The office rental market in Ho Chi Minh City is one of the most vibrant and rapidly developing markets in Vietnam. Below are some key characteristics of this market:
- The market is segmented into multiple categories: Grade A, B, C offices, affordable offices, and fully serviced offices with diverse pricing and rental areas to better meet the needs of many businesses.
- The supply of office space in the financial hubs of Districts 1 and 3 accounts for the largest share.
- The office rental market is gradually shifting to non-central districts like Binh Thanh, District 7, District 2, Tan Binh, and Phu Nhuan. These districts have developed high-quality office buildings meeting Grade A standards, offering better rental rates than central districts with integrated utilities and services.
Overview of Ho Chi Minh City’s Office Rental Market in 2024
1. Strong Supply Growth with High-Quality Projects
From 2023 to 2024, Ho Chi Minh City has seen a surge in new office buildings across both Grade A and Grade B segments, significantly increasing available leasable space:
- Early 2024: District 1 introduced The Nexus Tower and Riverfront Financial Centre, contributing 70,000 m² of Grade A office space.
- Q2/2023: The Thu Thiem area welcomed two Grade A projects, The Mett and The Hallmark, adding 85,000 m²
- July 2024: Marina Central Tower in District 1 emerged as a highlight with a massive 106,000 m² of leasable area.
- Suburban Areas: Projects like Victory Tower (Go Vap) and L’Mak 68 (Phu Nhuan) entered the market with competitive prices, appealing to cost-conscious businesses.
These additions increased the total office supply in Ho Chi Minh City to approximately 1.6 million m², with Grade A vacancy rates averaging close to 20%. This supply surge not only meets growing demand but also intensifies competition, especially in central areas.
Table of Newly Completed Office Buildings (2024-2025)
| Building Name | Details | Completion Year | Image |
| Marina Central Tower |
|
2025 |  |
| ThaiSquare The Merit |
|
2024 |  |
| Victory Tower |
|
2024 |  |
| LMAK 68 Phan Dang Luu Building |
|
2024 |  |
| The Nexus Tower |
|
2024 |  |
| Riverfront Financial Centre |
|
2024 |  |
| Etown 6 |
|
2024 |  |
2. Forecasted Trends and Competition in 2024
- Shift to Suburban Areas: Districts 2, 7, and Binh Thanh are becoming increasingly attractive to businesses due to competitive rents, modern designs, and convenient locations. New developments like Marina Central, The Mett, and The Hallmark highlight the strong potential of non-central areas.
- Flexible Working Models: The rise of remote and hybrid work post-pandemic has driven demand for co-working spaces and serviced offices, particularly from small and medium enterprises.
- Enticing Lease Incentives: Intense competition is pushing landlords to offer attractive perks, such as free meeting room usage, rent discounts, or rent-free periods for long-term leases.
- Green and Smart Offices: Two-thirds of new office projects now meet green standards (e.g., LEED certification), reflecting a growing preference for sustainable, energy-efficient spaces that promote employee well-being. This trend is especially important for attracting multinational tenants.
3. Key Highlights and Challenges
- Advantages for Tenants: The abundant supply provides tenants with more options in terms of location, pricing, and service quality.
- Challenges for Landlords: Existing buildings face pressure to upgrade and compete with new projects, especially regarding green certifications and enhanced services.
- Industry Drivers: Finance, banking, insurance, and information technology sectors dominate leasing demand, with significant contributions from multinational companies based in the US, Japan, and South Korea.
The office leasing market in Ho Chi Minh City in 2024 paints a dynamic yet challenging picture. While the robust supply expansion creates diverse opportunities for tenants, competitive pressure pushes landlords to innovate and adapt swiftly. Factors such as quality, green standards, and flexible working models will be pivotal in shaping the market's future.
