Vietnam Property Market Brief 4Q22
A special quarterly property publication provides insights on the HCMC and Hanoi markets
- Trang Le
Market Highlights:
Vietnam’s Gross Domestic Product (GDP) in 2022 increased by 8.02% y-o-y.
In 4Q22, total retail sales of consumer goods and services were estimated at VND 1,180.4 trillion, increased 17.1% y-o-y.
Total FDI registered in Vietnam in 2022 the first nine months reached USD 27.72 billion, down 11% y-o-y.
The average CPI in 4Q22 increased by 4.41% y-o-y.
Export turnover in 4Q22 was estimated at USD 89.5 billion, down 6.1% y-o-y.
Ho Chi Minh City and Southern provinces
Office: Net effective rent relatively stable across Grade A buildings.
Retail: City Fringe vacancy temporarily increases owing to new supply.
Residential: Selling prices remained resilient amid weak market sentiment.
Industrial: Domestic demand resilient; cross-border demand falls slightly.
Hanoi and Northern provinces
Office: Rents increase slightly, driven by higher rent in Capital Place.
Retail: Renovated mall drive the net absorption in City Centre.
Residential: Developers offer bigger incentives which leads to the soften selling price in existing projects across both Apartment and RBL market.
Industrial: Average rents inch up, driven by higher rents in new completions.
