Demand for commercial space increases in Q1 hinh anh 1NAM & Co. London store at AEON Mall Hai Phong (Photo: NAM & Co. London)

Hanoi (VNA) – 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.

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

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

Meanwhile, the rental costs in shopping centres in the non-CBDs fell 1.8 percent yearly, and 0.4 percent quarterly to 24.4 USD per square metre per month. Several projects with high vacancy rate offered rent reduction to attract tenants./.