Located in the center of HCMC, Bui Vien Walking Street (often called Bui Vien backpacker area) has been one of the city's most bustling areas for services, tourism, and entertainment for many years.

The area is not large, covering Bui Vien Street and parts of adjacent roads, yet it attracts both domestic travelers and a significant number of international tourists.

In the evening, when Bui Vien lights up, visitors flock to eat, drink, and enjoy the nightlife. On weekends, various outdoor shows, cultural events, and performances turn the area into a symbol of the city’s night scene.

As a service-oriented and entertainment neighborhood, most shophouses along Bui Vien have been converted into mini-hotels, bars, restaurants, or short-term rental properties. Owners typically live at the back or on the top floors.

As an old residential area inside a busy district, many homes here are extremely narrow. Some families with up to 10 members live in houses of only 16 sqm.

Thanks to its prime location, property prices on Bui Vien Street have always ranked among the highest in central HCMC. According to Hai, a broker specializing in shophouses along Bui Vien, prices have increased by 5–7 percent compared to last year.

Most properties are 2–5 stories high. Homes in the alleys typically range from 20–25 sqm, while those on main frontages are larger, from 40–70 sqm, suitable for retail premises and business operations.

Hai noted that selling prices vary widely depending on size and location. Most listings are currently tenant-occupied and used as retail shops or hotels.

“Average selling prices range VND500–600 million per sqm. Some prime locations are even listed at more than VND1 billion per sqm,” he said. He added that he is currently marketing a 5-story house on a 57 sqm plot for VND60 billion.

Rental prices are also high. The same 5-story property is leased for VND210 million per month, while another 3-story house on the same street is being rented for VND75 million per month.

Even with their cramped layout, these properties both on the main street and deep in the alleys are priced at strikingly high levels.

Linh, another broker, is marketing a home of less than 13 sqm in a small alley on Do Quang Dau Street in Ben Thanh Ward, just a few dozen meters from Bui Vien. The owner is asking VND2 billion, equivalent to around VND150 million per sqm.

A 4-story house on a 21 sqm plot in an alley off Bui Vien is being offered at VND6 billion; and a 3-story house of nearly 35 sqm on Bui Vien frontage is listed at VND12 billion VND.

Duy Anh