Business

Demand for commercial space increases in Q1

The need for commercial space in Quarter 1 slightly increased as compared to the previous quarter as exchanges of goods rose during the traditional Lunar New Year (Tet) holiday and international brands continued to expand their networks in Vietnam, according to the Ministry of Construction.
Demand for commercial space increases in Q1 ảnh 1NAM & Co. London store at AEON Mall Hai Phong (Photo: NAM & Co. London)

Hanoi (VNA) – The need for commercial space in Quarter 1 slightlyincreased as compared to the previous quarter as exchanges of goods rose duringthe traditional Lunar New Year (Tet) holiday and international brands continuedto expand their networks in Vietnam, according to the Ministry of Construction.

Occupancy rate at supermarkets and shopping malls was stable at around 90percent during January-March.

In the central business districts (CBDs), theaverage rental prices topped 108.1 USD per square metre per month, up 0.4percent from the previous quarter and 10.2 percent year-on-year.

Meanwhile, the rental costs in shopping centres in the non-CBDs fell 1.8percent yearly, and 0.4 percent quarterly to 24.4 USD per square metre permonth. Several projects with high vacancy rate offered rent reduction toattract tenants./.
VNA
#commercial space #exchanges of goods #Quarter 1 #occupancy rate #shopping malls #average rental prices #central business districts #Vietnam News Agency #Vietnamplus
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