Vietnam retail occupancy rates rise in Hanoi and Ho Chi Minh City

Retail occupancy rates in Vietnam's major cities saw an increase in the second quarter of 2026. According to a report by Cushman & Wakefield, Hanoi's retail occupancy reached 87.9%, up 1.5 percentage points from the previous quarter and 2.6 percentage points year-on-year.

In Ho Chi Minh City, the core area achieved a 97% occupancy rate, while expanded areas maintained levels between 93.6% and 95.1%. Rental prices also trended upward; ground floor space in Hanoi reached $51.8 per square meter per month, a 10% year-on-year increase, while core areas in Ho Chi Minh City reached $54.9 per square meter per month, up 2.9% year-on-year.

The growth is attributed to strong absorption of existing supply rather than a massive influx of new space. Demand is being driven primarily by the Food & Beverage (F&B) and entertainment sectors, alongside lifestyle, fashion, and accessories. New flagship stores and brands have entered the Hanoi market, signaling a shift toward using retail spaces for experiential purposes rather than just product displays.