Outlook 2023 Vietnam

HANOI

RENT GROWTH

RENT (USD/SQM/MO) AND RENT GROWTH (% PER ANNUM)

FORECAST

8.0%

35.0

 Rents are expected to rise by nearly 4% by the end of 2022, driven by the influx of high-quality new supply with higher asking rents. Accordingly, citywide average gross rent is projected to be at US$34/sqm/mo.  Afterwards, rents are expected to remain stable as competition from non-CBD areas becomes more prominent.

34.5

6.0%

34.0

4.0%

33.5

2.0%

33.0

0.0%

32.5

-2.0%

32.0

31.5

-4.0%

2020

2021

2022F 2023F 2024F 2025F 2026F USD/SQM/MO Rent growth (%)

Source: Cushman & Wakefield