Vietnam is likely to see a rise of new international fashion, lifestyle, accessories, and sportswear brands in 2022. The country will see expansion of multi-brand stores as they are popular with consumers due to the diverse range of goods and affordable prices they offer. Well-known brands, like Uniqlo and Con Cung continue to launch new stores in Vietnam despite two years filled with uncertainty and lockdowns. And as An Tu Thi Hong, Director, Commercial Leasing, Savills points out retailers plan to expand stores and reinforce the importance of physical stores in their business plans, says.

Rent in Beijing, Shanghai, Guangzhou, Hanoi, and Ho Chi Minh City (HCMC) grew around 0.5 per cent to 13 per cent between 2019 and 2021. Landlords in HCMC did not continue supportive policies like direct discounts in the last quarter. As such, the average rent reached VND 1,150,000 month to month, a 2 per cent increase compared to the previous quarter, reveals Hong in Vietnam's Q4 2021 market report.

He further adds demand for properties in central business district or close to popular destinations will rise as they are reputable, desirable sites with a loyal customer base. Many Vietnam brands plan to launch once international flights reopen in 2022, This will drive retail leasing in the country adds Tran Pham Phuong Quyen, retail leasing manager of Savills HCMC.