Returning to one of my all-time favourite head scratchers, The Guardian reports,
The hundreds of bustling market stalls that make up Ho Chi Minh City’s Ben Thanh market could not be more different from the sparkling shopfronts of Rodeo Drive in Beverly Hills or London’s Bond Street. But data released by the tax office in Vietnam’s commercial centre shows that shop space in the 147-year-old market is changing hands for probably more than anywhere else on the planet.
Prices in Ben Thanh have jumped about 40% in the past two years to 230 taels of gold, or £91,000, a square metre, Reuters said yesterday.
The prices even eclipse Tokyo’s Ginza shopping district, long-reputed to be the world’s priciest shopping district, where retail space sells for £69,000 per square metre. And this despite an average annual salary in Vietnam of £338. via No StarWhere.
We nattered about this long ago in the comments. And I’ll repeat; it’s not Johny Foreigner buying land, it’s Vietnamese. A few months before I left Vietnam I met a Vietnamese woman in her late twenties who paid $1,000,000 for a pokey wee shop on Dong Du street. She paid in cash. Of course.