Market Report | Q4 2022

The year 2022 was a difficult one for the real estate industry; the market was up at the beginning of the year, but the middle and end of the year were difficult. Apartment supply was at an all-time low, credit was scarce, businesses were cash-strapped, bonds were due and many investors had to cut their losses.

Apartment: The asking price of apartments in 3 principal cities are increasing: Ho Chi Minh City, Ha Noi and Da Nang all increased, about 3-4% Y-o-Y.

Office: rental rates of office in 3 provinces: Ho Chi Minh City, Hanoi and Da Nang all increased, by 2.5- 4% Y-o-Y in Q4/2022.

Retail: Following the implementation of Covid 19, retail performance improved. Furthermore, many projects have been constructed after the delay period and are expected to be released to the market as soon as possible. In Ho Chi Minh City, the average asking price increased by 10% Y-o-Y, while in Ha Noi, it decreased by 8% Y-o-Y.

Hotel: After reopening, Vietnam’s tourism had gradually recovered and developed positively with many positive signals. . Hotel rents in some majority provinces increased slightly by about 1.5-6% Q-o-Q and increased by 2-10% Y-o-Y.