Vietnamplus

Office space for lease in Ho Chi Minh City in the first half of 2022 continued to make a recovery with a total net absorption area of about 21,000 sq.m, equivalent to 38% of 2021, although the new supply remained limited, according to real estate firm CBRE.

Strong demand will ensure stable absorption of office space in Hanoi in the second half of 2022, according to real estate services firms CBRE.

Enterprises from the Republic of Korea (RoK) have been paying due attention to leasing office space in Hanoi, according to a recent survey by real estate consultants Savills Vietnam.

Though the COVID-19 pandemic has cast a shadow over the global economy, the HCM City office space market has not been badly affected this year, according to property consultancy companies.

Large office space and improved connectivity will be in high demand in coming years, according to market researcher Jones Lang LaSalle (JLL).

Prices of Grade A offices in the capital have been forecast to rise over the next three years by seven per cent annually due to low supply.

The flexible office market in HCM City comprising co-working and serviced offices is among the fastest growing in the Asia Pacific, market researchers said.

Several new development trends are emerging in the real estate market, which is expected to remain strong in 2019 since the economy continues to grow robustly and there is a lot of investment flowing into infrastructure.

Growth in the domestic office market has continued this year and is set to remain at record levels well into the future after more than 7 percent growth in grade A rents last year, according to Savills Vietnam.