Search results: retail space

The positive signal from key infrastructure projects such as the construction of Long Thanh International Airport and the official formation of Thu Duc City will be a key driver of the real estate market to restart. This is good times for retailers to search for quality retail space at a discount.

Vietnam’s economy achieved 7.02%, well exceeding set by the National Congress. High growth was driven by strong export activities 'Total export values was US$263.5 billion' leading to trade surplus US$9.9 billion. New launches in real estate market continued to decrease due to slowdown of licensing process.

Looking back, there has been a contradictory scene of success and struggle among retail stories in Vietnam during the first half of 2019. Mid-end segment continues to dominate the market with new supply of around 70% - 80%, residential supply will move further away from the 10km radius of the CBD.

Due to the impact of the delay in licensing process of new projects and the decreasing clean land bank in Ho Chi Minh City, developers concentrate on product with high value. Decreasing inventory together with limited new supply are leading to active secondary market.

According to Global Consumer Confidence Survey by Nielsen, Vietnam’s Consumer Confidence Index reached 122 points, ranked fourth in the list of the most optimistic countries in the world. This challenge is likely to continue in the coming year with limited new supply in central business district.

The supply of retail space in the CBD area continues to be limited because there was not much progress made on the construction of most future supply and the launch dates of some were delayed until next year.

2018 is expected to be an active year in Hanoi retail coming from eight under-development projects. This is the largest number of new projects ever planned for a single year.

Vietnam’s retail market has jumped to 6th place, higher than some developed markets in the region such as Singapore, Hong Kong, Indonesia and showing high potential for further growth. Vietnam market achieved high scores in terms of market saturation with good scope for growth. Saturation in both Hanoi and Ho Chi Minh City is far behind the levels seen in some other SEA cities.

For small-sized businesses, co-working is a cost-saving solution compared to leasing traditional offices. By choosing co-working offices can save on cost, as the office rent includes all service charges such as power, water, security, cleaning, Internet and office equipment