8 am to 6 pm

Monday to Saturday

Zalo: (+84) 398 716 459

WhatsApp: (+84) 398 716 459

(+84) 398 716 459

contact@lookoffice.vn

Office Rental Prices Increases Slightly

Office Rental Prices Increases Slightly

Office occupancy rates have returned to pre-pandemic levels, with office rental prices rising slightly. The following are the figures reported on that.

Details of current office rental prices

Details of current office rental prices

Specifically, the rent of Grade A office space in the first quarter of 2022 increased by 0.2% over the same period last year and 0.56% compared to the previous quarter. The increase in rents was largely due to a tight supply in the market, with Grade A and B vacancy rates only 10% citywide. The supply shortfall is forecast to last until 2023.

The increase is modest, but investors who can hand over high-class office space in the next 18 to 24 months will certainly reap great results.

This position forecast that occupancy will be maintained at over 90% and rents will increase by 15-20% by the end of 2023. However, there will be an oversupply after that. Therefore, we will witness a transformation from a dominant market for developers to a market that favors tenants.

Grade A office space across the city currently has an average rental price of USD 55.31 per sqm, the highest in central districts at USD 62.54 per sqm, while in the South Saigon area it is 48 percent lower, about approx. 32.78 USD per square meter. In the Grade B segment, the city-wide average price is 34.03 USD per square meter. Which, the price in the central districts is 43.37 USD per m2 and in the surrounding area is about 33.84 USD per m2.

Tenants who should look for more economical options can consider commercial areas in the South. Meanwhile, Thu Duc City is forecast to create a revolution in rents in the future when the Thu Thiem area is fully developed. Currently, the rent for the Grade B office here is 30.08 USD per square meter.

Office rental price forecast in the next 2 years

Office rental price forecast in the next 2 years

In the next two years, Ho Chi Minh City will have about 87,480 m2 more Grade A office space and 136,137 m2 of Grade B office space. From 2024 onwards, the city is expected to add about 388,350 m2 of Grade A office space. A and B will most likely be ready only after 2024.

Looking at future supply, in 2025, it is expected that there will be a lot more Grade A office space for lease with about 351,480 m2. This will bring the total area of ​​high-end office space for lease to nearly 700,000 m2, an increase of about 50% of the market size.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

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

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

img

huyho

Professional Content Writter about the office space for lease, coworking, serviced office, retailed space.

    Related posts

    Office Work Closing Time: Overtime Fee

    One of the expenses that many businesses are interested in when renting an office for office work...

    Continue reading
    by huyho

    Office Ventilation Requirements: Fresh Wind Supply

    With any construction, it is necessary to calculate the wind flow to ensure ventilation and...

    Continue reading
    by huyho

    Office Space Design: 5 Area Standard Designs

    When looking to rent an office, in addition to paying attention to location and feng shui, people...

    Continue reading
    by huyho

    Join The Discussion

    Ads Blocker Image Powered by Code Help Pro

    Ads Blocker Detected!!!

    We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

    error:
    Index