Vietnam's real - estate market report Comprehensive Report Q1/2020
Vietnam Real Estate Market
In 2019, foreign investors continue to gain the upper hand in prominent M&A events in Vietnam's real estate market. Retail: optimistic movements when the supply (in Hanoi) and the average absorption rate increase. Office: new supply is still coming from Grade B offices. Rents have increased steadily due to meeting customer requirements, with occupancy rates of over 90%. Industrial park: Constant supply. Occupancy rate, rent is constantly improving. Apartments for rent: Hanoi market in the fourth quarter with additional Grade A apartments, HCMC market. HCM did not record additional supply, prices and vacancy rates were maintained stable.
Hotel: supply decreased in both areas, prices and occupancy rates increased sharply due to the increase in tourists. Apartments for sale: The supply has increased in both Hanoi and Ho Chi Minh City. HCM, sales increased due to the market demand is still very high. Villa, adjacent: Hanoi continues to record growth in both new supply as well as the number of units sold in the city. HCM City is in short supply again due to slow business licensing.
In 2019, foreign investors continue to gain the upper hand in prominent M&A events in Vietnam's real estate market. Retail: optimistic movements when the supply (in Hanoi) and the average absorption rate increase. Office: new supply is still coming from Grade B offices. Rents have increased steadily due to meeting customer requirements, with occupancy rates of over 90%. Industrial park: Constant supply. Occupancy rate, rent is constantly improving. Apartments for rent: Hanoi market in the fourth quarter with additional Grade A apartments, HCMC market. HCM did not record additional supply, prices and vacancy rates were maintained stable.
Hotel: supply decreased in both areas, prices and occupancy rates increased sharply due to the increase in tourists. Apartments for sale: The supply has increased in both Hanoi and Ho Chi Minh City. HCM, sales increased due to the market demand is still very high. Villa, adjacent: Hanoi continues to record growth in both new supply as well as the number of units sold in the city. HCM City is in short supply again due to slow business licensing.
Abbreviations
Executive summary
Business environment
1.1 Macroeconomic situation
1.2 Legal framework
1.3 Trade agreements
Vietnam’s Real Estate Market
2.1 Definition and characteristics
2.2 Periods of volatility in Vietnam's real estate market
2.3 Real estate market trends
2.3.1 Real estate for rent
2.3.2 Real estate for sale
2.4 Risks and threats
2.4.1 Risks
2.4.2 Threats
2.4.3 SWOT
2.5 Housing development planning
2.6 Driving forces
2.7 M&A trend
Enterprise analysis
Appendix
Financial statements
Executive summary
Business environment
1.1 Macroeconomic situation
1.2 Legal framework
1.3 Trade agreements
Vietnam’s Real Estate Market
2.1 Definition and characteristics
2.2 Periods of volatility in Vietnam's real estate market
2.3 Real estate market trends
2.3.1 Real estate for rent
2.3.2 Real estate for sale
2.4 Risks and threats
2.4.1 Risks
2.4.2 Threats
2.4.3 SWOT
2.5 Housing development planning
2.6 Driving forces
2.7 M&A trend
Enterprise analysis
Appendix
Financial statements
LIST OF FIGURES
Figure 1: GDP growth by quarter, 2016 - 2019
Figure 2: Foreign direct investment, 2013 - 2019
Figure 3: Average interest rate, 2013 – 2019
Figure 4: CPI movement by month, 1/2015 - 12/2019
Figure 5: Consumer Confidence Index, 2016 – Q3/2019
Figure 6: Number of enterprises in Vietnam real estate business, 2013-2018
Figure 7: Labours in real estate industry, 2013-2018
Figure 8: Net sales of real estate , 2013-2018
Figure 9: Profit before tax of real estate industry, 2013-2018
Figure 10: Total supply by sector, 2019
Figure 11: Retail supply by area , 2019
Figure 12: Vacancy rate and rental, Q4/2019
Figure 13: Supply of shopping center for rent, 2013- 2019
Figure 14: Shop center rents and vacancy rates, 2014- 2019
Figure 15: Total retail supply, 2019
Figure 16: Retail supply by area, 2019
Figure 17: Asking rent and vacancy rate by area, Q4/2019
Figure 18: Total supply of shopping centre, 2013-2019
Figure 19: Shopping centre rents and vacancy rates, 2013-2019
Figure 20: Retail space for lease by purpose, 2015
Figure 21: Retail space for lease by purpose, 2018
Figure 22: Total supply by grade and area, 2019
Figure 23: Office rents, Q1/2016- Q4/2019
Figure 24: Average rent price by area, Q4/2019
Figure 25: Office for lease by business line, 2019
