Office: The market did not record new supply in Q3 2022, the total cumulative supply of Grade A and B is still 1.43 million sqm of office space. Office rent of the whole market remained stable, with US$59/sqm/month for Grade A, and US$34/sqm/month for Grade B.
Industrial: Industrial land supply increased significantly compared to last year, especially in Q1 and Q2 of 2022, mainly due to delayed projects from last year's pandemic. The total cumulative supply of the market reached 27,780 hectares, with an occupancy rate of 88%.
Retail: The occupancy rate of the whole market reached 93%, and the total accumulated supply of shopping malls, department stores, and commercial podiums reached 1 million sqm. The average rental price is US$48,3/sqm/month, up 5.6% over the same period last year.
Apartment Market: Credit control policies that took effect from the beginning of July this year have partly created barriers to mobilizing capital from commercial banks, making it difficult for investors to deploy new apartment projects. Thus, the supply of new apartments in Q3 fell by 56% QoQ, with about 4,100 units offered for sale.
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