Vietnam office market enters new growth cycle as A‑grade supply expands

The Vietnamese office‑rental market continued stable growth in Q2 2026, with developers focusing on large, internationally‑standard projects such as The Kross in Ho Chi Minh City, Viettel TechHub in Da Nang and new office towers at Vinhomes Grand Park. Demand is led by technology, finance and foreign‑direct‑investment (FDI) firms, which favour high‑quality, smart‑building and sustainable spaces. Rental rates for A‑grade office space remained steady around US$55 / m² / month in Ho Chi Minh, while vacancy stayed low.

In Hanoi, more than 73,000 m² of new A‑grade office space was added in Q2, raising the city’s total office stock to about 1.96 million m². Average A‑grade rent fell 1.2% to US$29.5 / m² / month, with vacancy rising to 28.3% as new projects come on‑line. About 39% of leasing activity involved expansion of existing tenants, primarily in IT and financial services, reflecting continued interest from both domestic and foreign investors. Developers are shifting competition from price to quality, emphasizing green certifications, smart operations and integrated amenities to attract and retain FDI tenants.