In Hanoi’s Ha Trung Street, a 9-story townhouse with an elevator and an area of 90m² is being listed for sale at 135 billion VND, equivalent to approximately 1.5 billion VND per square meter. According to real estate agents, this plot of land was previously vacant, has been fully developed by the new owner, and is ready for immediate use. This is considered a rare case in the Ha Trung real estate market.
Unlike other central old streets where townhouses are commonly listed for sale, properties on Ha Trung Street rarely appear on transaction platforms.
A survey of data from real estate websites shows that the number of listings for townhouses on Ha Trung Street is currently very limited, with common prices ranging from 30 to 60 billion VND for properties with an average area of 40-70m². Larger properties are typically listed at higher prices. Notably, almost no properties on this street are available for rent.
According to real estate agents, most property owners on Ha Trung Street are individuals or businesses directly involved in gold and foreign currency exchange, who tend to hold onto their properties long-term. Additionally, Ha Trung is a short street with a limited number of houses, making the already scarce supply even rarer and maintaining high property prices over time.
Ha Trung Street is home to numerous gold and currency exchange shops. Photo: D.Anh |
Gold and Currency Exchange Street
While Tran Nhan Tong Street is recognized as Hanoi’s official center for gold, silver, and gemstone trading, Ha Trung Street is densely packed with private businesses specializing in gold and foreign currency exchange, with unique transaction characteristics. This specialization makes the street unsuitable for many other types of businesses, creating a distinct customer ecosystem.
Ha Trung Street, approximately 206 meters long, is one of Hanoi’s oldest historic streets. Historically, it was a hub for the leather goods industry, with activities centered around the sale, production, and repair of shoes, bags, and leather accessories.
From the late 1990s, the street’s business activities began to shift significantly as gold and currency exchange shops increasingly appeared, gradually earning it the nickname “Gold and Currency Street.”
Today, only a few small traditional leather shops remain, while most of the street’s properties are used for trading gold bars, jewelry, and major foreign currencies. Due to the specialized nature of these businesses, the customer base and investors are primarily large enterprises and key players in the jewelry and currency sectors, sustaining high property prices over the long term.
A few traditional leather shops remain alongside gold shops. Photo: D.Anh |
According to Mr. Hoang Kim from Vua Mat Pho real estate, land prices on Ha Trung Street average around 800 million VND per square meter, excluding construction costs. This makes it one of the most expensive streets compared to neighboring areas, a result of its specialized business nature and the concentration of large-scale gold and currency exchange transactions.
Ha Trung is a short street with a narrow width, limited traffic flow, and frequent congestion. Historically, it was a craft street focused on the sale, production, and repair of leather goods, later expanding to small-scale services like clothing alterations and motorcycle seat repairs. However, over time, these traditional trades have declined in profitability.
Today, the street’s business structure has shifted significantly, primarily catering to gold and currency exchange activities.
Despite many properties being listed for sale, the high prices make the market selective. Buyers are mainly individuals and businesses already operating in the currency exchange sector, with some large owners holding 4-5 properties on the same street.
The core value of Ha Trung Street lies in its established business ecosystem, with a specific customer base and cash flow that is less dependent on general consumer trends. This is why, despite its less prominent infrastructure and limited business diversity, property prices on Ha Trung Street remain high over time, creating a unique and rare real estate segment in Hanoi’s Old Quarter.
Duy Anh
– 09:56 16/12/2025
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