Hanoi retail occupancy up on well-performed economy
Hanoi’s retail sales of goods and services in 2020 valued at VND584.7 trillion (US$25.2 billion), up 2.7% on-year.
Hanoi’s retail sales of goods and services in 2020 valued at VND584.7 trillion (US$25.2 billion), up 2.7% on-year.
Economic slowdown and falling income have driven down demand for real estate segments during 2020.
Local experts list real estate the most important sector in many countries, including Vietnam.
In 2020, the city has fulfilled the commercial housing target with 89 projects supplying 6.57 million sq.m.
Office markets in Vietnam’s major cities are promising segments for foreign investors.
The affordable housing is believed to contribute to the socio-economic development goals.
The capitalization rate for Hanoi Grade A office is approximately 7%.
Experts said the prices have been pushed up and exceeded people’s affordability.
Many experts shared opinions at a seminar reviewing some issues faced in urban planning towards cross-sector integration organized by Hanoi Association of Architects (HAA) on December 2.
Japanese investors are looking to tap into this lucrative segment.
New apartment launches in the third quarter of 2020 rose 79% on-year.
Tenants are given opportunities to evaluate and secure land from distance thanks to intensified investment in online platforms.
Landlords need to be more open to different kinds of tenants to meet the actual requirements.
The reality is largely attributed to Covid-19 impacts.
More transactions are expected to happen in the near future if market transparency improved and flexibility from investors becomes stronger.
Economic and political reasons are major factors that make Vietnam a bright market.
Industrial property continues dominating the market thanks to the fast growing manufacturing industry.
The performance of the real estate sector in Hanoi in the last three months of this year bodes well for 2021.