Phu My Hung shophouses are one of the few commercial property types in PMH urban area, District 7, Ho Chi Minh City, with prices ranging from VND 76 million to VND 240 million per m² depending on the project location, permanent ownership with a pink book and dual earning potential from rental income and asset appreciation. In particular, this property type accounts for less than 5% of the urban area’s total 20,000 residential properties, creating sustainable scarcity that few other property types can match. More importantly, this is the first time in nearly 10 years that the PMH developer has launched a large number of shophouses, creating a rare opportunity for investors who wish to buy directly from the developer at the original price with optimal financial support policies.
Prices vary across the Phú Mỹ Hưng shophouses currently on sale: The Horizon and Cardinal Court are in the high-end segment, at VND 190–240 million/m²; The Panorama, Grand View and Scenic Valley 2 are in the mid-range segment, at VND 100–120 million/m²; and Riverside Residence and Hưng Phúc Premier range from VND 76–150 million/m². In addition, payment terms are highly flexible: investors need to pay only a 20% deposit to sign the sale and purchase agreement, while a bank loan can cover 70% of the remaining amount at 0% interest, with principal repayments deferred until handover.
In terms of legal status, all Phú Mỹ Hưng shophouses have pink books granting permanent, long-term ownership, unlike condotel shophouses, which are limited to 50 years. This means investors can mortgage their property without limits on the number of times, resell it, pass it on by inheritance and freely register a company legal entity. Moreover, all purchases and sales are conducted directly with developer Phú Mỹ Hưng, with support from 3 major state-owned banks—BIDV, Vietinbank and Vietcombank—ensuring transparency from the outset.
The following sections take an in-depth look at each project, actual prices on individual streets, the full legal process and specific profit potential under different investment strategies, giving investors the information they need to make the most accurate and confident decisions.
Project Overview
WHAT ARE PHÚ MỸ HƯNG SHOPHOUSES AND WHICH TYPES ARE CURRENTLY ON SALE?
Phú Mỹ Hưng shophouses are commercial properties combining business use and investment, built on the ground floor and first floor of luxury apartment projects or along the frontages of commercial streets in the PMH urban area in District 7, HCMC, master-planned with international-standard infrastructure. Unlike freestanding shophouses scattered across the inner city, PMH shophouses sit within an urban ecosystem professionally managed by the developer, ensuring landscape quality, security and stable customer footfall all year round.
Let us explore in detail each location group and shophouse type currently on sale so investors can see the full picture of the range.
Where in Phú Mỹ Hưng Are Shophouses Located?
There are 4 main location clusters based on commercial street and business advantage: Nguyen Luong Bang Boulevard, Ton Dat Tien Boulevard (Canal District), Nguyen Duc Canh Boulevard and the Crescent Lake (Crescent) area. Each location offers distinct business advantages and customer profiles, directly affecting rental prices and price growth.
Specifically, the characteristics of each commercial boulevard are as follows:
Nguyen Luong Bang Boulevard is PMH’s busiest financial and service boulevard with a 48m road reserve including 6 lanes, 8m-wide pavements and a 2m building setback. Along this boulevard are many large commercial, financial and office developments such as the SECC International Exhibition and Convention Centre. Typical shophouses on this boulevard include Riverside Residence, Hung Phuc Premier and Scenic Valley 2, suited to businesspeople, professionals and senior office staff.
Ton Dat Tien Boulevard (Canal District) is master-planned to evoke the canal districts of the US, creating a distinctive landscape that attracts local residents and visiting tourists. It is PMH’s busiest food, beverage and entertainment street with heavy footfall day and night. Shophouses on this boulevard include Garden Plaza 1, Garden Plaza 2, Garden Court 1, Garden Court 2 and Urban Hill, ideal for F&B, entertainment and high-end retail.
Nguyen Duc Canh Boulevard connects the luxury residential area with the PMH international commercial centre, ensuring a stable resident customer base. Typical shophouses are The Panorama and The Grand View, suitable for clinics, training centres, and health and beauty service chains.
The Crescent Lake (Crescent) area is the latest hotspot with The Horizon and Cardinal Court fronting Tran Van Tra Street, just 3 minutes from Crescent Mall and VivoCity, benefiting from Fulbright University and Tam Anh Hospital under development in the area.
What Sizes and Designs of Phú Mỹ Hưng Shophouses Are Available?
There are 3 main size groups by usage need: Group S from 68 to 130m², Group M from 130 to 300m² and Group L from 300 to 550m², suiting a wide range of business models from cafés and small clinics to large supermarkets and showrooms.
