Real Estate

Hàng Mã Townhouse Prices Surpass $1 Billion/m², 20m² Units Rent for $45 Million/Month

In the bustling heart of Hanoi's Old Quarter, Hang Ma Street stands as a testament to the city's thriving commerce. Property values and rental rates continue to soar, with multi-story buildings reaching up to $50,000 per square meter. Even compact kiosks, spanning mere dozens of square feet, remain in high demand, fully occupied by eager businesses.

Administrator

2 December, 2025

Hàng Mã Street (formerly part of Hàng Mã Ward, Hoàn Kiếm District, now under Hoàn Kiếm Ward) stretches approximately 339 meters, located about 1 kilometer south of Đồng Xuân Market and 700 meters north of Hoan Kiem Lake. It stands as one of Hanoi’s bustling ancient commercial streets, renowned for traditional goods such as paper offerings, paper crafts, and children’s toys.

Ahead of festivals, numerous shops along the street transform with vibrant, eye-catching decorations—from Mid-Autumn lanterns and Christmas trees to the pervasive red hues of Lunar New Year. The radiant lights from lantern shops, festive decor, and celebratory colors create a captivating scene, drawing both tourists and locals eager to capture the moment.

As evening falls and the street glows with brilliance, visitor numbers surge, cementing Hàng Mã as a premier shopping and photo destination in the capital.

Hàng Mã Street, a historic commercial hub in Hanoi. Photo: D.A

Surveys reveal that shops on Hàng Mã Street typify the Old Quarter’s charm with their compact size, narrow layouts, and close proximity. Most spaces are maximized for display, often extending goods onto the sidewalk to attract passersby.

The high density of businesses keeps the area perpetually lively, underscoring the “prime real estate” nature of central Hanoi. Rental and sales listings for properties on Hàng Mã Street remain scarce.

Small shops ranging from 20–35 square meters typically rent for 25–45 million VND/month, with rates climbing 30–50% during peak festival seasons. Medium-sized spaces of 50–80 square meters fetch 50–80 million VND/month, while larger properties over 100 square meters command 100–180 million VND/month or more.

In an interview, Mr. Hoàng Kim (from Vua mặt phố channel) noted that Hàng Mã’s street-front properties average around 800 million VND/square meter (excluding asset value). Prices vary based on frontage and feng shui considerations.

Prices have risen; two months ago, the average was 770 million VND/square meter. Some 5–6 story buildings with elevators and wide frontages now reach 1–1.2 billion VND/square meter.

Christmas season trading on Hàng Mã Street. Photo: D.A

A 4-story, 45-square-meter property on Hàng Mã Street is listed at 42 billion VND (over 900 million VND/square meter). Its prime location and high commercial density make it ideal for various business ventures or leasing opportunities.

Homes in alleys, typically accessed via 3–5 meter lanes, are priced lower than street-front properties but remain expensive relative to the broader market, ranging from 150–500 million VND/square meter.

Despite steep property prices, Hàng Mã remains a pivotal commercial hub. High profits from seasonal goods, coupled with year-round tourist appeal, sustain its attractive investment returns.

Shops here see revenue triple during Mid-Autumn, Christmas, and Lunar New Year. Even small 20–30 square meter kiosks achieve significant sales during peak seasons. Wealthy investors often acquire central properties like those on Hàng Mã to maximize returns and ensure steady cash flow.

Urban renewal efforts are underway on Hàng Mã Street. Overhanging canopies and decorative encroachments have been removed, restoring clean, pedestrian-friendly sidewalks. Experts predict continued growth in the Old Quarter’s real estate market, including Hàng Mã.

Duy Anh

– 06:00 01/12/2025