Despite the decline in global GDP growth forecasts, Vietnam is still receiving positive forecasts from domestic and international organizations. FDI inflows continued to be the bright spot while two important capital flows into real estate, namely bank credit and bonds were limited.
Real estate continued to rank second in the list of industries attracting total FDI of over US$3.5 billion, accounting for 18.7% of total registered investment capital. This number nearly doubled compared to the same period last year (nearly US$1.8 billion).
The occupancy rate of the whole market reached 93%, and the total accumulated supply of shopping malls, department stores, and commercial podiums reached 1 million sqm. The average rental price is US$48,3/sqm/month, up 5.6% over the same period last year.
From 2017 to 2019, Ho Chi Minh City saw an average of 80,000 sqm being supplied to the market every year; but in the past four years, there is no new supply recorded. However, future retail projects are on the rise, with approximately 140,000 sqm of floor space currently under construction. Some examples are: Thiso Mall in District 2 D2 (30,000 sqm), Vincom Megamall Grand Park in District 9 (44,000 sqm), Satra Center Mall in District 6 (24,000 sqm), IFC One Saigon in District 1 (6,647 sqm) and The Pearl in District 1 (32,715 sqm).
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