Dong Khoi Street in downtown Ho Chi Minh City has once again been ranked among the world’s top 20 retail locations with the highest annual rents.
It placed 17th despite a 6% drop in rent to around US$3,700 per square meter per year, according to the Main Streets Across the World 2025 report by property consultancy Cushman & Wakefield, which examined headline rents in 141 prime urban locations worldwide.
Dong Khoi was one of only two Southeast Asian locations in the top 20, with the other being Singapore’s Orchard Road prime shopping strip at $5,100 per square meter.
Dong Khoi Street in Ho Chi Minh City, Vietnam. Photo by VnExpress/Thanh Nguyen |
In the Asia-Pacific ranking, another Vietnamese street also placed among the top 20—Hanoi’s Trang Tien & Hang Khay—with annual rents of $3,330 per square meter.
The report said global retail rents rose 4.2% in 2025, slightly below the 5% increase recorded in 2024 but still higher than global inflation. Retail rent growth in Asia-Pacific also moderated, easing from 2.8% to 2.1%.
Super-prime retail locations have continued to see robust rent growth and remain the most sought-after retail addresses despite heightened economic uncertainty, it said.
Dominic Brown, the report’s author and head of international research at Cushman & Wakefield, said the momentum is expected to strengthen as global conditions improve.
Globally, New Bond Street in London is the most expensive with rents of $23,603 per square meter, followed by Via Montenapoleone in Milan at $23,048.
Fifth Avenue in New York City placed third at $21,154 per square meter, while Hong Kong’s Tsim Sha Tsui ranked fourth with $16,020. Paris’ Avenue des Champs-Élysées rounded out the top five at $14,425.
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