Vietnam property market overview 2Q21

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

July 15, 2021
Market Highlights:

Ho Chi Minh City and Southern provinces

  • Office: The market recorded no new supply in all grades.
  • Retail: Landlord offered rental concessions for 1-month social distance.
  • Residential: The fourth outbreak in June 2021 has delayed launch events and hedged new project entries.
  • Industrial: IP developers set a new average land price peak at USD 113 per sqm per lease term, increasing 7.1% y-o-y.

Hanoi and Northern provinces

  • Office: The average net rent of Grade A & B remained stable at USD 18.7/sqm/month, down by 0.23% q-o-q.
  • Retail: Hanoi retail market stayed quiet with no new completion coming on stream.
  • Residential: The average primary price largely remained unchanged in 2Q21 at USD 1,560 per sqm.
  • Industrial: Many developers are eyeing opportunities in the Northeast region.

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