Vietnam is experiencing strong economic growth and structural changes that will lead to a more transparent and accessible business environment. For the last five years, it has been a top performer within the region in key economic indicators. The country is also expected to achieve the highest GDP growth in Southeast Asia over the next three years. With a limited amount of available prime office space compared to regional peers, Hanoi and HCMC have high rental rates and occupancy, indicating strong demand and a thriving business environment. 

With overall occupancy of 98% and an average Grade A rent of US$60 per sq m per month, HCMC’s office market is one of the best performing in Asia. Occupancy and rent have increased steadily over the last five years, with demand exceeding available supply. The strong performance is expected to continue, with just 20,000 sq m completing in the next two years. Tenants seeking new space or wishing to expand need to carefully weigh up their options as the future will be marked by limited opportunities. Companies who cannot afford the higher prices are relocating to fringe and decentralized locations.