In more detail on the characteristics of each size group:
Group S (68–130m²) suits cafés, fashion shops, dental clinics, small language centres, nail salons and beauty services. The common configuration is ground floor + upper floor, with 5 to 7m frontages, with some units having a separate private garden of around 39m². This is the group with the lowest entry capital, suitable for investors approaching PMH shophouses for the first time.
Group M (130–300m²) is ideal for restaurants, gyms, furniture showrooms, mini supermarkets and integrated service centres. The configuration is ground floor + upper floor or ground floor + mezzanine, with 8 to 12m frontages. Many corner units have dual frontages, offering superior brand visibility and customer access from multiple directions.
Group L (300–550m²) is for supermarkets, large F&B chains, training centres, exhibition spaces and car showrooms. Some units at Garden Plaza 1 and The Panorama allow front-to-back connectivity, creating seamless retail space of up to 550m², very rare within the urban area.
In terms of overall design, all PMH shophouses have clear floor-to-ceiling heights of over 4m, efficient square layouts that are easy to fit out, generous parking along the commercial streets and full technical infrastructure connections (3-phase electricity, water supply and drainage, telecommunications).
How Many Shophouses Is the Phú Mỹ Hưng Developer Currently Offering for Sale?
Yes, but in very limited numbers. Phú Mỹ Hưng shophouses account for less than 5% of the 20,000 homes across the urban area, equivalent to around 1,000 units, and this is the first time in almost 10 years that the PMH developer has offered for sale the largest volume to date.
In particular, in the current launch, the PMH developer is offering around 40 shophouse properties across various projects including Riverside Residence, The Grand View, The Panorama, Hung Phuc Premier, The Horizon and Cardinal Court. This number is equivalent to just 0.5% of the properties in the urban area, reflecting the true “rare stock” nature of this segment. More importantly, as the developer usually retains shophouses for its own leasing operation rather than offering them for sale, each sales launch is the only opportunity in many years for outside investors to enter this segment with the most transparent legal title and original pricing.
Price list
LATEST PHÚ MỸ HƯNG SHOPHOUSE PRICES BY PROJECT
Phú Mỹ Hưng shophouse prices range from VND 76 million/m² to VND 240 million/m², divided into 3 price groups corresponding to 3 location segments: the premium segment (The Horizon, Cardinal Court), the mid-range segment (Panorama, Grand View, Scenic Valley 2) and the entry segment (Riverside Residence, Hung Phuc Premier).
Below is a breakdown by project to give investors a basis for comparison and selection to suit their budgets.
How Much Are The Horizon and Cardinal Court Phú Mỹ Hưng Shophouses?
The Horizon stands out for its “diamond” location at Crescent Lake; Cardinal Court is optimised for the commercial advantages of the international financial centre. Both are on sale at VND 190 to 240 million/m², the highest segment in the current PMH shophouse portfolio.
Specifically on the specifications and advantages of each project:
Shophouse The Horizon (CR8-3):
- Location: Fronting Tran Van Tra Street, next to Crescent Lake and Anh Sao Bridge, District 7
- Area: From 239m² (1 ground floor + 1 upper floor), with a separate private garden
- Price: From VND 190 to 240 million/m²
- Special advantages: Corner shophouse with dual frontages onto Tran Van Tra Street and Pham Van Chuong Street; just 3 minutes from Crescent Mall and VivoCity; benefiting directly from Tam Anh Hospital (planned for over 1,000 beds), Fulbright University and the new Culture and Arts Exhibition Centre under development in the area
Shophouse Cardinal Court (C13B):
- Location: Right in the PMH international financial and commercial centre, home to many multinational corporate offices
- Area: From 154m² (ground floor + upper floor)
- Price: From VND 190 to 240 million/m²
- Advantages: High-quality customer base of businesspeople and international professionals; heavy and stable footfall all year round as it lies in the area with the highest office density in PMH
How Much Are Panorama, Grand View and Scenic Valley 2 Shophouses?
Panorama stands out for the most diverse size range (128–547m²); Grand View offers the most reasonable price per m² in the segment; Scenic Valley 2 is optimised for the advantages of the healthcare ecosystem. All 3 projects are on sale from VND 100 to 120 million/m², suitable for investors approaching PMH shophouses for the first time.
The table below summarises detailed specifications and compares the 3 projects by location, size and price, helping investors quickly identify the right choice:
| Project | Position | Area | Price | Key features |
| The Panorama | Frontage on Tôn Dật Tiên & Nguyễn Đức Cảnh | 128–547m² | From VND 100 million/m² | The widest range of floor areas, with many units featuring a 39m² garden |
| The Grand View | Frontage on Nguyễn Đức Cảnh | 68–220m² | From VND 100–110 million/m² | Lowest price per m² in the group; currently leased to a clinic and a yoga centre |
| Scenic Valley 2 | Next to FV Hospital | 80–200m² | From VND 100–120 million/m² | Benefits from the healthcare and health services ecosystem |
However, investors should note that some units at The Grand View are on the second floor and may find it harder to attract passing foot traffic than ground-floor units. Therefore, check each unit’s floor and actual frontage carefully before making a decision.
