Hanoi Figures Q1 2022

March 1, 2023

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Office: Strong net absorption forecasted in 2022 will ensure a stable occupancy rate. With the abundant supply coming, average asking rents of current projects are expected to slightly increased 1 – 2% to year end

Retail: the Hanoi retail market has not yet seen significant changes in Q1 with no new supply. However, as eased social distancing measures continue to take place along with booster-dose vaccination campaign, a strong bounce-back and optimistic market sentiment are expected in the year.

Condominium: Limited new launch due to disruption of Tet holiday and a new wave of COVID-19 allowed sold units to continue to exceed new launch. Primary prices continue to rise.

Industrial: Although there were three new projects coming into operation this quarter in Bac Ninh, average occupancy of industrial parks in key northern industrial markets remained positive.