The property markets in Hanoi and HCMC are experiencing a surge in activity, with growth seen across the retail, condominium, and office segments. New developments and rising demand are driving the market, and thus offering diverse opportunities for investors and homebuyers alike. Retail growth driven by changing consumer behavior According to a recent report by Savills, Hanoi’s retail market showed signs of recovery in the third quarter, fueled by strong demand for retail podiums and a boost in tourism. While overall occupancy dipped slightly, retail podiums saw occupancy increasing, reflecting their growing appeal to both tenants and consumers. Trinh Huynh Mai, associate director of Commercial Leasing at Savills Hanoi, explained that the demand for retail podiums is supported by favorable catchment areas and the growing adoption of revenue-sharing rent models by shopping centers. Previously used mostly by department stores, revenue-sharing rent models are gaining traction in Hanoi’s major shopping centers, as landlords seek to optimize returns and attract tenants. This trend is expected to continue. Savills data showed a 2% increase in Hanoi’s total retail stock both quarter-on-quarter and year-on-year, with the addition of one new shopping center and two retail podiums. Shopping centers make up 63% of the total […]
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