Vietnam property market overview 3Q21

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

October 10, 2021
  • Xuan Pham
Market Highlights:
  • Vietnam recorded the deepest GDP decline in 3Q21 in the history of quarterly GDP statistics since 2000: Vietnam’s GDP decreased 6.17% y-o-y in 3Q21.
  • FDI capital reached USD 22.15 billion in the first three quarters of 2021, up by 4.4% compared to the same period in 2020.
  • Total retail sales of consumer goods and services reached VND 3,367.7 trillion, down 7.1% y-o-y.
  • International tourists’ arrival to Vietnam was estimated at 114.5 thousand in the first nine months of 2021, down 97% y-o-y.
  • The average CPI in 3Q21 increased 2.51% y-o-y.
  • The first three quarters of 2021 had an estimated trade deficit of USD 2.13 billion.

Ho Chi Minh City and Southern provinces

  • Office: The market recorded no new supply in all grades.
  • Retail: Malls shutdown during 3Q21. Limit leased transactions.
  • Residential: The average primary selling price achieved USD 2,683 per sqm, up 4.4% q-o-q and 10.9% y-o-y.
  • Industrial: The land price set a new peak at USD 114 per sqm per lease term.

Hanoi and Northern provinces

  • Office: The average net rent of Grade A & B remained stable at USD 18.7/sqm/month.
  • Retail: All shopping malls closed from July 24.
  • Residential: The average primary price was at USD 1,650 per sqm in 3Q21, increased by 9.3% y-o-y.
  • Industrial: Industrial integrated projects are catching investors’ attention.

What’s more?

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