Property leasing price of HCM city reduce average 2% each year since 2012, Hanoi even reduce faster, fall average 6.8%, according to Savills Vietnam.
This agency has just announced Vietnam market 2016 notebook, in there, property leasing price in two these big cities tend to reduce. Property leasing price of Hanoi tend to reduce in 3 segments, reducing mostly from high level segment (reducing 7.8% a year) due to high quality retail centers intergrate to the market in suburbs which have low leasing price. Whereas, HCM city still remarks some areas having property leasing price increase slightly.
In first half of 2015, leasing price of luxury segment in Hanoi reached USD 124 per square meter and HCM city reached USD 118. In 2010 – 2015 phase, leasing price off Hanoi reduce 3.5% each year, whereas, HCM city increase slightly 1%. Retail segment of HCM city and Hanoi both in the young development phase. Both cities have average leasing price approximately 10% compared with Hongkong, one of the cities which has expensive living condition and nearly 2 times as its flowing nation, Singapore.
According to this agency’s statistic, total supply of retail leasing property of the 8 biggest cities in Vietnam reached 2.8 square meters, in there, HCM city and Hanoi accounted 75%. However, other cities in ASEAN like Bangkok, Singapore and Kuala Lumpur have higer desity than Vietnam, which is 0.9, 0.7 and 0.7 square meter respectively.
Savills forecasts, with increasing of income, enhancing awareness of hygiene and safe, entertainment demand accompany with the number family member reducing, expense of modern Vietnamese consumer concentrate on improve living level and upgrade transport vehicle.
VnExpress