Hanoi Figures Q4 2022

Office: New supply has emerged and is anticipated to rise further in the upcoming quarter

Retail: Q4 2022 welcomed a new supply in non-CBD area. Asking rents in both CBD and non-CBD area at the end of 2022 reached the highest level of rent ever recorded. Vacancy rates citywide declined q-o-q thanks to robust expansion activities from retailers. Looking forward, rents is anticipated to continue to rise but at a slower pace. Concerns about continuing inflationary pressures may put pressure on both consumer spending and asking rents of the retail market.

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.