Ho Chi Minh City’s office market has achieved rapid growth fuelled by steady demand and burgeoning supply, reinforcing the city’s status as a premier destination for both local and international corporations seeking strategic growth opportunities in Southeast Asia, according to real estate consulting firm Knight Frank.
Ho Chi Minh City's office market is experiencing record absorption in 2024, demonstrating its vitality and resilience as well as consolidating its position as an attractive destination for both domestic and foreign businesses looking for strategic development opportunities in Southeast Asia, according to Knight Frank, one of the world's leading real estate consultancies.
Vietnam saw positive performance in the office market in its largest cities, Hanoi and HCM City, during the past nine months of this year, according to foreign real estate research firms based in Vietnam.
Vietnam’s office market will continue to see an uptick in 2023 with quality supplies, according to real estate agency Savills Vietnam.
Ho Chi Minh City’s office market 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.
VOV.VN - The consumer price index (CPI) in the first quarter of the year rose by 1.92%, representing the lowest increase since 2017, with the exception of 2021, although the inflationary pressure will remain high until the end of the year, according to a senior statistician.
VOV.VN - Although Vietnam was badly impacted by the COVID-19 pandemic in the first two quarters of the year, its real estate market has still received 500,000 new supplies, representing an annual increase of 270%.
The office market in Hanoi 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.
Hanoi’s office market is said to be more attractive than its counterparts in other Southeast Asian cities and even in the Asia-Pacific region because of cheaper rentals and greater supply, according to real estate consultants Savills Hanoi.
A hybrid working model comprising both remote and office-based work is a trend that many companies will embrace since working methods have changed globally after the pandemic broke out, including in Vietnam, experts have predicted.