Hanoi office rents dropped slightly in Q3-2016

The most recent report from Savills Vietnam revealed that in the third 1 fourth of 2016, Hanoi’s office market saw a slight drop in rents.

Hanoi workplace rents declined slightly with Q3-2016

Hanoi office rent dropped slightly in the next quarter of 2016

In line with the report, due to downward adjustments to both Grade The and C office space, the normal rents in Q3 was lost 0. 5% quarter-on-quarter yet up 3% year-on-year.

At the same time, average occupancy recorded a growth of 2. 2 ppts on the previous quarter and installment payments on your 8 ppts over the same period last year. In particular, Rank A went up 2 . 3 ppts and Grade B rose 2 . being unfaithful ppts quarter-on-quarter.

Office source in Hanoi remained stable quarter-on-quarter but climbed 9% compared to last year. A new task is expected to launch within the final quarter of the yr, adding nearly 11, 500 sq m to the market place.

The total take-up of the complete market reached about twenty-three, 000 sq m. Exclusively, Grade B led the market industry with nearly 18, 000 sq m, followed by Class A (8, 400 sq m) and Grade C (4, 300 sq m).

Office supply is likely to rise significantly in the coming time. Ba Dinh as well as Dong Da districts along with the West of the city have already been the new focuses since serviced office space segment has become progressively more popular.

During the third 1 / 4, Hanoi market also experienced a booming growth within co- working space and serviced office which advantages of flexibility and convenience. Using these kinds of offices, occupiers can offer a private working room or even use general offices along with amenities such as bar, cafe, wireless Internet and printing locations.