According to Savills Vietnam's announcement of Hanoi real estate market information for the third quarter of 2025, the Hanoi retail market recorded positive developments with increased rental prices and improved capacity.
The total modern retail supply reached 1.8 million m2 of floor space, in which shopping malls still dominated. The capacity increased by 1 percentage point per year, reaching 85%, thanks to the successful repositioning of shopping malls to attract young customers.
The rental price of ground-floor floors increased by 3% in all subdivisions to 1.3 million VND/m2/month. The Central region recorded the highest increase, while areas outside the Central region had moderate increases.
Matthew Powell - Director of Savills Hanoi said that the inner city area recorded the highest retail density, reaching 0.5 m2/person, consolidating its position as the main retail center of Hanoi, while the central area was limited by land fund, contributing only a small part to the total supply.
Traffic-oriented developed areas such as Cau Giay, Thanh Xuan and Ha Dong are emerging as vibrant retail centers, with improved connectivity thanks to metro lines and the increasing number of people passing by.
These areas are gradually narrowing the rental price gap with the Central area, while the culinary and lifestyle brand group continues to lead new demand, reflecting sustainable consumer demand and increasingly high interest from young customers.
By the end of 2025, the market will welcome more than 84,000 m2 of floors from three new projects. In the 2026 - 2028 period, the supply is expected to increase by more than 330,000 m2 of floor space, mainly at Starlake.
The large number of handover in 2027 - 2028 can increase competition and the risk of supply surplus if the projects do not have a clear difference in strategy.
"Lifetime and culinary brands continue to launch many new levels, showing sustainable consumer demand and reflecting the increasingly high consumer experience trend" - Matthew Powell said.
