Real estate market in the capital of Hanoi is expected to continue uptrend from now until the end of this year, according to real estate service firm Savills Vietnam.
Strong economic recovery in the third quarter had driven up the office and retail sectors in the property market, the company said
Hanoi’s office occupancy rate average increased to 91%, a 4% jump, in the second quarter, Tran Nhu Trung, associate director and head of research and consultancy of Savills Vietnam, said.
The average occupancy rate in the city’s shopping centers remained high at 94% while many new shopping centers opened in this quarter.
The serviced apartment sector average slightly dropped to 91% from 92% in the third quarter but average rental rates increased by 0.4% to $26 per square meter per month, Trung said.
Trung also pointed out challenges to credit acquisition for the property market, including the 2.1% dong depreciation and high interest rates for loans and the Decree No. 71 that contributed to a decline in mobilized capital for the sector.
He asserted that the increased price of gold and the higher exchange rate attracted more investors to the financial market so available capital for property projects has declined
Strong economic recovery in the third quarter had driven up the office and retail sectors in the property market, the company said
Hanoi’s office occupancy rate average increased to 91%, a 4% jump, in the second quarter, Tran Nhu Trung, associate director and head of research and consultancy of Savills Vietnam, said.
The average occupancy rate in the city’s shopping centers remained high at 94% while many new shopping centers opened in this quarter.
The serviced apartment sector average slightly dropped to 91% from 92% in the third quarter but average rental rates increased by 0.4% to $26 per square meter per month, Trung said.
Trung also pointed out challenges to credit acquisition for the property market, including the 2.1% dong depreciation and high interest rates for loans and the Decree No. 71 that contributed to a decline in mobilized capital for the sector.
He asserted that the increased price of gold and the higher exchange rate attracted more investors to the financial market so available capital for property projects has declined
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