Monthly Grade A rents in Ho Chi Minh City’s central business district (CBD) ranged from $50 to $55 per square metre. The city’s office market saw improved leasing activity in Q3 2026, driven by business expansion, relocations, and workplace restructuring, according to Avison Young.
The property consultancy noted that tenant demand was becoming more diversified, with companies from various sectors, including manufacturing, industrial, healthcare, and foreign direct investment, supporting leasing activity. They observed that this diversification was a key factor in the market’s improved performance.
Tenants are increasingly assessing factors such as space efficiency, building quality, amenities, connectivity, and technology infrastructure when choosing an office space, rather than focusing solely on location and floor area. This shift in priorities is influencing the way landlords approach the market.
Avison Young observed that businesses are placing greater emphasis on optimising office space and costs, rather than pursuing expansion alone. On the supply side, high-quality office developments, such as OpusK in Thu Thiem, continued to progress, with the project topping out in late Q3 2026. The development of such projects is a positive sign for the market.
Office rents remained largely unchanged from the previous quarter, with Grade A rents in the CBD ranging from $50 to $55 per square metre per month, and non-CBD locations recording rents of around $45 to $50 per square metre per month. The rental levels were maintained due to the quality of the buildings and the demand from tenants.
Well-occupied, high-quality buildings were generally able to maintain rental levels, while older properties offered flexible leasing terms to remain competitive. Leasing activity during the quarter was largely centred on lease renewals, changes in office size, and relocations between buildings. It was a period of consolidation for the market.
Some landlords offered rent-free periods and fit-out support, while existing buildings upgraded common areas, improved amenities, and enhanced operational standards to retain and attract tenants. Avison Young‘s assessment points to a market increasingly focused on space efficiency and workplace quality, with tenants prioritising these factors when selecting an office space.
As the market evolves, it is likely that landlords will need to adapt to meet the changing needs of tenants.
