In Q1 2025, Vietnam's GDP is estimated to increase by 6.93% year-on-year, with growth observed in agriculture, industry, and services sectors. Nearly US$11 billion in foreign direct investment was attracted.
Residential Market: In Q1 2025, Hanoi launched over 5,300 new apartments, down 52% quarter-on-quarter but up 68% year-on-year. The supply mainly focused on integrated urban areas such as Vinhomes Ocean Park and Vinhomes Global Gate, with suburban areas dominating. The average primary apartment price reached approximately US$3,221/m², up 10% quarter-on-quarter and 36% year-on-year. The landed property market recorded 1,726 new transactions, up 93% quarter-on-quarter and 136% year-on-year, with an average primary selling price of US$12,427/m².
Retail Market: At the beginning of 2025, Hanoi welcomed an additional 13,600 m² of retail space from Aeon Mall Xuan Thuy in Cau Giay District. The overall occupancy rate reached 85.5%, slightly down by 0.11 percentage points quarter-on-quarter and 0.04 percentage points year-on-year. The average ground floor rent reached US$46.4/m²/month, up 3.3% quarter-on-quarter and 5.7% year-on-year.
Office Market: In Q1 2025, the office supply in Hanoi remained stable. Grade B offices saw the addition of ThaiSquare Caliria in the Fringe Central area. The occupancy rate for Grade A offices reached nearly 75%, and for Grade B offices, around 85%. The average rent for Grade A offices increased by 2.2% quarter-on-quarter, while the rent for Grade B offices decreased due to attractive incentives.
Industrial Park: In Q1 2025, the total industrial land supply in the Northern Key Economic Region remained stable at approximately 16,800 hectares, unchanged from the previous quarter. The average rent for industrial land increased slightly by 1.54% quarter-on-quarter and 5.6% year-on-year, reaching US$132/m²/lease term. Demand for industrial land continued to grow strongly, with a total net absorption area of 148 hectares, up 78.3% quarter-on-quarter.
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