Vietnam Property Market Brief 4Q21

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

January 01, 2022
  • Trang Le
Market Highlights:
  • Vietnam recorded a positive GDP growth rate in 4Q21.
  • Vietnam’s GDP in 2021 increased by 2.58% y-o-y, and this rate is only half of the world’s average GDP growth rate of 5.6%.
  • FDI registered in 2021 reached USD 31.15 billion, up 9.2% y-o-y.
  • The total retail sales of goods and consumer services in 4Q21 reached USD 57.8 billion – an increase of 28.1% q-o-q but is remained 2.8% lower than 4Q20.
  • International visitors to Vietnam reached 157.3 down by 95.9% compared to the previous year.
  • CPI achieved the slowest growth since 2016: Import-export turnover in 2021 set a new record: As Covid-19 heavily impacted the economy, the average CPI of 2021 increased by 1.84% y-o-y.
  • Vietnam recorded trade surplus in 2021, marketing the 6th consecutive year in a row the country’s export turnover higher than import’s.
Ho Chi Minh City and Southern provinces
  • Office: Two Grade B buildings in non-CBD entered the market in 4Q21.
  • Retail: Slow resuming footfall after reopening in early October.
  • Residential: The average primary selling price achieved USD 2,732 per sqm, up 1.8% q-o-q and 10.5% y-o-y.
  • Industrial: The land prices gain growth momentum with the specific price at USD 117 per sqm per lease term.
Hanoi and Northern provinces
  • Office: The average net rent of Grade A & B remained at USD 18.7/sqm/month.
  • Retail: Net asking rent returned to stability
  • Residential: The average primary selling price was at USD 1,673 per sqm in 4Q21, increased by 8.3% y-o-y and 1.6% q-o-q.
  • Industrial: Rising demand, 80% of occupancy rate in the North. Land prices and rents remain stable.

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