The supporting industry boosted the development of Vietnam's industrial real estate market last year, along with creating new emerging hubs and pushing second tier cities forwards, according to CBRE Vietnam Co, Ltd.
New supply is expected to prosper in the last three months as the two biggest cities of Vietnam are set to welcome a great number of units launched from large-scale township developments to attract buyers at year-end.
In the last quarter of 2019 and 2020, the market is expected to welcome approximately 50,000 units across the two biggest megacities Hanoi and Ho Chi Minh, according to the latest report by CBRE.
In the future, Technology and Flexible Workspace will continue to dominate office demand thanks to the boom in new start-ups and the thriving of technology industry of Vietnam in recent years, according to CBRE's report.
Average monthly rents for retail space in Saigon's central business district kept on rising in the third quarter of 2019 as Vietnam was still considered attractive to international retailers and developers, CBRE stated.
Recent proposals in several cities to increase land prices, together with the current restrictions placed on new projects, are expected to cause headaches for real estate developers, leaders and relevant associations.
Vietnam Hospitality Forum held by CBRE Vietnam hears of ongoing potential in local hospitality sector.
Gamuda Land Ho Chi Minh City project preparing for hand over to residents in fourth quarter.
Western area was the major supplier of condominium projects in the capital city of Hanoi, accounting for 77 percent of the total new units in the third quarter, said CBRE Vietnam, a commercial property service provider.
New supplies of offices for lease in HCMC in the third quarter of this year kept office rents, especially Grade A offices, from rising further, according to property service provider CB Richard Ellis (CBRE) Vietnam.
Secondary market for landed-property in both Hanoi and Ho Chi Minh City (HCMC) maintained healthy growth in the first half amidst limited inventory, thanks to new emerging locations, according to CBRE Vietnam.
An upbeat third and fourth quarters of the year for the condo market in the two biggest cities in Vietnam will be driven by quality township developments and large-scale projects.
An extra 4,500 four- and five-star hotel rooms will be put into service this year and next in the central coastal city of Danang, according to property service provider CB Richard Ellis Vietnam (CBRE Vietnam).
In the near future, Flexible Workspace, Technology-related Firms and Insurance Companies will replace Finance/Banking to become the three key demand drivers of the market, according to market research firm CBRE.
Property experts, both local and foreign ones, share their opinions on situations of Vietnam's property market at present time.