2. Office Rentals in Ho Chi Minh City: Price Differences by Area
2.1. Office Rental Prices by Area
Office rental prices in Ho Chi Minh City range from $10 to $65/m²/month, depending on various factors such as building grade, location, design scale, finishing equipment, vacancy rate, downtime, and competition in the area. Below is a reference price table updated by Saigon Office
Office Rental Prices in Ho Chi Minh City by District
| District | Number of Buildings | Rental Price (USD/m²/month) | Representative Buildings |
| District 1 | 465+ | $19 - $63 | Marina Centre Tower, Thaisquare The Merit, President Plaza, The Landmark, Vietcombank Tower, etc. |
| District 2 | 172+ | $10 - $45 | The Mett, The Galleria Connection, The Hallmark, Galleria Metro 6, Amanaki Thao Dien, etc. |
| District 3 | 347+ | $10 - $36 | Pearl 5 Center, Centec, May Plaza, Estar, L'mak The Signature, Leman Luxury, etc. |
| District 4 | 94+ | $8 - $30 | Etown Central, Ree Tower, Enterprise, Sacombank Khanh Hoi, etc. |
| District 5 | 76+ | $10 - $16 | Lottery, Golden Plaza, Ha Phan, Vietnam Bus, Tan Da Court, etc. |
| District 7 | 96+ | $8 - $32 | Cobi 2, UOA Tower, The Grace, ITD, Golden King, CMC Creative Space, etc. |
| District 8 | 1+ | $10 - $15 | Nguyen Lam Building, De Vivre, etc. |
| District 9 | 5+ | $12 - $15 | OneHub Saigon, Taiyo Nisshin Building, etc. |
| District 10 | 56+ | $11 - $31 | Viettel Complex, Ha Do Centrosa, Hoang Anh Safomec, etc. |
| District 11 | 4+ | $7 - $15 | FlemingTon Building, The Emporium, Golden Dragon Mall, etc. |
| Binh Thanh | 224+ | $8 - $35 | Dat Xanh Group, Opal Tower, Pearl Plaza, More Tower System, etc. |
| Phu Nhuan | 144+ | $10 - $27 | L'Mak Orchard Park View, Sky Gate, L'Mak 68 Phan Dang Luu, etc. |
| Tan Binh | 234+ | $10 - $32 | Athena, Financiat, Etown Complex, Kicotrans, etc. |
| Thu Duc | 2+ | $8 - $17 | Phat Thien Nam Building, etc. |
| Go Vap | 16+ | $8 - $19 | Victory Tower, Moc Gia Nguyen Oanh, City Land, etc. |
| Tan Phu | 7+ | $12 - $20 | OfficeHaus, Moc Gia Tan Thang, Babylon, etc. |
Ho Chi Minh City features several thriving office hubs, including Districts 1, 2, 3, Phu Nhuan, Binh Thanh, Tan Binh, and District 7. These districts benefit from strategic locations and convenient access to city amenities, services, and major transportation systems.
The central districts remain the primary concentration of office buildings for rent, catering to diverse business needs with premium services and facilities.
The office building market in Ho Chi Minh City is categorized into Grade A, B, and C buildings based on location, scale, and building facilities.
- Grade A and B Offices are typically chosen by large corporations or international companies due to their premium amenities and services.
- Grade C Offices and affordable buildings are more suitable for small and medium-sized enterprises (SMEs) looking to optimize costs.
Office Rental Prices by Grade in Ho Chi Minh City
| Office Grade | Rental Price (USD/m²/month) | Representative Buildings |
| Grade A | $22 – $65 | Cobi 2, UOA Tower, Melinh Point, 9 Ton Duc Thang, Deutsches Haus, The Metropolitan, The Nexus, Riverfront Saigon Centre |
| Grade B | $15 – $40 | Pearl 5 Le Quy Don, SFC Dinh Tien Hoang, Centre Point, Sky Gate, L'mak 68 Phan Dang Luu, Zen Plaza, etc. |
| Grade C | $12 – $25 | MORE Tower System, The Sarus, L'Mak Orchard Park View, Alpha Tower, Galleria Office, OfficeHaus, etc. |
| Affordable Offices | Below $15 | Athena, Dali, Savista Ung Van Khiem, Zeta Tran Nguyen Dan, PLS Real Nguyen Kiem, Kicotrans, etc. |
| Serviced Offices | $120 - $620 per seat/month | TEC The Nexus, Regus Worc@Q2, Pearl 5 Center, WeWork Etown Central, Regus Phu My Hung, Compass Office Landmark 81, etc. |
- Grade A Offices: Primarily concentrated in central districts such as District 1 and District 3, with limited distribution in District 2, Binh Thanh, and District 7. The highest rental rates, exceeding $50/m²/month, are found in buildings like Marina Central Tower, Deutsches Haus, Saigon Center 2, The Nexus, Sunwah Tower, Riverfront Financial Centre, and Vietcombank Tower.
- Grade B Offices: Widely distributed across many districts, though 70% of these buildings are located in Districts 1 and 3. Rental prices in these central districts are higher compared to suburban areas.
- Grade C Offices: Found mainly in non-central districts like Binh Thanh, Phu Nhuan, and Tan Binh. These offices have lower rental prices due to their location, facilities, and infrastructure. However, the number of Grade C buildings is decreasing as the market trends towards modernization and upgrading.
- Serviced Office: Startups and SMEs can also opt for Grade A offices through serviced office solutions. These include fully furnished private offices or shared workspaces within Grade A and B buildings. Tenants only need to bring their laptops to start working, eliminating setup costs.
