Vietnam Property Market Brief 2Q23
A special quarterly property publication provides insights on the HCMC and Hanoi markets
- 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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