A bird's-eye view of Thanh Xuan district in Hanoi (Photo: VNA) CBRE experts projected the capital condo market will beexpanded with the participation of new residential areas, while mid-end andaffordable projects are forecast to move farther outside Ring Road No. 3.
Average selling price in the primary market is projected toincrease by 4 – 6 percent year-on-year in 2021.
According to Nguyen Hoai An, director of CBRE Hanoi Branch,over the past year, the real estate market was disrupted by COVID-19 socialdistancing measures, however, the technology factor proved effective inassisting sales and helping investors in market assessment and decision making.
The local office market, meanwhile, is expected to welcomearound 22,000 sqm NLA (net leasable area) of new office space.
Driving force behind the growth of the market isattributable to demand from the banking-finance, insurance, production, and ITsectors, said CBRE experts.
Industrial real estate market remains a highlight,attracting both domestic and foreign investors. Last year, despite thepandemic, international conglomerates like GLP, LOGOS and JD.com investedheavily in the northern and southern regions. Domestic property developerVingroup also take part, with its two new industrial parks expected to debut in2021./.
VNA
