GDP growth was 7.1% in 1H/2018, the highest 1H growth for the last seven years. Industry and construction were the main contributors, followed by the service sector.
Trade balance was positive with a surplus of US$2.7 billion due to strong export value of US$114 billion. The USA and EU remain the main export markets.
Registered FDI was over US$20 billion in 1H/2018 with Japan being the largest contributor. Disbursed FDI reached US$8.4billion, up 8% YoY.
International visitors were robust with 7.9 million, up 27% YoY.
RETAIL: F&B TREND GROWS
Total stock was over 1.2 million m2, with no new supply was unchanged quarter-on-quarter(QoQ).
Average gross rent increased slightly 1%QoQ whilst occupancy was stable due to flexible leasing terms to short-term tenants and no new supply.
The market saw strong growth in retail sales of 10% year-on-year (YoY); notably, F&B services grew 11.8% YoY, higher than last year’s figure of 3.4 percent. Supporting this trend, the proportion of F&B brands in large retail centers now ranges from 30-50 percent. In 2H/2018,a large amount of new supply will place pressure on Districts 2, 7, Tan Binh and Binh Thanh.
For more information, click 060718 – Savills Vietnam report on HCMC real estate market Q2.2018 – EN
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