Retail space supply inner Hanoi insufficient

Differing from the gloomy situation of office-for-lease segment, the apartments and retail space market in inner Hanoi City is seeing busy transactions despite high prices, the local newswire Dat Viet reported.

Dane Moodie, Marketing and Business Development Director of Colliers International Vietnam said, good locations are still appealing customers. For instance in office segment, Sentinel Place building in Ly Thai To Street, thanks to good location and suitable rental, is not insufficient supply while few customers ask for renting Charmvit Tower building in Tran Duy Hung Street.

Demand for renting retail space in center districts like Hoan Kiem, Hai Ba Trung, Ba Dinh and Dong Da is always overloaded against supply because these are seen as traditional shopping addresses with luxury brand names.

According to a report of Collier International Vietnam about Hanoi, center districts have a higher fulfilling ratio than outskirts (87 percent vs 75 percent) with the higher average rental ($30 vs $21). – Vietbbiz24

Tags: Vietnam retail market, Vietnam retail spaces

Posted by VBN on Apr 20 2011. Filed under Retail. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry