Vietnam Property Market Brief 1Q22

A special quarterly property publication provides insights on the HCMC and Hanoi markets

April 27, 2022
  • 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.

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