The outbreak of the Covid-19 epidemic made the real estate market in general and the office for lease market in particular fluctuate significantly because tenants returned part or all of the premises to limit the costs when business figure goes down. However, the office for lease market is showing signs of strong recovery after the pandemic.
Hanoi still attracts a lot of attention from tenants due to its anti-epidemic effectiveness and potential socio-economic development in the future. And the central area of Hanoi – Hoan Kiem district is always the choice of businesses that want to develop in the long term and take advantage of good location.
Overview of the office for lease in Hoan Kiem district
Hoan Kiem District is known as the Political-Commercial-Financial center of Hanoi, this is home to many states with developed infrastructure, so this area is always an big attraction for businesses.
Offices for lease in Hoan Kiem district are always attractive to businesses, so the occupancy rate of office for lease is always high. Known as the area with the most Grade A office for lease in Hanoi, it is promising that Hoan Kiem District still has a “well-lived” office market in the pandemic.
In addition to the great demand for high-end offices, the low-cost office segment here is also receiving a lot of attention.
Traffic location of Hoan Kiem district
Office for lease Hoan Kiem district is considered the central district of Hanoi, the Northwest borders Ba Dinh district and Dong Da district, the South borders Hai Ba Trung district, the Red River is along from the North to the South.
The district includes 18 wards: Cua Nam, Hang Bai, Trang Tien, Ly Thai To, Dong Xuan, Hang Ma, Cua Dong, Hang Gai, Tran Hung Dao, Phan Chu Trinh, Hang Bac, Hang Buom, Hang Dao, Hang Bo, Hang Bong, Hang Trong, Chuong Duong, Phuc Tan.
In addition, this is home to many states, headquarters, corporations, historical-cultural relics along with developed infrastructure, so this area is always a great attraction for businesses. Although in recent years, Hanoi tends to develop to the West, but the Hoan Kiem area is still an important commercial and financial center and is the first choice of national companies and banks. With the advantages of location, choosing an office to work here not only brings convenience in trade but also helps bring brand reputation to customers.
Types of offices for lease in Hoan Kiem district
In general, office for lease in Hoan Kiem district have a high price compared to other in Hanoi. The office for lease market here mainly focuses on the high-end office segment with many modern Grade A buildings such as: ThaiHoldings Tower, Leadvisor Place, Hanoi Tower, BIDV Tower, … some buildings Grade B stands out such as TNR Tower, Capital Building, … along with many other Grade C buildings. Most of Grade A and B office buildings for lease in Hoan Kiem District are concentrated in main streets such as Tran Hung Dao, Ly Thuong Kiet, Ngo Quyen, Tran Quang Khai, …
Potential for office for lease in Hoan Kiem district
In addition to the economic development of Hoan Kiem district, the priority policies to attract investment from domestic and foreign investors to increase the demand for more and more offices.
Here there are more development conditions.
With the advantages of location near important traffic routes, near administrative offices, the segment of Grade A office for lease in Hoan Kiem district will become the top concern of FDI enterprises. It can be affirmed that high-end office buildings for lease will be stable and grow steadily in the future. Accordingly, Grade B buildings here will also have changes and upgrades for investors to improve customer care activities such as building service issues, building renovation and remodeling house as well as other systems to “score points” for enterprise looking for offices for rent.
