Saigon Lease High-Class Office Always Out of Stock

by Huy
June 18, 2022
Leasing Office Guide, Market
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Page Contents

Saigon Lease High-Class Office always has a high occupancy rate of over 90%. Even, many Grade A office buildings in the central area have an occupancy rate of 98% – 100%.

The attractiveness of Saigon Lease High-Class Office

Saigon Lease High-Class Office has always had great appeal to businesses. Because the professional office building in the central area brings a lot of benefits to the company’s business development. The most prominent are the following three characteristics:

WELL LOCATED

The central core area is always the place where most of the services and development facilities are concentrated in a city. When renting and working at a high-class office in the central area, businesses can easily access a variety of utilities and services.

Besides, the central area is also convenient for moving to different places in the city. The roads in the central area are always invested with the best infrastructure, and with a convenient traffic network, employees and customers will save maximum travel time to the company’s office.

You can know more about the reasons why grade A office buildings attract businesses here: Reasons Why Grade A Office Buildings Attract Many Businesses

PROFESSIONAL WORKING ENVIRONMENT

For the most part, office buildings in district 1 provide much higher quality office space than offices far from the center. Because there are many office buildings for rent in this area, the competition is quite high, buildings need to improve quality, service, and facilities to compete with each other. Therefore, the working environment here will help businesses increase work productivity.

INCREASE BRAND AWARENESS

A professional working environment will help businesses build more credibility and sympathy in the hearts of customers. Because to rent a high-class office in the center, businesses need large resources, and only then will businesses not be afraid to locate in a prominent, easy-to-find, and full legal position. So this is considered an investment for the brand, helping businesses increase awareness and competition in the market.

Saigon Lease High-Class Office Market from 2022 – 2023

Because of these outstanding advantages, the demand for office rental in this market is quite large. The occupancy rate of high-end offices in the center is above 90% of the whole market. Even many office buildings in District 1 and office buildings in District 3 have a rental rate of up to 98%.

Grade A office rent in the first 3 months of 2022 reached $44.9/m2/month, up 5.1% QoQ and 5.3% YoY. Grade B office has a rent of 25.9 USD/m2/month, up 1.7% QoQ and 3.1% YoY. It is forecasted that from the second quarter of 2022 until the end of the year if there is no more supply, the price of high-end offices for rent in this area may increase by 15-20%.

The reason for the “sold out” situation is that the supply of office space in the city center is always scarce and the demand for rent is always large. Therefore, office tenants in this area will face more difficulties because they do not have many choices, and the rent is higher than similar offices in the central fringe area. This situation will only gradually stabilize by the end of 2023 when the market has more high-end office projects coming into operation.

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