With continuous exertion of effort over the past 9 months, IDJ Financial has seen positive changes to its A-Class office space rental business. Statistics from the Sales Department shows that: Long-term and short-term rental has increased by 10.84% and 14.74% respectively compared to last year.
Office Rental Market in 3rd quarter
According to the latest study on the office rental market in Hanoi carried out by Savills for the 3rd quarter of this year, Hanoi’s office supply increased 3% quarter-on-quarter (QoQ) and 20% year-on-year (YoY).
The average rent increased 1.9% QoQ after 12 consecutive quarters of decrease. Grade A average rent showed an improvement of 2.0% QoQ, while Grade B decreased by -0.8% QoQ and Grade C by -1.2% QoQ.
In Q4/2014, the market will receive approximately 38.000m2 from four projects. Two other projects have been completed for several quarters but not yet opened, and uncertainty remains regarding these dates. Until 2016, 31 projects supplying more than 615.000m2 will enter the market. All are under construction or fitting out.
Grade-A Office Space Rental at Charmvit Tower
According to statistics from the Sales Department, by Q3/2014, the fill rates of long-term rental and short-term rental had reached 66.52% and 93.84% respectively, increasing by 10.84% and 93.84% correspondingly YoY.
To date, long-term and short-term empty office supply is 1.851m2 and 221m2 respectively.
Observation has revealed that Grade-A Office market is reaching its stable state with an increase in supply in the quarter as well as the next 1 and 2 years. Accordingly, the Board of Management at IDJ Financial continues to offer even more flexible policies such as:
– Rent-free fitting-out period
– Discount for over-3-year contracts
Furthermore, to better improve the quality of Charmvit Tower office complex, 4 high-speed elevators were installed in August.
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