Despite challenges, Ho Chi Minh City maintains a competitive edge concerning office fit-out costs in the region, with an average cost of 1,150 USD per square metre for medium-quality corporate offices—significantly lower by 26% compared to the regional average of 1,550 USD per sq.m.
Vietnam jumped four places to rank 56th globally, according to the Global Real Estate Transparency Index by JLL and LaSalle Investment Management, amid improving building standards across Asia.
The supply of industrial property in the south is expected to rise further in the next five years to capitalise on the increasing demand in the region, and further strengthen its leading position in terms of supply, according to JLL Vietnam.
Asia Pacific’s commercial real estate market has felt the brunt of COVID-19 so far this year, with a sharp decline in investment volumes and rental prices across most major commercial asset classes, according to real estate services firm JLL.
Vietnam’s two major cities, Hanoi and Ho Chi Minh City, have contributed to the country’s higher rank in the 2020 Global Real Estate Transparency Index (GRETI).
Housing demand remains high in Ho Chi Minh City despite impact of the COVID-19 pandemic, according to US-based real estate and investment management services firm Jones Lang LaSalle (JLL).
Ho Chi Minh City and Hanoi remained among the global Top 10 most dynamic growing cities in JLL’s Short-Term City Momentum Index 2019, which tracks socio-economic and commercial real estate growth in 131 cities over a three-year period.
Commercial property is attracting much interest from investors in Vietnam’s property market, which is still an attractive destination for foreign real estate firms.
