HCMC – Vietnam’s office market saw a steady recovery in the second quarter of 2025, with rising demand in the segment of high-quality, multifunctional, and environmentally friendly spaces.
According to Savills Vietnam’s Q2 2025 report, leasing demand in HCMC was mainly driven by businesses in the technology, finance, banking, insurance, and education sectors, helping the market maintain stability.
The occupancy rate reached 88%, with an average rent of VND843,000 per square meter per month.
In Hanoi, the total office supply reached 2.28 million square meters, mainly concentrated in the inner city and western areas, while Grade A office space remains scarce in the central business district.
Newly developed Grade A buildings outside the city center have attracted a large number of tenants thanks to competitive pricing and high-quality standards.
Leasing activity was mainly driven by expansion and relocation needs, reflecting a cost-saving trend as businesses move away from the city center. The occupancy rate stood at 83%, with an average rent of VND564,000 per square meter per month.
According to Savills Vietnam, both Hanoi and HCMC are witnessing a shift from traditional office models to strategic spaces designed for connectivity, innovation, and long-term talent development.
In HCMC, 73% of Grade A offices have received green certifications to date, including all new projects launched in the past three years. Thanks to efficient operations and compliance with ESG standards, these buildings command rental premiums of up to 10%.
In Hanoi, 41% of Grade A and 4% of Grade B office buildings have achieved green certification. By the end of 2025, three more Grade A projects are expected to meet LEED standards.
The company forecasts that rents for green office spaces will continue to rise as ESG standards become more widespread, while less sustainable buildings may see declining rents.