Figure 26: Cumulative office supply and vacancy, Q1/2017-Q4/2019
Figure 27: Supply and vacancy by grade, 2019
Figure 28: Office rents, Q1/2016-Q4/2019
Figure 29: Office for lease by business line, 2019
Figure 30: Co-working space for lease by business type, 2018
Figure 31: Total Supply by area, Q4/2019
Figure 32: Rents by area, Q4/2019
Figure 33: Northern Industrial park’s supply and vacancy, 6/2019
Figure 34: Northern Industrial park’s average rents, Q2/2019
Figure 35: Supply and vacancy , Q4/2019
Figure 36: Rents by area, Q4/2019
Figure 37: Southern cumulative supply and vacancy, Q4/2019
Figure 38: Factory rents by area, 2013 – 2019
Figure 39: Industrial land rents by area, 2013 – 2019
Figure 40: Supply of serviced apartment, 2019
Figure 41: Asking rent by grade, Q1/2017-Q4/2019
Figure 42: Apartment rents and occupancy rate, Q1/2017-Q4/2019
Figure 43: Cumulative supply of serviced apartment by grade and vacancy rate, 2019
Figure 44: Apartment rentas by grade, 2019
Figure 45: Hotel supply in Hanoi, Q1/2017 – Q4/2019
Figure 46: Hotel room prices and occupany rates, Q1/2017-Q4/2019
Figure 47: Hotel supply in HCMC, Q1/2017-Q4/2019
Figure 48: Hotel room average price and occupancy rate, Q1/2017-Q4/2019
Figure 49: Supply of condominium by segment, Q4/2019
Figure 50: Condominium selling prices and absorption rates by segment, Q4/2019
Figure 51: New launch supply by segment, Q4/2019
Figure 52: Condominium selling prices and absorption rates by grade,Q4/2019
Figure 53: Villa/townhouse supply, Q1/2017-Q4/2019
Figure 54: Villa and townhouse secondary price movements,Q1/2017-Q4/2019
Figure 55: Cumulative supply of villa and townhouse, 2017 – 2019
Figure 56: Comparison between house price and income in Vietnam, 2011 – 2019
Figure 57: Real estate inventory value, 6/2015 – 4/2019
Figure 58: Logistics performance index in some countries, 2018
Figure 59: Average invest capital by mode of transport,2018
Figure 60: LPI rank of Vietnam, 2010-2018
Figure 61: Urbanization, 2013 - 2019
Figure 62: Average income and spending per month, 20010 – 2019
Figure 63: Real estate’s outstanding loans, 2013 - 2019e
Figure 64: Structure of real estate’s outstanding loans, 2018
Figure 65: Population by class (income), 2013 – 2020f
Figure 66: Number of international and domestic tourists in Vietnam, 2013 - 2019e
Figure 67: Real estate industry’s revenue, 2010-2022f
Figure 68: Net revenue growth, 2017-2018
Figure 69: Gross profit growth, 2018
Figure 70: Liquidity ratios, 2018
Figure 71: Receivable turnover, 2018
Figure 72: Solvency retios, 2018
Figure 73: Asset turnover, 2018
Figure 74: Fixed asset turnover, 2018
Figure 75: G&A expenses to net revenue, 2017-2018
Figure 76: Interest Expenses to net revenue, 2016 - 2017
Figure 77: Salling expenses to net revenue, 2017-2018
Figure 78: Rate of return, 2018
Figure 79: Supermarket distribution in Vietnam’s 3 regions, 2017
Figure 80: Retail market share in Vietnam, 2016
Figure 1: GDP growth by quarter, 2016 - 2019
Figure 2: Foreign direct investment, 2013 - 2019
Figure 3: Average interest rate, 2013 – 2019
Figure 4: CPI movement by month, 1/2015 - 12/2019
Figure 5: Consumer Confidence Index, 2016 – Q3/2019
Figure 6: Number of enterprises in Vietnam real estate business, 2013-2018
Figure 7: Labours in real estate industry, 2013-2018
Figure 8: Net sales of real estate , 2013-2018
Figure 9: Profit before tax of real estate industry, 2013-2018
Figure 10: Total supply by sector, 2019
Figure 11: Retail supply by area , 2019
Figure 12: Vacancy rate and rental, Q4/2019
Figure 13: Supply of shopping center for rent, 2013- 2019
Figure 14: Shop center rents and vacancy rates, 2014- 2019
Figure 15: Total retail supply, 2019
Figure 16: Retail supply by area, 2019
Figure 17: Asking rent and vacancy rate by area, Q4/2019
Figure 18: Total supply of shopping centre, 2013-2019
Figure 19: Shopping centre rents and vacancy rates, 2013-2019
Figure 20: Retail space for lease by purpose, 2015
Figure 21: Retail space for lease by purpose, 2018
Figure 22: Total supply by grade and area, 2019
Figure 23: Office rents, Q1/2016- Q4/2019
Figure 24: Average rent price by area, Q4/2019
Figure 25: Office for lease by business line, 2019
Figure 26: Cumulative office supply and vacancy, Q1/2017-Q4/2019
Figure 27: Supply and vacancy by grade, 2019
Figure 28: Office rents, Q1/2016-Q4/2019
Figure 29: Office for lease by business line, 2019
Figure 30: Co-working space for lease by business type, 2018
Figure 31: Total Supply by area, Q4/2019
Figure 32: Rents by area, Q4/2019
Figure 33: Northern Industrial park’s supply and vacancy, 6/2019
