HCMC sees demand increase in Class A office space

The Ho Chi Minh City Real Estate Association reported that last year office leasing capacity was 1.47 million square meters from 224 projects with Class A offices, being in higher demand and prices than others.

A Class A office building in HCMC (Photo: SGGP)

Leasing capacity averaged 93 percent and prices averaged VND541,000 per square meter a month. Class A category were rented out at VND950,000 (US$46) per square meter a month.

Real estate companies said that there will be no Class A office building to come into operation this year.

Therefore, market research companies forecast that office renting demand will increase about 13 percent this year and 14 percent next year in HCMC. It is expected to be 11 percent and 15 percent in Hanoi.

By Minh Huy – Translated by Hai Mien

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