OFFICE MARKET OVERVIEW Q4.2024 AND 2025 OUTLOOK

VI EN

According to the report, the Grade A office vacancy rate decreased to 17.6%, indicating a positive recovery of the high-end segment in Ho Chi Minh City. The trend of moving to higher quality buildings continued as 53% of recorded transactions was expansion, mostly from the IT and Finance industries. The Grade B vacancy rate remained low at 11%, thanks to the interest of small and medium enterprises.

Rental prices in the central area of Ho Chi Minh City increased by 3.7% year-on-year, mainly due to the impact of the emergence of new buildings. In 2025, stock is expected to rise by 4% year-on-year, with over 110,000 m2 NLA coming from seven new projects and one re-entry. By 2027, 16 projects are expected to add more than 223,000 m² NLA, with approximately 70% of new Grade A and B supply targeting green certifications.

In addition to Cost and Asset Locations/Building Specifications, Employee Experience is also important factor influencing the decision to renew an office lease.

In 2025, the office rental market in Ho Chi Minh City is entering a period of vibrant development with many opportunities and challenges intertwined. Grade A offices are still attracting large international enterprises. However, pressure from oversupply requires investors to continuously improve service quality, amenities and design, towards green and sustainable standards.

Source:

- CBRE's Report: https://www.cbrevietnam.com/insights/reports/vietnam-market-outlook-2025

- Savills's Report: https://www.savills.com.vn/services/research/vietnam-quarterly-market-report-qmr-2024-q4.aspx

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