Figure 34: Northern Industrial park’s average rents, Q2/2019
Figure 35: Supply and vacancy , Q4/2019
Figure 36: Rents by area, Q4/2019
Figure 37: Southern cumulative supply and vacancy, Q4/2019
Figure 38: Factory rents by area, 2013 – 2019
Figure 39: Industrial land rents by area, 2013 – 2019
Figure 40: Supply of serviced apartment, 2019
Figure 41: Asking rent by grade, Q1/2017-Q4/2019
Figure 42: Apartment rents and occupancy rate, Q1/2017-Q4/2019
Figure 43: Cumulative supply of serviced apartment by grade and vacancy rate, 2019
Figure 44: Apartment rentas by grade, 2019
Figure 45: Hotel supply in Hanoi, Q1/2017 – Q4/2019
Figure 46: Hotel room prices and occupany rates, Q1/2017-Q4/2019
Figure 47: Hotel supply in HCMC, Q1/2017-Q4/2019
Figure 48: Hotel room average price and occupancy rate, Q1/2017-Q4/2019
Figure 49: Supply of condominium by segment, Q4/2019
Figure 50: Condominium selling prices and absorption rates by segment, Q4/2019
Figure 51: New launch supply by segment, Q4/2019
Figure 52: Condominium selling prices and absorption rates by grade,Q4/2019
Figure 53: Villa/townhouse supply, Q1/2017-Q4/2019
Figure 54: Villa and townhouse secondary price movements,Q1/2017-Q4/2019
Figure 55: Cumulative supply of villa and townhouse, 2017 – 2019
Figure 56: Comparison between house price and income in Vietnam, 2011 – 2019
Figure 57: Real estate inventory value, 6/2015 – 4/2019
Figure 58: Logistics performance index in some countries, 2018
Figure 59: Average invest capital by mode of transport,2018
Figure 60: LPI rank of Vietnam, 2010-2018
Figure 61: Urbanization, 2013 - 2019
Figure 62: Average income and spending per month, 20010 – 2019
Figure 63: Real estate’s outstanding loans, 2013 - 2019e
Figure 64: Structure of real estate’s outstanding loans, 2018
Figure 65: Population by class (income), 2013 – 2020f
Figure 66: Number of international and domestic tourists in Vietnam, 2013 - 2019e
Figure 67: Real estate industry’s revenue, 2010-2022f
Figure 68: Net revenue growth, 2017-2018
Figure 69: Gross profit growth, 2018
Figure 70: Liquidity ratios, 2018
Figure 71: Receivable turnover, 2018
Figure 72: Solvency retios, 2018
Figure 73: Asset turnover, 2018
Figure 74: Fixed asset turnover, 2018
Figure 75: G&A expenses to net revenue, 2017-2018
Figure 76: Interest Expenses to net revenue, 2016 - 2017
Figure 77: Salling expenses to net revenue, 2017-2018
Figure 78: Rate of return, 2018
Figure 79: Supermarket distribution in Vietnam’s 3 regions, 2017
Figure 80: Retail market share in Vietnam, 2016
LIST OF TABLES
Table 1: Increase or decrease in CPI of goods and services, 2019
Table 2: Upcoming key project scheduled to launch in 2020
Table 3: Upcoming key project scheduled to launch in 2020
Table 4: Key project in 2019
Table 5: Key project scheduled to launch in 2020
Table 6: Large office transactions (>1000m2) in Hanoi, 2018
Table 7: Key projects in 2019
Table 8: Large office leasing transactions in HCMC, 2018
Table 9: Key projects in the period of 2019-2022
Table 10: Key projects in HCMC in the period of 2019 - 2023
Table 11:Upcoming key serviced apartment projects in Hanoi
Table 12:Key projects scheduled to launch in coming years
Table 13:Key projects in Q4/2019
Table 14: Key projects scheduled to launch in the coming years
Table 15: Key projects in coming years
Table 16:The 20 cities with the highest house price on income per capita in the
Table 17: World in 2019
Table 18: Vietnam’s LPI, 2007- 2018
Table 19: Big shopping malls of AEON in Vietnam
Table 20: TOP REAL ESTATE ENTERPRISES BY REVENUE 2018
Table 1: Increase or decrease in CPI of goods and services, 2019
Table 2: Upcoming key project scheduled to launch in 2020
Table 3: Upcoming key project scheduled to launch in 2020
Table 4: Key project in 2019
Table 5: Key project scheduled to launch in 2020
Table 6: Large office transactions (>1000m2) in Hanoi, 2018
Table 7: Key projects in 2019
Table 8: Large office leasing transactions in HCMC, 2018
Table 9: Key projects in the period of 2019-2022
Table 10: Key projects in HCMC in the period of 2019 - 2023
Table 11:Upcoming key serviced apartment projects in Hanoi
Table 12:Key projects scheduled to launch in coming years
Table 13:Key projects in Q4/2019
Table 14: Key projects scheduled to launch in the coming years
Table 15: Key projects in coming years
Table 16:The 20 cities with the highest house price on income per capita in the
Table 17: World in 2019
Table 18: Vietnam’s LPI, 2007- 2018
Table 19: Big shopping malls of AEON in Vietnam
Table 20: TOP REAL ESTATE ENTERPRISES BY REVENUE 2018
