VIETNAM OFFICE MARKET OVERVIEW 2023

Let's review some highlights of the office market in 2023:

- New supply surged in 2023 with the domination of Grade A

- Main leasing purpose: Flight-to-quality relocation

- Finance/Banking/Insurance remain the driving motives

Source/ Read full report: https://www.cbrevietnam.com/insights/books/vietnam-market-outlook-2024


news relative
Hanoi Grade A office rents to slightly rise in last months of 2022
Total new supply in Hanoi office market is estimated at 103,600 square meters in 2022.
VIETNAM REAL ESTATE INVESTMENT MARKET OVERVIEW AND OUTLOOK 2022
The Covid-19 outbreak caused great disruptions to the Vietnam real estate market in the year 2020 to 2021. However, production and business activities have since gradually regained growth momentum, and the Government's policy to push socio-economic recovery and development has shown positive effects since the beginning of this year. In the first 9 months of 2022, Vietnam attracted about US$15.4 billion in foreign investment, up 16.2% over the same period last year. Real estate investment continues to rank second among sectors attracting the most foreign direct investment with over US$3.5 billion received, accounting for 18,7% of the total amount of investment. GDP in the first nine months of 2022 increased by 8.83% over the same period last year, the highest growth in the past decade. This shows that Vietnam is still among the markets with great potential for investment in the Asia Pacific region.
VIETNAM NEWS HIGHLIGHTS - AUGUST 2021
The Vietnamese Government is showing its drastic actions to implement its vaccine diplomacy policy for containing the Covid-19 pandemic to soon return to new normal life and recover the manufacturing nationwide.
VIETNAM REAL ESTATE INVESMENT MARKET OVERVIEW AND OUTLOOK Q2.2023
Stable rental prices were observed in the office market of Ho Chi Minh in Q2 2023.However, the occupancy rate slightly decreased compared to the previous quarter, with Grade A offices reaching 92% and Grade B offices achieving 75%. Additionally, the average rental prices remained relatively unchanged, with Grade A offices ranging from 41-67 USD/sqm/month and Grade B offices around 36 USD/sqm/month. New projects entering the market in outer CBD areas showed a promising occupancy rate of approximately 20-25%. Furthermore, investor are actively seeking tenants, and it is expected that the occupancy rate will increase in the near future.
VIETNAM NEWS HIGHLIGHTS - NOVEMBER 2021
The Vietnamese economy is actively recovering with a rebound in industrial production and retail sales, continued trade surplus and stabilized credit growth, a World Bank (WB) update says.
VIETNAM NEWS HIGHLIGHTS - DECEMBER 2021
By Bloomberg, "Vietnam’s economic growth accelerated in the fourth quarter as manufacturing revived and exports extended their recovery from the pandemic slump earlier this year."
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