Office leasing activities are bustling

The real estate market report for the third quarter of 2023 published by Savills shows that the office supply in Hanoi in the last quarter reached 2.16 million m2, up 1% quarter-on-quarter and 2% year-on-year with the entry of Lotte Mall West Lake Hanoi, bringing 23,000 m2 to the market.

Since 2019, the supply of Grade A offices in Hanoi has increased by 4%, Grade B by 5% and Grade C by 1% per year. Of which, the Western area (including Cau Giay, Bac Tu Liem and Nam Tu Liem districts) is recorded to have the largest supply, accounting for 41% of the market share, equivalent to 875,800 m2.

Meanwhile, the inner city area (including Dong Da, Hai Ba Trung, Ba Dinh, Thanh Xuan and Tay Ho districts) had the largest growth rate, equivalent to 3% compared to the same period last year.