Vietnam

This is 53% fewer than the new launches in H1.

This is driven by the upcoming new supply of 64,000sqm.

And city fringe retail rents are projected to grow by 3.1%.

Both are seeing strong early leasing activities.

Projects due in Q4 are making good progress.

This is 1.6 times more than 2022’s stock levels.

The high vacancy rates of newly completed projects is a testament to this.

Transaction volumes grew 41% since the pre-COVID period.

But rents in the city fringe could increase by 9.5%.

Around 6,000 high-end apartments are expected to come onstream this year.

The Flamingo Holdings project Flamingo Golden Hill offers multi-colour, multi-functional shophouses and villas in a high-class green urban area.

The significant net takeup at Thiso Mall drove vacancy rate down to 5.6%.

It is a 23,000sqm project located in Dong Da District.

In 2023, CBD monthly rents are expected to decline 4.6% y-o-y to USD 45.6/sqm.

Flamingo Holdings win the Residential Development of the Year - Vietnam category at the recently held Real Estate Asia Awards 2023 for the success of its new development Flamingo Golden Hill.

Only 171 prime units were sold in the last quarter of 2022.