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Market Report | Q2 2020

TMS Consultancy’s Market Report Q2/2020 provides the performance of Vietnam’s economic and real estate market, including apartment, office, retail and hotel sectors in Ho Chi Minh, Hanoi and Da Nang.

Apartment: In Ho Chi Minh City, the total new supply to the market was 1,168 units and the absorption reached 851 units, which came mostly from existing projects. The average asking price of apartment reached 2,340 USD/sqm in all segments. Hanoi currently has about 152 completed projects and the average asking price in the CBD area was about 2,000-2,200 USD/sqm and 800-1,000 USD/sqm in the non-CBD area.
Office: B-cons Tower II, located in Binh Thanh district, was a new office skyscraper that contributed 8,649 sqm GFA to the office market. The average rental of grade A and grade B office in Ho Chi Minh City was 45 USD/sqm/month and 25 USD/sqm/month, respectively. In Da Nang, the total office stock was approximately 94,000 sqm, same as the 1H/2019 period.
Retail: In the CBD of Ho Chi Minh City had over 100,000 sqm NLA of the total new supply with the rental price of approx. 135 USD/sqm/month and the occupancy rate was 98%. The non-CBD had over 942,000 sqm NLA from 47 projects with the rental price to 36 USD/sqm/month and 97% of the occupancy rate. In Hanoi CBD and non-CBD areas increased steadily, with the rental price of approx. 100 USD/sqm/month and 22 USD/sqm/month. And Da Nang had around 212,000 sqm of the total retail stock and average rental price rose by 8% YoY.
Hotel: Ho Chi Minh City has added a new hotel project, raising the total number of 4 – star and 5 – star hotels to 50 hotels with nearly 11,000 rooms. The Da Nang hotel market has recorded a total supply number of approx. 15,400 rooms of 3 to 5-star hotels, up 20% YoY. There were 2,000 new rooms in H1/2020, average occupancy rate fell 3 ppts YoY and ARR down 9% YoY.

Learn more by clicking our Vietnam Market reports | Q2 2020

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