai Ha Street. The monthly rent was VND 35 million (approx. JPY 210,000). The landlord offered a 6% discount, but Thai Hoang chose to close up, saying 'there were months when sales didn't even cover the rent,' and shifted the inventory to online sales.<\/p>\n\n

Three drivers of the structural shift<\/h2>\n\n

1. Rapid growth of the e-commerce market<\/h3>\n

Vietnam's e-commerce market continues to expand at a pace of more than 20% a year. Shopee strengthens its Meta affiliate program<\/a> and competition among platforms is also intensifying. Consumers are accelerating 'showrooming' behavior, trying items on in physical stores and then buying online.<\/p>\n\n

2. The rise of large integrated malls<\/h3>\n

Mai Vo of CBRE Vietnam points out that 'consumer habits have changed significantly with the rise of e-commerce and integrated shopping malls.' The 'brand experience' function once expected of street-front stores has shifted to air-conditioned malls with parking.<\/p>\n\n

3. Regulation and aging properties<\/h3>\n

In addition to stricter crackdowns on sidewalk vending, townhouse-style properties are increasingly aging, making it harder to maintain brand image. Because these are structural issues, an economic recovery alone will not fill the vacancies.<\/p>\n\n\n\n\n
Area<\/th>Format<\/th>Rent changes<\/th>Status<\/th><\/tr>\n<\/thead>\n
Thai Ha Street<\/td>Fashion<\/td>Down 13-37%<\/td>Move-outs accelerating<\/td><\/tr>\n
Kim Ma Street<\/td>Fashion, dining<\/td>More than 30 units vacant<\/td>No tenants<\/td><\/tr>\n
Nguyen Thai Hoc Street<\/td>Fashion, dining<\/td>More than 30 units vacant<\/td>No tenants<\/td><\/tr>\n
Xuan Thuy \u2013 Cau Giay<\/td>Mixed use<\/td>Declining trend<\/td>Fewer new store openings<\/td><\/tr>\n<\/tbody>\n<\/table>\n\n

Market changes in data<\/h2>\n\n

Trends in rent and interest levels<\/h3>\n\n\n\n\n
Metric<\/th>Value<\/th>Currency conversion<\/th><\/tr>\n<\/thead>\n
Thai Hoang's monthly rent<\/td>VND 35 million<\/td>Approx. JPY 210,000 (1 USD \u2248 JPY 155, 1 USD \u2248 VND 26,300)<\/td><\/tr>\n
Decline in townhouse rents<\/td>13\u201337%<\/td>vs. 2025 peak<\/td><\/tr>\n
Decline in housing interest<\/td>Down 22%<\/td>vs. end of 2025 (Batdongsan)<\/td><\/tr>\n<\/tbody>\n<\/table>\n\n

Growth of Vietnam's e-commerce market<\/h3>\n

Vietnam's e-commerce market reached approximately USD 25 billion in 2025, ranking second in Southeast Asia after Indonesia. Grab expands its business through AI adoption<\/a> and other tech companies' infrastructure investments are further accelerating the shift in consumption away from physical stores.<\/p>\n\n\n\n

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