Summary and analysis of Hanoi's current retail real estate market conditions.
Insight
25 November 2025
Hanoi Retail Market Dynamics Q4 2025
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The Hanoi retail market recorded net absorption of 3,400 sqm in Q4, driven by robust City Fringe demand, while City Centre experienced minor negative absorption.
No new prime mall supply was added in 2025. City Centre vacancy edged up to 4.6%, while City Fringe vacancy improved to 6.1% on flexible leasing. Average City Centre rents rose 3.0% y-o-y to USD 134.4/sqm/month; Fringe rents stayed stable at USD 54.7/sqm/month.
Looking ahead, Hanoi Centre will open in Q1 2026, bringing 42,000 sqm of new supply. Major City Fringe malls will follow through 2028. Growth is expected in F&B, lifestyle, and entertainment sectors, with innovation in tenant mix as competition intensifies.
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