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CBRE: non-CBD retail rental prices slightly decrease due to higher vacancy rate

According to CBRE Vietnam, while CBD retail floor segment still maintained stable prices thanks to limited supply, vacancy rates of all other areas slightly increases, especially in non-CBD areas which decreased by 0.7pct q-o-q, resulting in slightly decrease of non-CBD retail rental prices. Hanoi retail market began 2018 with an uneventful quarter. Total retail supply in Hanoi was still at 790,000 square meters since Q2-2017, in which Dong Da – Ba Dinh areas and West Hanoi accounted up to 54pct total supply, while other non-CBD areas occupied 40pct the supply. Regarding of retailers, convenience stores and supermarkets continued to grow strongly with the expansion of existing brands like Circle K, Vinmart+,… The potential of retail market was still available, following with modern shopping trend that emphasized convenience and irreplaceable basic goods.