Hanoi commercial property booms
The Hanoi real estate market saw optimistic development in the third
quarter and the growth trend is expected to continue to the end of this
year, Savills Vietnam real estate agent reported on Oct. 5.
The Hanoi real estate market saw optimistic development in the third
quarter and the growth trend is expected to continue to the end of this
year, Savills Vietnam real estate agent reported on Oct. 5.
"Good economic recovery in the third quarter helped the office and retail sectors in the property market," said Pham Thanh Son, Savills Vietnam economics expert.
Hanoi 's office occupancy rate average increased to 91 percent, a 4 percent jump, in the second quarter, according to Savills associate director and head of research and consultancy Tran Nhu Trung.
The average occupancy rate in the city's shopping centres remained high at 94 percent and many new shopping centres opened in this quarter.
The serviced apartment sector average dipped slightly to 91 percent from 92 percent in the third quarter but average rental rates increased by 0.4 percent to 26 USD per sq.m per month, Trung said.
Son reported challenges to credit acquisition for the capital property market, which include depreciating dong, high interest rates for loans and Decree 71, which contributed to a decline in mobilised capital.
Son also 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./.
"Good economic recovery in the third quarter helped the office and retail sectors in the property market," said Pham Thanh Son, Savills Vietnam economics expert.
Hanoi 's office occupancy rate average increased to 91 percent, a 4 percent jump, in the second quarter, according to Savills associate director and head of research and consultancy Tran Nhu Trung.
The average occupancy rate in the city's shopping centres remained high at 94 percent and many new shopping centres opened in this quarter.
The serviced apartment sector average dipped slightly to 91 percent from 92 percent in the third quarter but average rental rates increased by 0.4 percent to 26 USD per sq.m per month, Trung said.
Son reported challenges to credit acquisition for the capital property market, which include depreciating dong, high interest rates for loans and Decree 71, which contributed to a decline in mobilised capital.
Son also 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./.
You should also see
Vietnam, China promote judicial cooperation
Minister of Justice Le Thanh Long held talks with his visiting Chinese counterpart He Rong in Hanoi on April 19 to discuss measures to promote judicial cooperation between the two countries.
See more
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
Business
Vietnam earns 1.43 billion USD from rice exports in Q1
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
