Office for Lease in Ho Chi Minh City

Office rental market information in Ho Chi Minh City

The office rental market in Ho Chi Minh City (HCMC) is one of the most vibrant and rapidly developing markets in Vietnam.

Location

Ho Chi Minh City has many areas that are thriving in terms of office development, with a continuous construction of office buildings. Prominent among these are District 1, District 3, Phu Nhuan District, Binh Thanh District, Tan Binh District, and District 7. These areas are strategically located and easily accessible to amenities, services, and major transportation routes of the city.

Key highlights of the office rental market

• The majority of office for lease in Ho Chi Minh City fall into the B and C grade segments.
• Office spaces for rent in District 1 and District 3 still constitute the largest share of the market.
• There is a significant trend of shifting towards suburban areas, with 55% of relocations occurring in districts like Binh Thanh, District 7, and Tan Binh.
• Ho Chi Minh City offers diverse range of office spaces for rent, from traditional office buildings to shared workspaces and virtual offices.

The supply and demand situation for office spaces

• The demand for office for lease in HCMC is rapidly increasing due to the robust development of the economy, as well as the service and industrial sectors. However, the supply of new office spaces does not meet the demand, resulting in a shortage of offices in certain areas.
• New offices are designed to international standards, making them easily accessible to the workforce.
• The architecture and facilities are increasingly superior, comparable to those in central areas.
• The rental prices are not as expensive than the central districts.
• Businesses are shifting towards digital platforms, fintech, IT, etc., reducing the necessity of being located in the downtown area to cut costs.

Current tenants of office spaces

• Small and medium-sized enterprises have the highest demand for rentals.
• Main tenant demographics: financial institutions, banks, insurance companies, manufacturing and distribution, infrastructure, applications, real estate, consulting, and other sectors.
• More than 60% of international tenants in Ho Chi Minh City are businesses from Japan, South Korea, the United States, and Singapore.

Office construction and design trends

• Green spaces that incorporate nature, stimulating creativity.
• Flexible and hybrid workspaces.
• Emphasis on LEED green building standards.
• Utilizing energy-efficient materials and user-friendly features, such as Low-E glass to limit UV rays, thermal and sound insulation, and maximizing natural light.

Office rental price in Ho Chi Minh City 

Grade A office buildings in District 1 have rental prices exceeding $50/m2. Examples include Deutsches Haus, Bitexco Financial Tower, Vietcombank Tower, and Saigon Centre 2.

Grade B office spaces constitute a significant proportion of the available options in Ho Chi Minh City, evenly distributed across various areas.

Grade B office buildings typically offer large floor areas, flexible divisions into different spaces, and the ability to meet the needs of businesses of various scales.

Grade C office spaces offer a wide range of choices and prices. Among the Grade C options,  there are many options available, including small-scale buildings and office spaces within residential complexes.

The outstanding office rental buildings in Ho Chi Minh City

Experience in leasing a suitable office

When leasing an office space in Ho Chi Minh City, the rental price is always a crucial factor to consider. What you need to focus on is the total cost you have to pay. The rental price is just a cost factor, so don’t solely choose a building based on comparing the unit price.Typically, a professional office building will have the following types of office rental costs:

1. Office rental fee
2. Service charges
3. VAT (Value Added Tax)
4. Electricity and air conditioning costs
5. Office electricity consumption costs
6. Car and motorcycle parking fees
7. Overtime charges
8. Interior construction service fees
9. Premises restoration costs
10. Determining the payable area
11. Exchange rate fluctuations affecting rental payments
12. Adjusting rental rates

Maison Office, an office rental service provider, supports customers in quickly finding office spaces with good rental prices. This is possible due to their market understanding, expertise, and strong partnerships with all office buildings. We ensure objectivity and transparency, allowing clients to directly receive quotes, evaluate and select suitable offices, and directly negotiate contracts. Maison Office will support clients in negotiating the best rental conditions for offices in Ho Chi Minh City.

Frequently asked questions when renting an office

1. Do renters have to pay brokerage fees?

Maison Office’s office rental service is entirely free for tenants. Clients do not have to pay any fees.

2. How does working outside of regular hours and the associated costs work?

– Office buildings usually operate from 8AM – 6PM on Weekdays and from 8AM – 12PM on Saturdays.– Overtime with central air conditioning usage: Additional fees apply.– Overtime without central air conditioning usage: Some buildings charge, using methods such as:

• Fixed rate: Per office (e.g., $20/office/hour, regardless of the office size)
• Based on the rental area: Applied by Grade A buildings, for example, $0.02/m2/hour
• Equipment-based: Buildings equipped with VRV inverter air conditioning can be charged per Fan Coil Unit (FCU), e.g., $15/FCU/hour (each FCU typically covers 40-60 m2)

3. How are payment terms and deposits handled?

Typically, buildings require a 3-month rent deposit and payment every 3 months in advance. Grade A, B, and C buildings usually do not negotiate this term.

4. What is the typical lease term for an office space?

– Generally, lease contracts are for a minimum of 3 years, although some buildings may accept 2-year leases. – Businesses looking to rent office spaces often prefer longer-term leases to minimize costs associated with office design and setup and to maintain stability in their office operations.

5. What are Gross and Net areas?

– NET area is the actual space that tenants pay for and use for their business purposes. Common areas such as restrooms, lobbies, hallways, elevators, and staircases are not included in the NET area, tenants are not required to pay rent for these areas.– GROSS area includes both the NET area (actual tenant space) and a portion of shared common areas, such as elevators, corridors, male and female toilets, reception areas, and fire exits.

Maison Office is a professional office for lease consulting company

Maison Office is a consultancy firm specializing in office rental services in Ho Chi Minh City. We have partnered with over 1500+ office buildings across all inner districts. Our goal is to assist customers in quickly finding the ideal office space that meets their specific requirements while ensuring the most cost-effective solution.