The office market is drawing in local and international companies.
Vietnam’s office market is buoyant according to real estate firm CBRE. In fact, it is progressing better than some of its neighbours. A direct result of the economy which is going from strength to strength.
CBRE have experienced demand for office space in both Ho Chi Minh City and also Hanoi. A broad range of sectors that include finance, banking, technology, manufacturing and education, are driving the leasing market as illustrated below that compares demand against the region’s other leading cities.
This surge in demand in Vietnam thanks to an influx of new local and overseas firms that are helping to propel demand. All are aiming to expand their presence in the country, such as the new players like Siam Commercial Bank and CIMB. Information technology companies are also starting to choose Vietnam as their base for their operations but also to cater for both the European and Asian Markets. Lured by the favourable office space conditions as demonstrated below.
Vietnam’s flourishing market is expected to continue into 2017. This is despite more expected supply in the CBD areas but also the city fringes. (In Hanoi Hoan Kiem and Ba Dinh are classed as the CBD, and districts 1 and 3 in Ho Chi Minh City). Landlords are looking to branch out on locations and are even considering co-working spaces to adapt to the changing way people are working.