Notably, The Panorama has the highest number of international brands on long-term leases, including Starbucks Coffee, Highlands Coffee, Citimart supermarket and several other well-known F&B brands. This is the clearest evidence of the location’s outstanding commercial value.
What Payment Incentives Are Available for Phú Mỹ Hưng Shophouses?
PMH, the developer, offers 2 payment options with 3 key incentives: pay 20% on signing the sale and purchase agreement; borrow 70% from a bank at 0% interest, with principal repayments deferred until handover; or receive a special discount by paying 100% upfront.
Details of each option:
Option 1: Pay in instalments (suitable for most investors)
- 1st instalment: Pay 20% of the value to sign the official sale and purchase agreement with the PMH developer
- From the second instalment onwards: The bank provides a 70% loan at 0% interest, with no principal or interest payments due until the shophouse is handed over
- Participating banks: BIDV, Vietinbank and Vietcombank (Vietnam’s 3 leading reputable state-owned commercial banks)
- Payments are spread out until December 2026
Option 2: Pay 100% upfront (suitable for investors who want to take possession of the shophouse immediately)
- Pay the full 100% to receive a special discount from the developer
- Take early handover to start operating the business or renting out the property immediately, optimising cash flow
- This is the best option for investors who already have funds available and want to start renting out the property as soon as possible
More importantly, investors buying directly from PMH, the developer, are given priority to select the best units, can sign the sale and purchase agreement from the first release and receive ongoing support from the developer’s sales department, from paying the deposit until the ownership certificate is issued.
How Are Phú Mỹ Hưng Shophouse Prices on the Secondary Market?
Prices of PMH shophouses on the secondary market are consistently 20% to 50% higher than the original prices from the developer, reflecting the properties’ scarcity and sustained market demand.
Below are some indicative prices for actual secondary-market transactions at present:
| Project | Area | Secondary-market sale price | Notes |
| Sky Garden shophouse (Nguyễn Văn Linh) | 104m² | VND 12.8 billion | Currently rented out |
| Mỹ An shophouse (Nguyễn Cao) | Unknown | VND 17.5 billion | Street-front location |
| Hưng Vượng 1 shophouse (Nguyễn Văn Linh) | 170m² | VND 16 billion | Negotiable |
| Garden Plaza 1 shophouse (Tôn Dật Tiên) | 265,98m² | From VND 50 billion | Corner unit with 2 frontages |
| Grand View shophouse (Nguyễn Đức Cảnh) | From 154m² | From VND 23.5 billion | Full ownership certificate |
(The table above summarises indicative secondary-market prices for PMH shophouses, helping investors compare them with the developer’s original prices and assess potential profit margins)
According to data from Batdongsan.com.vn, investors should check the safe price range and historical price movements before making a resale transaction. They should also carefully verify the legal status (pink book, current lease agreement and any history of disputes) and the actual liquidity of each individual shophouse.
IS THE LEGAL STATUS OF PHÚ MỸ HƯNG SHOPHOUSES SECURE?
Yes. The legal status of Phú Mỹ Hưng shophouses is fully secure, with 3 key features: a pink book granting permanent ownership, a sale and purchase contract signed directly with a reputable developer with 30 years of experience, and approval from state-owned banks for mortgages of up to 70% of the property’s value. This is their greatest legal advantage over most shophouses currently on the Ho Chi Minh City market.
Let’s explore each important legal aspect investors need to understand before committing their funds.
Do Phú Mỹ Hưng Shophouses Have Pink Books Granting Permanent Ownership?
Yes. 100% of Phú Mỹ Hưng shophouses launched for sale by the developer come with pink books granting permanent ownership, with no 50-year limit like condotel shophouses or those in commercial hotel buildings. This is a fundamental difference that directly affects the property’s value, financing options and long-term liquidity.
