Hanoi office market sees rising stock in Q4/2018: C&W
The rising supply was driven by growing demand for offices from multinational companies.
The stock of Grade B offices in Hanoi in the fourth quarter (Q4) of 2018 rose 1.5% on quarter and 9.7% on year, according to Cushman and Wakefield (C&W). 
Building for rent. Photo: Indochinaplaza
|
The occupancy rates of Grade A buildings exceeded 95% Q4, compared to 90% of Grade B buildings. The rates contributed to a total absorption rate of over 80% for the quarter.
Average rent remained stable for both grades in Q4 but recorded an increase of 2.5% for the year, mainly driven by higher rent of projects with improved occupancy and prime locations with a limited available area.
The market is expected to remain competitive in the short term with the imminent opening of two new buildings.
C&W attributed the short-term prospect for Hanoi’s office market to Vietnam’s economic growth accelerated in the fourth quarter, leading to an increase of 7% for the whole year.
This growth is thanks to a number of factors, including stable macroeconomic conditions, sustained FDI attraction, strong economic restructuring, and ongoing FTA implementation, C&W said in the latest report.
22:45, 2025/01/15
Industrial property benefits from surge in high-tech investment
Vietnam is emerging as a strategic destination for major technology firms given its favorable geographic location within the global supply chain.
08:31, 2025/01/15
Vietnam's property market rebounded in 2024, driven by reforms and transparency
Nearly 81,000 units were available for sale in 2024, up more than 40% on year.
22:24, 2025/01/09
Hanoi's new appartment supply triples to highest level since 2020
In 2025, the new supply of apartments in Hanoi is expected to remain robust, reaching over 31,000 units, higher than in 2024.
16:20, 2024/11/20
Hanoi to add nearly 6,000 social housing units by 2025
The construction of social housing in the capital has reached only 9% of the target set in the plan to build one million social housing units by 2025.
16:35, 2024/10/22
New international brands diversify Hanoi hotel offerings
Hanoi's hotel market is also experiencing a decline in rental rates amid the seasonal lull in tourism and leisure activities.
20:57, 2024/10/21
Hanoi set to deliver new luxury apartments this quarter
Over 19,000 new apartments were delivered in the first nine months of this year, surpassing the total supply in 2023.
- Hanoi's real estate market soars: Apartment transactions up 101%
- Hanoi to add 8,300 apartments to social housing reserves by 2029
- Hanoi real estate market: Developing in right direction
- Property prices in Hanoi, Ho Chi Minh City driven by speculators: experts
- Vietnam to mobilize resources for social housing development
- Vietnam’s real estate market back on road to recovery