Cushman & Wakefield Vietnam has released its latest report on Vietnam's retail market for the third quarter of 2018. HCMC: Market performance improves marginally Two new retail outlets were completed in the third quarter and one retail outlet converted its retail space into office space for lease while another closed. Retail stock was recorded at more than 1.26 million sq m, up 2.2 per cent quarter-on-quarter and 6.6 per cent year-on-year. The overall occupancy rate grew 1 percentage point (ppt) quarter-on-quarter and 4 ppts year-on-year to 93 per cent. This is viewed as a moderate improvement. New entrants accounted for over 90 per cent of total absorption in the quarter. New supply drives up rent Market-wide average rent in the third quarter of 2018 climbed 5.6 per cent quarter-on-quarter and 7.4 per cent year-on-year, to approximately $54.5 sq m per month, due to high rentals quoted by new retail outlets. “Tenancy mixes in shopping malls are still focused on … [Read more...] about Hanoi & HCMC retail market both rising
5 points west shopping center
Hanoi retail market sees slightly increasing rent in Q3/2018: C&W
The Hanoitimes - Currently, the city sees retail inventory of 1.07 million sq.m with shopping center takes the lead (968,400 sq.m), followed by retail podium (86,700 sq.m), and department store (18,000 sq.m). Average asking rent in Hanoi’s retail market in the third quarter (Q3) this year was US$38.8 per square meter per month (/sq.m/m), increasing modestly by 2.4% on-quarter and 0.8% on-year, mainly driven by a higher exchange rate and higher rental rates at projects with improved performances, Cushman & Wakefield (C&W) Vietnam said. A trade center in Hanoi. Photo: Internet Retail space in central business districts (CBDs) was priced at more than double the average rent of the Secondary and three to four times of those in the West and Suburban submarkets, C&M’s latest report showed. Department store was priced at US$70/sq.m/m, compared to US$38.7/sq.m/m in shopping center submarket, and US$33.5/sq.m/m in retail podium. Market … [Read more...] about Hanoi retail market sees slightly increasing rent in Q3/2018: C&W