Hanoi, HCM City office space rental costs rise
(VOV) - The cost of leasing office space in the third quarter of the year jumped 2% in Hanoi and 1% in HCM City, according to an office rental report recently released by Savills Vietnam.
Savills said the office rental index for the Hanoi metro area stood at 50.3 points for the quarter, a decrease of 3.9 points on-year. It decreased by 2.5 points in the city centre and increased 1.3 points in the neighbouring areas .
In HCM City, the office rental index stood at 77 points for the quarter, up 3.6 points on-year, which is attributed to an overall increase in leasing capacity and rental prices.
However, Savills said construction of many high-rise buildings is expected to be completed over the next few quarters, which will exert downward pressure on the office rental market in HCM City.