Tuesday, July 23, 2019 11:37:12 AM - Markets open
VN-INDEX 987.67 +5.63/+0.57%
HNX-INDEX 106.67 -0.09/-0.08%
UPCOM-INDEX 58.04 +0.03/+0.05%
Experts back retail property sector
Source: VNA - 2/2/2017 3:43:19 PM
 (0 ratings. You must sign in to rate.)
Retail space is set to be a cash cow for the property sector soon, particularly in Hanoi and Ho Chi Minh City.

Experts from property consultant firm Savills Vietnam said despite closures and fierce competition last year, the outlook for 2017 and beyond is rosy.

Convenience store chains that open round the clock are expected to thrive this year.

In addition to successful long-standing Thai investors, retailers from Japan, China and the Republic of Korea are landing in the Vietnamese property market.

In Hanoi, sources of retail property are projected to concentrate in the downtown area and the west between 2017 and 2018. A signal that bodes well for the sector is an increasing number of newly registered enterprises, with the figure for 2016 exceeding 22,000, up 19 percent year-on-year.

Savills’ counterpart CBRE Vietnam highlighted two recently debuted projects in the capital, Vincom Pham Ngoc Thach shopping mall and Vincom Plaza in north Tu Liem, adding 45,900 square metres of retail space to the market.

Hanoi’s retail space now amounts to approximately 758,216 square metres, with a good occupancy rate.    

The closure of poor performing shopping centres has boosted the occupancy rate. Due to restricted space in central Hanoi, a shift to suburban districts is on the cards. Retail space supply this year stands at about 106,000 square metres, all in the suburbs. Average leasing prices have fallen slightly, increasing competition.

Ho Chi Minh City also has an active retail property market.

A CBRE study found that 17 international brands entered the southern hub last year, nearly tripling the figure for 2015. Big brands, such as Zara, H&M and 7-eleven, are set to expand.

In the next three years, the city expects to have 500,000 square metres of retail space leased, with shopping malls accounting for 75 percent of the supply.
Newer News
08/07 VN to boost professional real estate brokers
07/07 VN to boost professional real estate brokers
24/06 Property market heats up in Binh Phuoc province
19/06 Excitement rises in Vietnam’s real estate
13/06 NVL: Takes expo to introduce a range of projects
09/06 MoC: rules for condotels, officetels coming this year
03/06 Real estate market set for recovery as HCM City streamlines housing regulations
31/05 Real estate market set for recovery as HCM City streamlines housing regulations
29/05 Real estate sector advised to reduce dependence on bank credit
23/05 Spectrum of opinion on credit moves
Older News
21/01 Property market to continue strong showing this year
20/01 M&A helps to jolt real estate
12/01 HN witnesses positive property market development in Q4
11/01 Major realty firms to be inspected
10/01 VN’s average floor area per person is 22.8sq.m
10/01 Vietnam in dire need of low-cost condos
09/01 HCM City property market epiccentre shifts eastward
07/01 Gov’t urges developers to balance supply, demand
05/01 Housing land prices increase 20-40 percent in HCMC
05/01 Retail, property deals dominate M&A market in 2016
Newsletter Signup
Top Stories
VN has trade surplus of about $1.6 billion in H1
Trade pacts bring opportunities for seafood industry's sustainable growth
Credit institutions warned about P2P lending
CPTPP boosts export opportunities in Japan
Deutsche Bank's restructuring not expected to harm VN market
Market Update
Last updated at 11:55:00 AM
VN-INDEX 987.67 +5.63/+0.57%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.