Research
Vietnam Property Market Brief 3Q22
A special quarterly property publication provides insights on the HCMC and Hanoi markets
November 17, 2022
Contributors:
- Trang Le
Market Highlights:
- Vietnam’s Gross Domestic Product (GDP) in 3Q22 increased by 13.67% y-o-y.
- In 3Q22, total retail sales of consumer goods and services were estimated at VND 4,170.2 trillion, increased 21% y-o-y.
- Total FDI registered in Vietnam in the first nine months reached USD 18.75 billion, down 15.3% y-o-y.
- The average CPI in 3Q22 increased by 2.73% y-o-y.
- Export turnover in 3Q22 was estimated at USD 96.5 billion, up 17.2% y-o-y.
Ho Chi Minh City and Southern provinces
- Office: Demand recovers across both Grade A and Grade B segments
- Retail: Net effective rent recovers to a higher than pre-pandemic level
- RBL: Record-high price projects drive up the average primary market prices
- Industrial: Demand maintains strong momentum
Hanoi and Northern provinces
- Office: Average rent increases, mainly from new buildings
- Retail: Demand continues to surge in City Fringe
- RBL: New supply shows signs of slowing down. Strong demand is seen in projects with a good selling price
- Industrial: The occupancy rate remained high. Rents continue to grow modestly
