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CBRE Vietnam MarketView Q1 2021

Vietnam GDP
4.48% y-o-y
4.58% y-o-y
Hanoi GRDP
5.17% y-o-y
79.8% y-o-y


*Arrows indicate change from the same period of the previous year.
Office: Although there was another Covid-19 outbreak in Q1 2021, Vietnam’s economy continued to recover. Consequently, the office market performance in Hanoi and HCMC were positive this quarter. The total net absorption of the Hanoi and HCMC office market are 24,000 sqm and 19,655 sqm, respectively.
Retail: The continuous efforts to control epidemics has helped the retail market in Vietnam to regain its momentum.
Condominium: Due to COVID-19 and legal work issues, condominium market in both HCMC and HN has been witnessing a downturn in new supply. Primary selling prices continued to increase in both cities.
Industrial: In the South, CBRE recorded that asking rents in some industrial parks in Binh Duong, Dong Nai and Long An increased from 10% to 20% y-o-y. At the same time, asking rents in some industrial parks in the North such as Bac Ninh and Hai Phong increased from 5% to 10% y-o-y.



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