Prime office real estate in Singapore’s central business district (CBD) is highly susceptible to the risk of flooding as sea levels rise due to global warming, property consultants CBRE said in a report on July 23.
The new launch of condominiums in the second quarter of this year (Q2) nearly tripled that of the previous quarter, showing recovery of sales activities, according to CBRE Vietnam's quarterly report on the Hanoi market released at a recent online press conference.
The development of e-commerce together with delays to import and export activities due to disrupted logistics services has accelerated demand for ready-built factories and warehouses during the COVID-19 outbreak in Vietnam.
The hotel market in Vietnam this year is expected to face a severe decline in room occupancy due to the COVID-19 pandemic and will not recover until next year, industry experts have said.
Vietnamese landlords should consider shifting from their traditional fixed-rent model to base rents and revenue sharing like in many other countries to spread the risk, experts have suggested.
Experts and businesses in Ho Chi Minh City’s real estate sector have mapped out recovery scenarios after the COVID-19 pandemic passes, with the local property market having experienced a marked slowdown.
Experts believe that the real estate market is unlikely to fall into a crisis and housing prices will remain stable because market demand remained high while supply is limited.
Though the COVID-19 pandemic has cast a shadow over the global economy, the HCM City office space market has not been badly affected this year, according to property consultancy companies.
After announcing plans to expand its presence in Singapore, co-working space provider WeWork set to open two new locations in Vietnam before the end of the year.
Food and beverage and fashion and lifestyle will continue to drive demand in Ho Chi Minh City’s retail property market, according to real estate consultancies.
UK based Workthere, a website listing platform and brokerage services, has entered the Vietnamese market to help businesses find flexible, co-working and serviced office spaces in a country where co-working has expanded rapidly.
Vietnam's real estate market continues to attract foreign investors because of its growth potential, especially investors from the Republic of Korea, according to real estate consulting companies.
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 second quarter, said CBRE Vietnam, a provider of commercial real estate services, at a meeting in Hanoi on October 9.
Local demand for real estate products with long-term ownership exceeds supply as most of Vietnamese people prefer this kind of deal, experts said during a recent conference.
Ho Chi Minh City’s realty sector experienced a hazy first half of the year, with dwindling supply of both high-end and pocket-sized apartments, according to insiders.
The office market in Ho Chi Minh City continued stable growth in the first half of this year, with some increases in rental prices and areas, according to major property consultant firms.
The flexible office market in HCM City comprising co-working and serviced offices is among the fastest growing in the Asia Pacific, market researchers said.
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