Rental Office Market Went Down in May

Rental Office Market Went Down in May.

Compared to the previous month, rental office market in May 2015 saw no sign of improvement. Vacancy rate remained high level, especially at A-class office buildings in two major cities of Hanoi and Ho Chi Minh City

According to a market survey of PDReal’s Board of Market Research, rental office segment experienced a quiet month with no improvement. The number of new transactions was very modest while many office buildings had to face high vacancy rate.

A representative of PDGroup Viet Nam said, despite diverse supply, rents of offices in Ho Chi Minh City were still high. Occupiers had many choices, so they were more careful in selecting offices as well as more difficult in making decisions. Rental Office Market Went Down in May.

With the same point of view, Mr. Eric Le, who is an office broker in HCMC, said: “The market is going down compared to 2014.” According to Tinh, occupiers today preferred small-sized offices and tend to leave central districts to outlaying areas with the aim of reducing cost.

On the whole, rents of offices still remained high. Particularly, in some projects, rents fell from $ 1-2 to attract occupiers. Rental Office Market Went Down in May.

Hanoi rental office market in May did not record any increase in supply but vacancy rate was quite high, especially at A-class and B-class buildings. Small-sized office with rents under VND 10 million per month continued to be the most active segment.

However, the number of offices that meet all requirements of customers was limited. Rents of offices in May did not rise. Rental Office Market Went Down in May.

The survey showed, rents of A-class offices ranged from $25-35 per sqm. B-class and C-class ones were offered for rent at $15-25 per sqm and $10-13 per sqm respectively. Rents of mini offices were set at $ 7-9 per sqm. Rental Office Market Went Down in May.

Unlike rental offices, segments of rental apartments and rental warehouses maintain a steady growth in May. Notably, rental warehouse segment enjoyed increasing demand thanks to business expansion of domestic firms in the first five months of this year. Rental Office Market Went Down in May.

(Source: Nhip song thoi dai)

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