Hanoi (VNA) – Strongdemand will ensure stable absorption of office space in Hanoi in the secondhalf of 2022, according to real estate services firms CBRE.
CBRE experts said rentalprices for both Grade-A and B offices in the capital city will also stay stablein H2.
Three Grade-A office projectsand two Grade-B ones will be unveiled in the last six months, they said, notingthat most of new supplies will come from outlying areas.
Total office supplies in H1surpassed 1.6 million square metres, 38% of which were from Grade-A projects.
Despite limited supplies,more than 20,000 square metres of offices were rented during the reviewedperiod, and most of the absorbed space belonged to Capital Place – a Grade-A projectin Ba Dinh district.
Following the improvementtrend in the previous quarter, rental prices in Q2 continued to increase. They stoodat 28.7 USD per spare metre each month for Grade-A offices, up 4% quarter onquarter and 5.8% year on year; and at 14.3 USD for Grade-B ones, up 1.8%quarter on quarter and 2.6% year on year, according to CBRE.
The office vacancy rate in Q2declined to 16.6% among Grade-A offices, down 2.3% quarter on quarter and 4.5%year on year, and to 10.4% among Grade-B ones, down 0.3% quarter on quarter and1.3% year on year.
Such sectors as information technology,banking, finance, and insurance still took the lead in the office market whenthey accounted for 37% of total transactions in Hanoi.
Many of the transactions weremade by domestic real estate companies that opened new offices in the city. Particularly,the co-working space market rebounded as they made up 17% of total transactionsin H1, CBRE found./.
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Capital Palace building (Photo: VNA) 
