Date: Thursday 21, June, 2012
According to Mr. Greg Ohan, Director of office-for-lease division of CBRE Vietnam, this is good time for companies who would like to return to central area as new buildings’ owners are now very flexible with their price strategy. The market has seen a change of thought of developers, from keeping high price to turning flexible to attract renters. Average rent of old A-class office buildings is VND750,000/m2 (USD36/m2) while some new buildings are offered for lease at VND540,000-570,000/m2 (USD26-27/m2). In a talk with about 150 companies having leasing demand last May, Mr. Ohan said that both HCMC and Hanoi were in Top 50 cities having highest office rent in the world.
It is expected that about 84,000m2 of office from some big projects in the city’s central area will join the market in upcoming time. The current office supply of HCMC is now 1.9 million m2, including 304,000m2 of A-class office and 805,700m2 of B-class office. Cushman & Wakefield believes that 2012 will continue to be the market of renters. Prestigious buildings will keep their renters by slight price cut while buildings which are managed poorly will risk customer’s leave.
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