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Retail space and office rent levels keep decreasing

At the press conference in Ha Noi on Jan 06, CBRE Vietnam said office rent in Ha Noi continued to drop. In detail, Grade-A office rental reduces by 0.2 percent compared to the previous quarter while Grade-B dropped up to 4.34 percent. As comparison to the same period last year, the reduction of Grade A and Grade B office rent is 1.1% and 15% respectively. The average rent is around US$31 for Grade-A offices and US$17 for Grade-B ones. CBRE also said the occupancy rate for both types was improved due to stable supply. In the fourth quarter of 2013, Ha Noi had no new supply in this segment.

Source: VNEXPRESS – Issue date: 06/01/2014