Foreign investors see opportunities in Hanoi office building Foreign investors have shown increasing interest in grade A offices in Hanoi, according to Savills Vietnam. Hanoi is one of the two most dynamic office markets in Vietnam and high demand and limited vacant space are pushing rents up. The latest Savills research found demand has remained stable throughout the pandemic while most other real estate segments saw significant declines. In the first three quarters of this year, Hanoi’s GRDP increased by 3.3 percent year-on-year, while national GDP increase 2.1 percent. The Asia Development Bank forecasts Vietnam GDP will increase by 1.8 percent this year, while other Southeast Asian countries are set to decline. With a 6.3 percent growth forecast for 2021, Vietnam will lead Southeast Asia. Free trade agreements (FTAs) will positively affect market performance because of tariff commitments, high competitiveness, strong foreign direct investment (FDI) and economic growth. Continuing US-China trade tensions will see more multinationals mulling manufacturing shifts to Vietnam. Overseas tenants, particularly FDI enterprises, are interested in quality office space. Hoang Nguyet Minh, Savills Vietnam Associate Director of Investment, said: “There are core factors that make Hanoi offices one of the most attractive segments for overseas investors looking for a position in Vietnamese real estate.” First… Read full this story
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