HCMC Office Space Calculator Grows Steadily by 2024

The office rental segment still faces many challenges, but in Ho Chi Minh City. This market’s measure of office space still has positive operating results at the end of 2023 and the Office Space calculator is forecast will grow steadily in 2024 of office space measurements.

Office space calculator late 2023

In the second half of 2023, many office space calculator leasing transactions of the Finance. Insurance and Real Estate (FIRE) industry group are in the high-quality building segment.

This signal shows that tenants have a positive reception towards high-end office groups and tend to choose areas near the center. Among them, the Thu Thiem area is a bright spot attracting a lot of attention from tenants when providing high quality premises, large area and competitive rental prices.

At the same time, businesses that previously intended to expand their offices have. Also found many suitable options recently from new sources of supply on the diverse market in many different areas of the city. This shows that businesses are more confident when moving offices during difficult times.

In the fourth quarter of 2023, rental prices increased 1% quarter-on-quarter and 5% year-on-year to reach 779,000 VND/m2/month with a high occupancy rate of 89%. Down 1 percentage point quarter-on-quarter and 4 percentage points over the same period last year before.

Read more: Coworking Workspace Binh Thanh HCMC

Recent office space measurements results in 2023

Firstly, Vietnam’s office market is going against the global downward trend and maintaining high occupancy rates with stable rental growth. Secondly, Ho Chi Minh City has emerged as one of the best-performing office locations in the Asia-Pacific region. Thanks to good rental demand and limited supply relative to economic development potential.

Thirdly, Office space expansion transactions account for 74% of the total transaction area.

Fourthly, Tenants in the Finance, Insurance and Real Estate (FIRE) sector favor high-quality projects and tend to move to non-central areas. While IT and Distribution industry tenants prioritize projects with good rental prices. Also, New office opening transactions account for 15% of the leased area, of which foreign businesses account for 74% of the transaction area and favor Grade A and B projects. Domestic enterprises choose the class C segment and account for the remaining 26%.

Further, Tenants are increasingly looking for high-end new buildings that meet sustainability. Green and health certification standards. Lastly, Industry groups such as finance and manufacturing are still the main tenants leading the market in a volatile economic context.

Read more: Office Space – Coworking Space – Shared Office Market in HCMC

Office space in the upcoming year 2024

In 2024, there are 10 projects with 142,000 m2 NLA expected to enter the market. According to the Center for Human Resource Demand Forecasting and Labor Market Information in Ho Chi Minh City. Businesses in the FIRE, IT and Distribution industries will continue to expand in 2024. Good demand will push the market forward. maintain. Maintain high and stable capacity.

By 2026, about 70% of future supply from Grade A and B projects will have green certifications such as Green Mark and LEED. Forecasts based on future supply and economic outlook. Rental prices are expected to decrease slightly by 1%/year in the period 2024-2026.

Read more: Coworking Workspace Tan Binh HCMC

CONTACT US

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

In conclusion, Office Space Calculator in 2024 will grow and be highly anticipated.