Specifically, the two types of legal status differ as follows:
PMH shophouses with permanent pink books:
- Can be mortgaged with a bank an unlimited number of times throughout the ownership period
- Can be freely transferred, gifted or inherited under the current Housing Law and Land Law
- Can be registered for business use and used as a company’s registered address
- Banks value them in line with actual market prices, making it easier to obtain financing
- The property’s value is preserved and grows over time, without depreciation for legal reasons
Condotel or commercial hotel shophouses (50-year term):
- Must be renewed after 50 years, with no certainty that the authorities will approve an extension
- Banks may be reluctant to lend, or may value them 20 to 40% below the market price
- Considerably lower resale liquidity because prospective buyers are concerned about legal risks
- Cannot be used to register permanent residence or as a company’s registered address
Moreover, with the 2023 Law on Real Estate Business and the 2024 Land Law now in effect, properties with clear legal status, such as PMH shophouses, are increasingly valued by investors and financial institutions. This creates a lasting competitive advantage when they need to be resold or used to raise capital.
What Are the Steps for Buying a Shophouse Directly from Phú Mỹ Hưng, the Developer?
Buying a PMH shophouse directly from the developer involves 4 main steps: placing a booking, signing the sale and purchase contract, making payments according to the schedule, and taking handover with the pink book. The developer’s sales department and partner banks provide professional support throughout the process to ensure transparency and keep everything on schedule.
Here are the steps in detail:
Step 1: Place a Booking (Booking Deposit Converted into a Good-Faith Deposit)
- Contact the PMH developer’s sales department hotline for advice and to view the current available units
- Choose a shophouse that suits your preferred location, floor area and budget
- Pay a good-faith deposit (usually VND 50 to 100 million) to reserve the right to choose a unit
- Documents required: ID card or citizen identity card, and a marriage certificate if buying jointly with your spouse
Step 2: Sign the Sale and Purchase Contract (SPA)
- After paying the first instalment (20% of the shophouse’s value)
- Sign the sale and purchase contract directly with Phu My Hung Development Corporation
- Apply for a bank loan if choosing a payment option with financing support
Step 3: Pay According to the Schedule
- Make payments according to the schedule set out in the SPA
- The bank disburses the 70% loan portion when requested by the developer
- No principal or interest payments are required throughout the waiting period before handover
Step 4: Take Handover and Obtain the Pink Book
- Take handover of the shophouse once the project is complete and has passed acceptance testing
- PMH, the developer, assists with the application for the certificate of ownership (pink book)
- The pink book is usually issued 6 to 12 months after handover
- Once the pink book has been issued, investors are free to mortgage, lease or transfer the property without the developer’s permission
Important note when buying through a brokerage: Always reconfirm the selling price, policies and available units directly with the developer’s sales department via its official hotline before signing any document. This helps avoid buying a resold booking at a price above the original price.
HOW PROFITABLE ARE PHÚ MỸ HƯNG SHOPHOUSES?
Phú Mỹ Hưng shophouses offer 2 simultaneous income streams: stable passive monthly rental income of VND 40 to 300 million, depending on location and floor area; and sustainable long-term property price growth of 8 to 15% per year. This is the “dual-income” model that PMH, the developer, positions as the most sustainable wealth-building option in its property portfolio.
Let’s explore each income stream and its specific figures to help investors assess their financial expectations before making a decision.
What Are the Current Rental Prices for Phú Mỹ Hưng Shophouses?
Current PMH shophouse rents range from VND 40 million to VND 300 million per month, depending on 4 determining factors: road, floor area, floor and tenant brand, delivering an estimated gross rental yield of 4% to 8% per year.
The table below summarises indicative rental prices for each road in PMH, helping investors estimate their monthly passive cash flow before making a decision:
| Route | Reference floor area | Monthly rent | Tenant profile |
| Ton Dat Tien (Canal) | 200–265m² | VND 150–300 million | F&B chains, supermarkets, shopping centres |
| Nguyen Luong Bang | 130–200m² | VND 80–150 million | Banks, offices, retail chains |
| Nguyen Duc Canh | 100–150m² | VND 50–100 million | Clinics, yoga studios, F&B chains |
| Tran Van Tra (Crescent Lake) | 240m² | VND 120–200 million | Restaurants, high-end showrooms |
More specifically, the international and domestic brands currently taking long-term leases in PMH shophouses include Starbucks Coffee, Highlands Coffee, Citimart supermarkets, Everest Education, Song De, Danish furniture retailer JYSK, as well as numerous general clinics and high-end yoga centres. The presence of these major brands not only ensures stable cash flow but also attracts quality customers, enhancing the commercial value and image of the entire street.
Do Phu My Hung Shophouses Come with Existing Tenancy Agreements?
Yes, many PMH shophouses in the current launch already have long-term tenancy agreements with reputable brands and are ready to transfer all associated benefits to new buyers. This means investors receive rental income from the first day of handover without having to spend time finding tenants.
