Companies in sectors less affected by the economic crises and those with deep pockets are driving transactions in the HCM City office market, analysts have said.
Savills Hanoi''s report on the office market in the first nine months of 2023 stated that the gross rent of VNĐ513,000 per sq.m per month increased by 2 per cent quarter on quarter, primarily fuelled by an uptick in Grade...
HCM City’s office market has witnessed its first positive signs in the first half of this year since being affected by the COVID-19 pandemic for the previous two years, experts said.
The office market in Ha Noi is experiencing many changes amid the COVID-19 pandemic in terms of rental prices, occupational profile and new demands for office spaces, according to Savills Vietnam.
With limited vacancies and high rents in the central business district in HCM City, non-CBD supply will continue to deliver affordable office space and keep a ceiling on rents, according to Savills Viet Nam.
The office market in Vietnamese cities like Ha Noi and HCM City is likely to recover faster post-Covid than other major cities in the Asia Pacific, experts have predicted.
The Ha Noi office market fared relatively well in the first quarter this year despite the novel coronavirus COVID-19 outbreak, according to CBRE Viet Nam.
The flexible office market in HCM City comprising co-working and serviced offices is among the fastest growing in the Asia Pacific, market researchers said.
Growth in the domestic office market has continued this year and is set to remain at record levels well into the future after more than 7 per cent growth in grade A rents last year, according to Savills Viet Nam.
In the second half of 2015 the HCM City office market is expected to
add more than 100,000sq.m of office space from one grade A and three
grade B projects, according to the latest report from Cushman and
Wakefield on the city real...