GDP growth achieved 7.4% in Q1/2018, the highest in Q1 for the last 10 years. The main driver was the industry and construction sector, followed by services. Inflation was well-controlled with CPI increasing by 2.8% year on year (YoY).
Strong export value of US$54billion resulted in a trade surplus of US$1.3 billion. The EU is the largest export market, followed by the USA.
International visitors continued to trend up with 4.2 million arrivals, up 31% YoY.
Total registered FDI was US$5.7billion, with Korea as the largest contributor. Disbursed FDI reached US$3.8billion, up 7% YoY.
RETAIL: SOFT PERFORMANCE IN NON-CBD
Total stock was over 1.2 million m2 with 73,000 m2 added from the entry ofthree new supermarkets and two shopping centers. Three closures and threechanged uses withdrew 39,200 m2.
Average gross rentdecreased slightly-1% quarter-on-quarter (QoQ). Average occupancy had a slight decrease of -1ppts due tonew supply in non-CBD with low rent and occupancy. New fashion brands and international F&B entries replaced unappealing tenants.
Sales focused on F&B, clothes and household appliances. Automated convenience and click-to-brick become popular. E-commerce continuously attracted investment, with Amazons entry announcement a highlight.
For more information, click 100418 – Savills Vietnam report on HCMC real estate market Q1.2018 – EN
OTHER NEWS ON THE AUSCHAM WEBSITE
In the toolbar of this website, click on “NEWS” for the drop down menu which includes: