Ho Chi Minh City’s office market has achieved rapid growth fuelled by steady demand and burgeoning supply, reinforcing the city’s status as a premier destination for both local and international corporations seeking strategic growth opportunities in Southeast Asia, according to real estate consulting firm Knight Frank.

Despite a challenging 2024 marked by global economic uncertainties and regulatory changes, the industrial property market in the south is poised for a robust recovery in 2025, according to property consultancy Knight Frank.

There was a 20% increase in co-working space in HCM City driven primarily by some large new premium centres in the downtown area, according to property consultancy Knight Frank Vietnam.

The vacancy rate of offices in Ho Chi Minh City reached 18% in the third quarter of 2023, while rents decreased by between 0.2 -2.2% quarterly, according to Knight Frank Vietnam, a leading real estate consultancy.