ASEAN, Asia, Countries, Flash, Governance, Macroeconomics, Vietnam

Protected: Hanoi, HCMC in Top 50 Most Expensive Cities in Asia

This content is password protected. To view it please enter your password below:

(more…)

*** REGISTERED SERVICE USER CONTENT ***

This article is privileged and intended for registered service users. Vietnamica’s current member please login.

For normal subscriber our policy is to charge an annual fee of US$45.

For service inquiry please email to info@vietnamica.net

Existing Users Log In
 Remember Me  

(Visited 53 times, 1 visits today)

3 Responses to Protected: Hanoi, HCMC in Top 50 Most Expensive Cities in Asia

  1. WLK on June 11, 2013 at 8:19 PM

    Cost Of Living Going Up And Up

    The other day, I dropped by one of my old favourite coffee outlet for a cupper and toast. I have not patronized the shop for quite some time since I moved to another part of the town.

    I liked the joint because it was set up along the corridor of an old charming suburban shopping mall. Spacious and airy. Those wooden tables and stools arranged along the wide shady corridor pathway are nature friendly and comfortable , unblocking view of passing traffics and leisurely passerby add to the fun and mood. But most importantly, the tea and toast are cheap. A cup of coffee and slice of toast with butter and kaya, cost a fraction of what is sold by the branded Starbucks Coffee just next door inside the mall. (Anyway, they don’t sell toast but pastries). I was surprised as the coffee shop owner has changed. The price also nearly double!

    I knew the previous owner so I called him. He told me the rent has gone up and he decided to pack and quit. He told me initially the rent was $2500/month for the first 2 years, because no one dared to start a coffee shop next to the well-established Starbucks. Landlord persuaded him to try and he agreed. The business boomed. Subsequent 2- year contract was $4000/month, he still enjoyed good return. The third contract was $6000/month, he still managed to make good profits. On the seven year his 4th contract, the landlord demanded a sky- high rental of $29,500/month. He wanted to negotiate by was flatly rejected by the landlord. Landlord told him someone had already agreed to this price! But priority would be given to him if he is agreeable to the new rent. My friend knew the price was too stiff to sell ordinary coffee and he decided to quit.

    Last week I read a special feature on the Sunday News Paper, Brides take flight. Many Singaporean brides-to-be are flying to Guangzhou, Bangkok or Hong Kong to shop for their bridal gowns and wedding dresses. They find these cities offer much lower prices, better choices and of good quality too. Some said after spent on air tickets and hotels overseas, they still save thousands of dollars. Some Indian brides-to-be are heading to India to shop and got some very good deals for their money too.

    I understand it is extremely high cost in hotels, housing and apartments for rent in Yangon for businessmen and expatriates.

    So, I am not surprised HCM and Hanoi also want to emulate the other cities to jack up the prices to compete with them. It is very sad indeed.

    By WLK

    • Observateur on June 11, 2013 at 10:00 PM

      Can’t agree more with you WLK. If the price tag represents their “pride”, they should have become the too proud cities. Unfortunately a rational person would not want to see the pride jeopardizes the life.

  2. Observateur on June 10, 2013 at 4:44 PM

    OMG. Now a poor and less developed economy is labelled “Expensive”?

Leave a Reply

  • » US-Japan-Australia Security Cooperation: Prospects and Challenges - Foreword by Ellen Laipson
  • » Implementing IFRS for SMEs: Challenges for Developing Economies
  • » Vietnam Economic Highlights: 4 May 2015
  • » Current Situations and Solutions for Renewable Energy Development in Vietnam
  • » Service Quality and Customer Satisfaction: A Case Study of Hotel Industry in Vietnam
  • » Socio-economic Impact of Rural Credit in Northern Vietnam: Does It Differ between Clients Belonging to the Ethnic Majority and the Minorities?
  • » Threshold in the Relationship between Inflation and Economic Growth: Empirical Evidence in Vietnam
  • » Disordered Eating Behaviors in University Students in Hanoi, Vietnam