3. Notable Office Buildings for Rent in Ho Chi Minh City
Ho Chi Minh City boasts over 2,000 office buildings across Grades A, B, and C located in various districts. Below is a list of 20 outstanding office buildings with competitive rental prices for Q4/2024 for your consideration
| Building Name | Details | Image |
| Pearl 5 |
|
 |
| The Sarus |
|
 |
| The Waterfront Saigon |
|
 |
| SFC |
|
 |
| The Mett |
|
 |
| The Hallmark |
|
 |
| Centec Tower |
|
 |
| UOA Tower |
|
 |
| Centre Point |
|
 |
| Sky Gate |
|
 |
| Cobi |
|
 |
| OfficeHaus |
|
 |
| Financiat Building |
|
 |
| Hệ thống tòa nhà M.O.R.E | ||
| M.O.R.E 83B HOÀNG SA |
|
 |
| MORE 400/6 UNG VAN KHIEM BUILDING |
|
 |
| MORE N1 DIEN BIEN PHU |
|
 |
| MORE 161 UNG VAN KHIEM BUILDING |
|
 |
| MORE 23 TAN CANG BUILDING |
|
 |
| MORE 34 PASTEUR BUILDING |
|
 |
| MORE MAC DINH CHI BUILDING |
|
 |
| MORE PHAN DINH PHUNG BUILDING |
|
 |
| MORE 520 CMT8 BUILDING |
|
 |
| MORE THE VINTAGE 54 BUILDING |
|
 |
| THE HERITAGE BUILDING |
|
 |
4. Tips for Renting Offices in Ho Chi Minh City
Choosing the Office Location
When selecting an office location, consider these three factors:
- Convenient Transportation: Ensure the office is near main roads, easily accessible by public transport, close to parking facilities (if the building lacks sufficient parking), and take note of traffic congestion during peak hours.
- Proximity to Customers or Partners: Choose a location near your target customers or key partners. For instance, businesses targeting the Chinese community should consider Districts 5, 6, or nearby areas like Districts 10 or 11.
- Surrounding Amenities: Look for nearby restaurants, banks, ATMs, and convenience stores to provide employees with necessary conveniences.
Budget Planning
Determine a rental budget that aligns with your company's financial capacity before beginning the office search.
- Initial Costs: Include rental fees, deposit, management fees, moving expenses, repair costs, and office equipment setup.
- Monthly Expenses: Account for parking fees, internet costs, overtime charges (depending on the building's policies), and cleaning services.
Determining Office Space Needs
To calculate the required office space, clarify these three aspects:
- Number of Employees: Multiply the current staff count by the average space per employee (approximately 4–5m²/person).
- Office Type: Decide whether you need a traditional office floor for self-fit-out (measured in m²) or a serviced office (calculated by headcount).
- Functional Rooms: In addition to standard rooms like director’s offices and meeting rooms, consider the need for spaces like pantries, reception areas, and common areas to plan and allocate the appropriate office size.
Building Amenities
Ensure the building meets your company’s needs with basic and advanced facilities:
- Basic Amenities: Electricity, water, Wi-Fi, air conditioning, internet, security, and fire safety systems.
- Supplementary Amenities: Facilities like gyms, pantries, swimming pools, and relaxation zones.
- Building Services: Regular cleaning, 24/7 security, and professional management services.
Reviewing Lease Agreement Terms
Before signing the lease, thoroughly understand all terms in the contract:
- Payment Terms: Clearly agree on the payment method and schedule.
- Dispute Terms: Pay attention to terms regarding dispute resolution, such as early termination conditions.
- Lease Duration: Ensure the lease duration matches your business strategy, typically from 2 years for traditional offices and 6 months for serviced offices.
Saigon Office – Professional Office Leasing Consultant
Saigon Office specializes in office leasing consultancy across all districts in Ho Chi Minh City, including Districts 1, 2, 3, 4, 5, 7, 8, 9, 10, Binh Thanh, Phu Nhuan, and Tan Binh. With extensive market experience, Saigon Office helps businesses find ideal working spaces that meet their needs.
Why Choose Saigon Office?
- Accurate Information: We directly survey every building, ensuring the most updated and precise data on size, rental prices, and amenities.
- Local Expertise: Saigon Office understands each area in HCMC, guiding you to choose an office location tailored to your employees’ working and living needs.
- Practical Knowledge: With 12 years of experience, our team provides valuable insights and solutions for businesses.
With years of experience and a dynamic, dedicated team, Saigon Office continues to:
- Update market offerings, including Grade A, B, C, and serviced offices, to provide a wide range of choices for clients.
- Listen to and propose the best solutions for long-term partnerships through optimized services.
- Be a trusted partner for both domestic and international building investors in office leasing and management.
SAIGON OFFICE ✅Specializing in office building for lease in Ho Chi Minh City. With many years of experience, with young, proactive, dynamic and efficient staff, we are constantly: Updating products on campus (Grade A office building, Grade B office building , Grade C offices and package offices ...) to ensure a wide range of choices for customers. Always listen and give the best solutions to customers, towards long-term cooperation through consulting and providing the best solution with the best quality of service.
With proven capacity, Saigon Office is chosen by the investor of the project of office buildings at home and abroad as an office leasing consultancy and management partner. Coming to Saigon Office, you can be assured of the time for daily work and business activities of your business - Finding an office that suits your needs has been assisted by our staff.
Your satisfactions - Our reponsibility
