Saigon’s very own Đồng Khởi has once again made the list of world’s commercial streets with the highest annual rents.
Real estate service provider Cushman & Wakefield recently published the 2025 version of their Main Streets Across the World report, which compared the headline rents of 141 standout retail locations in major metropolises in the world.
As VnExpress reports, Đồng Khởi Street in downtown Hồ Chí Minh City claimed the 17th spot this year at US$346 per square foot (US$3,700 per square meter), amounting to a 6% year-on-year drop in rent.
This is not the first time Đồng Khởi has appeared in the report, having clinched No. 15 and No. 13 in 2024 and 2023, respectively. The central street’s consistent presence in the report is the result of a downtown commercial landscape that has remained at capacity for years, even though the rising middle class has brought about increased demand for flagship locations of brands.
At the top positions are London’s New Bond Street, followed by Via Montenapoleone (Milan) and Fifth Avenue (New York). A number of Asian streets also made the list, such as Tsim Sha Tsui in Hong Kong (No. 4), Ginza in Tokyo (No. 6), and Myeongdong in Seoul (No. 9).
Spanning from the HCMC Opera House to the edge of Saigon River Promenade, Đồng Khởi is one of the city’s oldest thoroughfares, having been around since the French’s earliest urban planning efforts. It was first named rue 16, then renamed rue Catinat in 1865, Tự Do Street in 1955, and finally Đồng Khởi in 1975.
Đồng Khởi cuts through HCMC’s downtown area, surrounded by many luxury hotels and historic structures, making it the ideal location for major brands and companies to establish an official presence. However, in recent years and especially after the COVID-19 pandemic, high rents and waning foot traffic have led to an exodus of tenants on Đồng Khởi, whose occupancy rate hasn’t quite fully recovered.
Photo via Expedia.
