Asia Pacific Office Outlook 2024

HANOI

NEW SUPPLY

N EW S U P P LY ( S QM )

120,000

FORECAST

100,000

 Hanoi welcomed 41,600 sqm of new supply in the first 10

80,000

months of 2023, with another 39,000 sqm

expected to launch by the end of the year. All of these projects are located in the Secondary submarket.  Four more projects from the western part of Hanoi will join the market in 2024 and 2026, adding nearly 100,000 sqm of quality supply.  On average, Hanoi’s total stock will grow by 3.5% per annum throughout the 2023– 2027 period.

60,000

40,000

20,000

-

2021

2022

2023F

2024F

2025F

2026F

2027F

Source: Cushman & Wakefield