Figure | Creating Resilience
Hanoi Figures Q2 2022
July 15, 2022
Office: Rents increased in both grades while strong leasing momentum ensured a stable absorption rate
Retail: In April 2022, after 5 consecutive quarters without new supply, Hanoi market welcomed Vincom Mega Mall Smart City in Tay Mo ward, Nam Tu Liem district, with net leasable area of 49,000 sqm. Concerns about challenges and inflationary pressures in the coming time are expected to affect the retail sector as costs of raw materials, production costs and consumer goods prices expect to increase further, affecting consumer spending and consumer confidence.
Condominium: After a quiet quarter, the market saw new supply booming to 15,528 units in Q2 2022. The improvement in price of suburban projects has not only caused the segmentation change in new supply but also driven primary pricing growth.
Industrial: The industrial market recorded many positive signals after Vietnam reopened the borders. The market expects strong pipeline over the next three years.