Ha Noi short of office space, apartments

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php?cat=23'> serious imbalance between supply and demand in office space, apartments and hotel rooms in Ha Noi, said Marc Townsend, general director of CB Richard Ellis, an international real estate and property management company.
the third quarter of the year, Townsend said at a briefing on the Ha Noi real estate on Tuesday.

buildings in the capital city have occupancy rates of 95-99 per cent. Buildings under construction and expect to receive tenants in November and December, including the North Asia Tower, Opera Business Centre, and Pacific Place (which will be operational in March 2007), are already 45-75 per cent leased.
prices continues.

Leasing an A-class office averages about US$35 per sq.m per month, excluding service fees and value-added tax, an increase of 15 per cent over the same period last year.
once the new buildings become operational in the next few months, the market would cool down, and rents would fall to an average of $30-34 per sq.

m per month.
however, a long-term under-supply woud need to be addressed, or Viet Nam is short of apartments and hotel capacity. The market currently has a total of 1,222 apartments and 3,238 hotel rooms with an occupancy rate of 98.

74 per cent and 77 per cent, respectively.
in the first quarter of 2007. But a lack of luxury apartments and high rents are where they can rent apartments and villas, furnished or unfurnished, at prices of $600 - $3,500 per month.

in the hospitality and tourism sectors, either to buy shares in existing, well-performing hotels or to develop new hotel properties.