Vietnam Property Market Brief 1Q22
A special quarterly property publication provides insights on the HCMC and Hanoi markets
- Trang Le
Market Highlights:
GDP increased in the first quarter of 2022.
Foreign Direct Investment (FDI) capital disbursement - highest in the first quarter in five years.
Vietnam’s gross domestic product (GDP) in 1Q22 was estimated to increase by 5.03% y-o-y.
In 1Q22, the total retail sale of consumer goods and services was estimated at USD 57.3 billion.
International visitors to Vietnam were estimated at nearly 91,000 arrivals in the first quarter, a 89.1% increase y-o-y.
Consumer Price Index (CPI) recorded a low increase amid global inflation: In the first quarter of 2022, Vietnam’s CPI increased by 1.92% y-o-y.
Imports and exports continued to recover strongly in the first quarter.
Ho Chi Minh City and Southern provinces
Office: The demand is slow due to the prolonged effects of the pandemic.
Retail: Anchor tenants’ movement and expansion drive 1Q22 take-up
Residential: A robust improvement in supply quality in the face of increasingly exacting buyer requirements has resulted in an increase in the primary market with USD 2,927 per sqm.
Industrial: This quarter, industrial land prices still sustained a strong growth momentum and peak at USD 120/sqm/lease term, up 9.0% y-o-y.
Hanoi and Northern provinces
Office: New Grade B supply recorded in CBD area.
Retail: Negative net absorption continued to cloud the market.
Residential: The primary selling price of the Hanoi apartment market peaked at 1,729 USD/sqm, up by 11.2% y-o-y.
Industrial: 1Q22 continued to record the heavy impact of the Covid outbreak on business activities of manufacturing enterprises when the number of infections increased sharply in the northern provinces.
