Hanoi still lacks high-end retail space
Source: 19-JUL-2008 Intellasia | Hanoi Moi
Jul 19, 2008 - 7:00:00 AM CBRE, specialising in providing services of real estate consultancy and management, reported that although Hanoi's real estate market now seems to be quiet along with the slowdown in economy and high inflation, the demand on high-grade retail space is still increasing sharply due to the limited supply.

In some big trade centres of Hanoi, the leasing price currently averages at US$65 a square metre a month, equalling to that of the third quarter of 2008.

Most recently, in the second quarter, the Dong Da District's Grade B trade centre Ha Thanh Plaza was inaugurated whereby extra 10,000 square metres of retail space were supplied to the market. However, due to a not much advantageous location, Ha Thanh Plaza has attracted domestic retailers only. 80% of ground floor of the building was rented already and the second floor was for Unimart supermarket, but the total area of Floor 3 to Floor 5 has been in the leasing process with a fairly slow speed.

According to the global retail growth index announced annually by A.T.Kearny, Vietnam is the most attractive retail market among 30 developing countries.