… combined with the laws of supply and demand=a small (53 m2/602 ft2) building in downtown Hanoi that recently sold for $2.3 million. Where this charming Hanoi house once stood is now a pile of rubble. On this site, at the intersection of Hang Bai and Hai Ba Trung streets in the Hoan Kiem District, which I pass every day on my way to the office – will appear a trade center and office building. It’s a perfect example of how “development” is transforming the cityscape and chipping away at this important piece of Hanoi’s cultural heritage.
Related to this – back to the laws of supply and demand – is the fact that Hanoi and Ho Chi Minh City (HCMC) are among the most expensive cities in the world for office space rental. At $38 per sqm in HCMC and $36.5 per sqm in Hanoi, they rank 19th and 21st, respectively, more than Manhattan (New York City), Frankfurt, Beijing and Brussels.
What does this have to do with education? In a phrase: ability to pay.