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CBRE Vietnam MarketView Q4 2020

Vietnam GDP
2.91% y-o-y
1.39% y-o-y
Hanoi GRDP
3.98% y-o-y
14.9% y-o-y
*Arrows indicate change from the same period of the previous year.
Office: The office market witnessed negative net absorption in 2020 in both Hanoi and HCMC, as tenants’ contractions continued to be recorded by CBRE. However, with infrastructure pipelines that are expected to complete by 2021 coupled with the COVID-19 vaccine rollout, the Vietnam office market is forecasted to recover accordingly.
Retail: The continuous efforts to contain COVID-19 pandemic throughout the year has helped the retail market in Vietnam to regain its momentum.
Condominium: Due to the impact of COVID-19 and legal work issues, condominium markets in both HCMC and HN have been witnessing a downturn in new supply. Primary selling prices continued to increase in both cities.
Industrial: In the South, asking rents in some industrial parks in HCMC, Binh Duong, Dong Nai and Long An increased from 20% to 30% y-o-y. At the same time, asking rents in some industrial parks in the North such as Hai Phong, Bac Ninh and Hai Duong increased by 20% compared to 2019.
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