Vietnam Property Market Brief 2Q23

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

July 05, 2023
  • Trang Le
Ho Chi Minh City and Southern provinces
  • Office: Banking, Finance, FMCG sectors continues to drive the demand for Grade A office space

  • Retail: Limited available retail space in City Centre, offering more expansion opportunities in the City Fringe for tenants

  • Residential: Transaction volume in the high-priced segment continues to slow 

  • Industrial: Tenants and developers maintain a wait-and-see attitude amid prolonged market gloom

Hanoi and Northern provinces
  • Office: Buildings are offering rent reductions or maintaining stable rents to retain tenants

  • Retail: Net effective rent increased slightly in both the City Centre and City Fringe area thanks to stable demand

  • Residential: The new supply pool for High-end apartment remains flat, while RBL market remains “hibernation”

  • Industrial: Total supply at the end of 2023 is expected to increase 1.6 times compared to 2022’s level

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