Market Report | Q4 2023

TMS Consultancy provides Vietnam’s economic and the benchmark for property market research across apartment, office, retail and hotel sectors in Ho Chi Minh City , Hanoi and Da Nang.

Apartment: In 2023, the apartment market HCMC, Hanoi and Da Nang had the lowest new supply. The high-end segment dominated the market, whereas the affordable segment was absent in three provinces.

Office: The new supply is expected to come from the West in Hanoi and CBD Fringe is still the most attractive location in HCMC because of the low available space in the CBD.

Retail: The retail market is rebounding well. The average asking rental price hit a record high as the occupancy rate increased.

Hotel: The recovery continues to be largely driven by domestic demand, the return of international tourist in 2023 has increased. The average rental price of hotel increased by 3-9% YoY and the average occupancy rate was over 70%