This is an extremely important advantage for 3 practical reasons:
Reason 1: Completely eliminates the risk of vacancy Normally, a new shophouse needs 3 to 6 months to find a suitable tenant, negotiate the rent and complete the interior fit-out according to the tenant’s requirements. A shophouse with an existing tenancy agreement allows investors to skip this entire stage and receive income immediately.
Reason 2: Confirms the property’s actual market value An active tenancy agreement with a recognised brand is the most objective and persuasive evidence of the property’s earning potential and actual rental value, helping investors price it accurately and make their purchasing decision with greater confidence.
Reason 3: Increases value upon resale Shophouses with tenancy agreements from reputable brands are typically valued 15% to 30% higher than comparable vacant units in the same location and of the same size, because the next buyer also avoids the initial set-up period and the risk of vacancy.
Important note when assessing a tenancy agreement: investors need to carefully check 3 factors: the remaining term of the agreement (how many years remain until expiry), the rent (whether it is in line with the market or significantly below it), and the agreement’s assignment clause (whether the tenant’s consent is required).
How Have Phu My Hung Shophouses Increased in Value Over the Years?
Phu My Hung shophouses have recorded sustainable long-term price growth of 8% to 15% per year, outperforming average inflation and savings interest rates, thanks to the combined effect of 3 factors: extremely limited supply, continuously rising rental demand from residents and businesses, and the ongoing upgrading of the urban area’s infrastructure.
Specifically, the factors driving medium- and long-term price growth include:
Transport infrastructure: The underpasses at Nguyen Van Linh and Nguyen Huu Tho have officially opened to traffic, significantly shortening travel times from PMH to central Ho Chi Minh City. Metro Line 4, connecting District 7 with the central districts, is currently under development and is expected to substantially increase customer traffic and lift property prices in the area to a new level.
High-end social infrastructure: The 1,000-plus-bed Tam Anh Hospital currently under development in the area will attract thousands of patients, carers and medical staff every day. The new Cultural and Arts Exhibition Centre and the presence of Fulbright University (one of the most reputable private universities in Vietnam today) will create additional diverse, high-quality customer sources for shophouses in the area.
Strategic position in Ho Chi Minh City’s urban planning: Phu My Hung is a pioneer urban area in Ho Chi Minh City’s southward expansion plan, connecting the southern key economic triangle of Ho Chi Minh City, Dong Nai and Ba Ria–Vung Tau. The Phu My Hung Harmonie project in Binh Duong was “sold out” with nearly 100% of its available units reserved on the first launch day, while the number of registered buyers was 2.5 times the available supply. This is the clearest evidence of the PMH brand’s enduring appeal in the property market.
PHU MY HUNG SHOPHOUSES COMPARED WITH OTHER INVESTMENT CHANNELS: WHICH TYPE SHOULD YOU CHOOSE?
How Do Phu My Hung Shophouses Differ from Rental Apartments in PMH?
PMH shophouses offer higher gross rental yields (4–8% per year compared with 2–4% per year for apartments) and greater price-growth potential, while PMH apartments are more advantageous in terms of lower initial capital (from VND 3 billion compared with VND 10 billion for shophouses) and accessibility for mainstream investors. Shophouses suit long-term investors seeking to build assets and generate substantial passive income; apartments suit owner-occupiers or small-scale investors.
In addition, PMH shophouses are extremely scarce (accounting for less than 5% of total properties), whereas apartments receive a continuous supply of new units from newly launched projects. This scarcity gives shophouses a clear long-term advantage over apartments in the same urban area in terms of price growth and liquidity.
How Do Phu My Hung Shophouses Differ from Conventional Commercial Townhouses?
PMH shophouses have the advantage of professional urban management, internationally standardised infrastructure and the enduring reputation of the urban area. Independent commercial townhouses offer greater flexibility in their use and construction, but carry planning risks, lack a shared infrastructure management body and have lower secondary-market liquidity.
Furthermore, when an exit strategy is needed, PMH shophouses have noticeably higher liquidity thanks to the urban area’s brand and transparent legal status. Independent commercial townhouses, by contrast, can sometimes be difficult to value and to sell to buyers with sufficient financial capacity.
What Is the Actual Net Yield of PMH Shophouses on Each Road?
The actual net yield of PMH shophouses is estimated at 3% to 6% per year depending on the road, after deducting 10% personal income tax, building management fees and annual periodic maintenance costs.
The Ton Dat Tien (Canal) and Nguyen Luong Bang corridors offer the highest net yields thanks to high rents from international brands. Nguyen Duc Canh has lower rents but also requires lower initial capital, maintaining a comparable net yield. The estimated payback period is 15 to 25 years depending on the segment, making it suitable for a long-term asset-building investment strategy.
