According to CBRE Vietnam’s Director of Office-for-lease Department Greg Ohan, many companies are in trend of returning to central area to lease offices because office rents in the central area are reaching reasonable levels. Besides, the rent level of A-class offices is around US$31/m2 (VND635,000/m2) and the one of B-class offices is around US$18/m2 (VND370,000/m2).

Located on Ton Duc Thang street, District 1, HCMC…

Saigon Link, situated at 146 Nguyen Van Troi, is a rare opportunity to acquire a unique double frontage development site. The sites lies directly between, and has immediate frontage to, Nguyen Van Troi and Hoang Van Thu, two of the major road arteries in HCMC. The location further benefits from direct and convenient access to both Ho Chi Minh City’s Tan Son Nhat International Airport and the commercial hub of the city District’s 1 and 3.

The site offers the potential to develop a significant mixed use property tapping into the relative under supply of residential property in the densely populated Phu Nhuan District and the obvious corporate office occupier demand in a market which has long been a favoured by tenants owing to the area’s logistical advantage.

The site is the only one of its kind available on the market and will be sold via a closed tender process.

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According to CBRE, the realty market is dropping down strongly and prices are coming back to the level in 2007. According to Mr. Marc Townsend, Managing Director of CBRE Vietnam, developers focusing on investing into mid- and hi-end segments have to pay a heavy price due to low sale rate. In recent time, many real estate enterprises have lowered their offering prices as well as suffered loss to clear up inventories. Being a foreign consultant with much experience of Vietnamese market, Mr. Marc Townsend said that, the gloomy realty market leaves disastrous consequences for house buyers, developers, investors and banks. That other investment channels are less attractive makes investors to gradually come back to the realty market regardless of Circular 02.

Meanwhile, Mr. Chris Brown, CEO of Cushman & Wakefield, said that B-grade and C-grade apartments are controlling Hanoi and HCMC realty market. However, the low transaction volume makes developers to seek different measures such as dividing apartments into smaller ones, completing apartments for lease, etc. Mr. Chris Brown proposed that, supporting policies from the State and the Governement should be more specific and the transparency of real estate investment mechanism should be increased for foreign investors.

According to CBRE Vietnam’s General Deputy Director Leon Cheneval, not all segments of the real estate market in Vietnam catch the eye of foreign investors and they attach special importance to the segment of retail market and offices for lease. Besides, they may acquire a part or a project which is in incomplete construction or faces difficulties in capital source. In addition, those projects are complex ones which comprised items of apartments for sale, trade centers, offices.

Office-for-lease and low-range apartment segments in HCMC are not very eventful but are seeing much more positive signals than before. According to CBRE’s latest report, the office-for-lease market has increased quite strongly from early year to now, especially A- and B-grade buildings which have just been completed or are about to be completed. In Q1-2013, offering rental also rose 2.3% against the previous quarter. Marc Townsend, managing director of CBRE, said: New supply is gradually falling while the demand keeps increasing. This will cause the offering rental to inch up.

Low- and mid-range apartment segment also sees good signals: liquidity remarkably increases, many projects (TDH Truong Tho, for example) draw attention from customers; etc.

In spite of being under the last construction phase, many real estate projects in HCMC have been registered for rent by many customers. These projects can be listed such as President Place building in Nguyen Du District (District 1), Pico Saigon Plaza in Cong Hoa District (Tan Binh District), etc. According to CBRE on offices for lease in Q1, the new leasable area of grade-A and grade-B offices increased strongly, nearly equivalent to 50% of the whole year 2012. Also according to CBRE, in HCMC, the rental in Q1 has leaved its bottom and started to increase. In detail, the average rental of grade-A and grade-B offices slightly increased by 2.3% in comparison with last quarter. The vacancy ratio of grade-A office segment decreased slightly by around 1.1% while the grade-B segment increased by 0.8%.

According to Mr. Greg Ohan, director of office-for-lease of CBRE Vietnam, the market of offices for lease prospered again in Q1 with around 69% of successful transactions with rental of USD20 – USD30/m2. According to CBRE’s forecast, in some coming quarters, there is still no signal of new key supply source while renting demand keeps increasing, making rental unchanged or increased slightly.

Mr. Greg Ohan said that, the market of offices for lease will continue to increase slightly at least until Q3 or Q4 of this year. Also according to CBRE, the exclusive marketing agent of Lim Tower in Ton Duc Thang Street (District 1), Techclombank has registered to rent 60% of this tower’s offices for lease although it is scheduled to be completed in June 2013. Besides, Mr. Greg Ohan also predicted that, there can be a big supply source from Blue Sky Office Tower (Tan Binh District), Times Square, Le Meridien (District 10), etc.

Sora Gardens is located in Tokyu Binh Duong Garden City in Binh Duong New City. This is the first condominium project developed by Japanese Developer. With concept “Japanese quality” and “Garden”, Becamex Tokyu plans to build a comfortable and convenient environment surrounded by green roof top and wall, in a combination with façade and common area. Binh Duong New City has been planned to become a green and clean new urban as well as a major political, economic, cultural and social center of Binh Duong.

Inside Industrial Park, Bac Ninh Province…

Finished and ready to move in!

719 units within 8 residential towers, offering 2 – 3 bedroom apartments and 4-bedroom penthouses

Resort style living in the heart of District 2 with swimming pool, pool deck, bbq area, children’s pool and play area, restaurant, 24/7 security, 100% back-up power, and parking

Ask us today about the Lease-to-Own promotion (April 2013)!

Located 165 Thai Ha, Dong Da District, Hanoi…

124 Ton Duc Thang, Dong Da District, Hanoi…

7 Tien Phong, Hoa Phu Ward, Binh Duong Province…

Saigon Airport Plaza is a mixed used building of retails, residential and office included the first serviced apartment located next to Ho Chi Minh city international Airport. With 84 units type 1 bedroom, this apartment will provide both short term and long term lease with full services such as: front office, maintenance, security service 24 hours, daily housekeeping service, with a well equipped gymnasium room and outdoor swimming pool. Easy walking distance of the Parkson Citi Plaza, 5 minutes by driving to Big C super market and many restaurants surrounding, the tenants will find the best comfort when staying this apartment.

Vincom is a mixed use buidling of office, retail and apartment located in the heart of Ho Chi Minh’s CBD, based on Ly Tu Trong, Dong Khoi, Le Thanh Ton Street, District 1. Vincom Apartment managed by Vincom Group with 80 spacious units comprising of two, three and four bedrooms from 130sm to 300sm. Vincom is an ideal place for single expat as well as big family who love to living in the most excited, busiest area of Ho Chi Minh City.

First international serviced apartment managed by Fraser in HCMC with 176 spacious units comprising of Studio, One Bedroom and Two Bedroom designed stylish with kitchenettes, located in the heart of district 7. Easy walking distance of the Parkson Paragon, Crescent shopping mall, Saigon Exhibition and Convention Center, FV Hospital, Gourmet Market, educational institutions such as the Saigon South International, Japanese Taiwanese and Korean schools…