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Office for lease in Hanoi: mass launch products in early this year

According to CBRE Vietnam's report on Hanoi market in Q4-2015, the city's average A-Grade office rental prices increased by 1pct q-o-q, while B-Grade's prices dropped by 0.7pct q-o-q. Greg Ohan, Head of Office Services at CBRE Vietnam, said that in recent year, the office-for-lease market in Hanoi has seen significant movements from a large number of enterprises that transfer their offices to west Hanoi (districts like Cau Giay, Nam Tu Liem and Bac Tu Liem) in order to benefit from more affordable rental prices. This change help boost general trade services in west Hanoi greatly, as the number of office-workers has increased, following by the increased demand on restaurants, shopping areas and related utilities. Meanwhile, Desmond Sim, Head of Research at CBRE South East Asia, said that the demand for office spaces will increase this year due to TPP agreements and AEC establishment.