Vietnam office rents to fall 7% in 2012, Jones Lang Lasalle says

Vietnam office rents to fall 7% in 2012, Jones Lang Lasalle says

Vietnam’s office rents will fall as much as 7 percent in 2012 because buildings are completed at a faster rate than business expansion, said Jones Lang LaSalle Inc., the world’s second-biggest commercial property broker.

The new properties will boost the nation’s grade A office space by about a third in 2012, pushing rents down by 5 percent to 7 percent, according to Jones Lang LaSalle Vietnam Co. Keangnam Hanoi Landmark Tower will add about 95,000 square meters (1 million square feet) when it opens later this year in the capital city as the nation’s tallest building.

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Real Estate in Vietnam