Hanoi: Retail space for lease records best results in five years
Retail space for lease in Hanoi has recorded the best occupancy rate and rental prices in the last five years, according to Savills Vietnam.
Do Thu Hang, Deputy Director of Savills Hanoi’s research division, said the 8.1% rise in retail sales revenue has helped boost retail space occupancy. Meanwhile, personal consumption in Vietnam is forecast to keep growing at a fast pace compared to other regional countries. Inflation at below 5 percent is also a good sign for the retail market.
These factors have strongly supported the retail market, helping to augment occupancy to an ideal rate, she added.Property experts said Vietnam’s consumer confidence index has also reached a high level compared to the last five years, showing a bright prospect of the retail market as well as local consumers’ readiness to spend and optimism about their financial capacity. These are favourable factors for the retail space for lease market to continue flourishing.