CBRE Vietnam MarketView Q1 2020

COVID-19 poses significant headwinds for Vietnam real estate market.

 Vietnam GDP              HCMC GDP            Hanoi GDP                VN-Index

          3.82% y-o-y                      0.42% y-o-y                    3.72% y-o-y                      -32% y-o-y

*Arrows indicate change from the same period of the previous year.

  • Office: HCMC office market seemed to be less vulnerable from the COVID-19 and more flexible to the economic fluctuation than other commercial sectors. Hence, the market performance is expected to remain healthy in a longer term outlook.
  • Retail: During the heavy impacts of COVID-19 on retail market, landlords have been proactive in supporting their tenants and maintained good occupancy rates. The outbreak also highlighted the importance of omni-channel strategy and the necessity of a professional management practice.
  • Industrial: Occupancy rate of southern industrial parks increased rapidly due to limited industrial land supply and rental abatement has not recorded yet. Market outlook in long term remained positive thanks to boosted infrastructure development and newly signed free trade agreements.
  • Condominium: In the first quarter of 2020, the market observed cautious launching activities from developers. In the context of limited supply, the average selling price in the primary market increased by 4% and 9% y-o-y in Hanoi and HCMC respectively. Headwinds including licensing issues, credit tightening and the COVID-19 outbreak are set to weigh on new condominium supply and demand in 2020.

Visit the Global Research Gateway

 HCMC MarketView                                                   Hanoi MarketView

For an in-depth analysis of each sector in the Vietnamese property market, please subscribe to CBRE's premier quarterly property publication. Further details can be found in the below flyer.

 CBRE Quarterly Report Flyer              Giới thiệu về Báo Cáo Quý CBRE

In order to download this MarketView, as other reports published by CBRE, you are required to Register/ Log in to CBRE Global Research Gateway with your corporate email.

 Please read our User Guide for further instruction.