Outlook 2023 Vietnam
DEMAND & VACANCY
NET ABSORPTION (SQM) AND VACANCY RATE (%)
Tenant demand in 2022 has been driven by industries such as Insurance, Finance/Banking, Manufacturing, E-commerce, and Logistics. High-quality new supply remains desirable and in high demand. A flight to quality is driving the market as tenants chase limited prime space and newer and better developed large-scaled projects in non-CBD areas. Healthy net absorption is expected across the market in the upcoming years. Vacancy is expected to head higher before easing in 2026 once new supply stabilises.
2022F 2023F 2024F 2025F 2026F Net Absorption Vacancy Rate
Source: Cushman & Wakefield
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