Tags: Office Market News,
Author: Admin STS,
Date posted: 31/05/2026

Ho Chi Minh City Office Market Report Q2 2026

June 2026 Market Update l SEE the SPACE - Your Space, Expertly Guided

Ho Chi Minh City Office Market Report Q2 2026: Expanding Supply Supports a More Balanced Leasing Environment

The Ho Chi Minh City office market continued to demonstrate resilience in Q2 2026, supported by steady occupier demand and a growing pipeline of newly completed office developments. As additional Grade A and Grade B projects entered the market, tenants benefited from a broader range of options and increasingly competitive leasing conditions.

While prime office buildings in core business districts continued to achieve strong occupancy levels, the market has gradually shifted toward a more balanced environment, providing occupiers with greater flexibility when evaluating relocation, expansion, or workplace optimization strategies.

Executive Summary

Key Market Highlights

Total office stock in Ho Chi Minh City reached approximately 7.63 million sq m
Grade A office supply increased by nearly 12% year-on-year
Overall market occupancy remained healthy at approximately 88%–91%
Thu Thiem continued to lead new office supply growth
Rental rates remained broadly stable across all market segments
Tenants gained stronger negotiating leverage, including rent-free periods and fit-out contributions
Demand remained driven by companies in technology, finance, logistics, professional services, and multinational corporations

The Ho Chi Minh City office market recorded continued growth in Q2 2026, supported by expanding office supply, stable rental rates, and sustained occupier demand across key business districts.

Market Overview

The Ho Chi Minh City office market maintained positive momentum throughout Q2 2026, supported by continued business expansion and stable economic growth.

Foreign direct investment (FDI) remained a key driver of demand, particularly among multinational corporations seeking high-quality office space in strategically located business districts. Demand was especially strong for buildings offering international operating standards, modern workplace environments, and sustainability credentials.

Between 2024 and 2026, a significant number of new office developments were completed and delivered to the market. This wave of supply has expanded tenant choice considerably and contributed to a gradual transition from a landlord-favored market toward a more balanced leasing environment.

As competition among landlords increases, occupiers are benefiting from improved lease incentives and greater flexibility in negotiations.

Office Supply

Total Market Stock

According to SEE the SPACE, total office stock in Ho Chi Minh City reached approximately 7.63 million sq m, representing annual growth of approximately 5%–6%.

The market includes:

Grade A Office Space: approximately 994,746 sq m
Grade B Office Space: approximately 2.27 million sq m

New supply during the period was concentrated in several key submarkets:

District 1
Thu Thiem
Binh Thanh District
District 7

Among these locations, Thu Thiem continues to emerge as Ho Chi Minh City's most significant new office destination. The area has attracted substantial investment in institutional-grade office developments capable of accommodating large corporate occupiers while meeting international standards for design, sustainability, and operational performance.

Rental Rates by Location

Location	Grade A (USD/sq m/month)	Grade B (USD/sq m/month)
District 1 (CBD)	35 – 66+	20 – 45
Thu Thiem	30 – 50	20 – 35
District 3	26 – 40+	16 – 35
Binh Thanh District	18 – 35	14 – 28
District 7	18 – 38	15 – 30

Rental rates remained generally stable throughout Q2 2026.

Prime Grade A buildings within the Central Business District continued to command premium rents due to their strategic locations, superior asset quality, and strong occupier demand. Meanwhile, emerging business districts such as Thu Thiem offered competitive alternatives for tenants seeking modern office space with greater scalability.

The market also experienced increasing competition within the Grade B segment as occupiers focused on balancing cost efficiency with workplace quality and corporate image.

Occupancy Performance

Despite the continued expansion of office stock, occupancy levels remained healthy across most market segments.

Occupancy Rates

CBD Grade A: 88.5%–92%
Non-CBD Grade A: 85%–89%
Grade B: 86%–91%
Overall Market: 88%–91%

The sustained performance reflects stable demand from both domestic and international occupiers.

Buildings offering green certifications, modern amenities, efficient floor plates, and strong property management capabilities continued to outperform the broader market.

SEE the SPACE Market Perspective

According to SEE the SPACE, the Ho Chi Minh City office market is entering a more balanced phase as new supply gradually alleviates pressure experienced during previous supply-constrained cycles.

While premium office assets continue to attract strong occupier demand, tenants are increasingly benefiting from greater market transparency, a wider selection of available buildings, and more attractive leasing incentives.

Current market conditions present a favorable opportunity for occupiers to reassess workplace strategies, evaluate relocation options, and secure long-term lease commitments under increasingly competitive terms.

Key office submarkets expected to remain active throughout 2026 and 2027 include:

District 1
Thu Thiem
Binh Thanh District
Phu Nhuan District
District 7

These locations continue to benefit from significant infrastructure investment, improving connectivity, and ongoing office development activity.

New-Generation Office Developments Continue to Shape the Market

Recent office developments entering the market reflect a growing emphasis on workplace experience, sustainability, and operational efficiency.

Many newly completed Grade A and Premium Grade A buildings incorporate:

International property management standards
Sustainable and energy-efficient building design
Flexible workplace solutions
LEED and WELL certifications
Smart building technologies
Enhanced employee wellness facilities

These features have become increasingly important as occupiers prioritize employee engagement, ESG objectives, and long-term workplace performance.

Thu Thiem remains at the forefront of this trend, offering a modern business environment supported by master-planned infrastructure and high-quality commercial developments.

Evolving Occupier Requirements

Tenant priorities continue to evolve beyond traditional considerations such as rental cost and location.

Today's occupiers are placing greater emphasis on:

Employee experience and wellbeing
ESG and sustainability objectives
Talent attraction and retention
Workplace flexibility
Operational efficiency
Future scalability

As a result, office buildings capable of delivering a superior workplace experience are achieving stronger leasing performance and maintaining competitive advantages within the market.

Emerging Office Leasing Trends

Green Buildings Become a Strategic Priority

Demand for buildings with LEED and WELL certifications continues to increase as companies integrate sustainability objectives into broader corporate strategies.

Occupiers increasingly recognize the role of workplace environments in supporting employee wellbeing, corporate responsibility initiatives, and long-term operational performance.

Growing Adoption of Flexible Workspace Solutions

Hybrid workplace models continue to gain traction across multiple industries.

Many organizations are combining traditional office space with flexible workspace solutions to improve operational agility and support evolving workforce requirements.

Focus on Space Optimization

Rather than expanding office footprints, many occupiers are prioritizing workplace efficiency through open-plan layouts, collaborative environments, and technology-enabled workplace strategies.

Thu Thiem Attracts International Occupiers

As infrastructure improvements continue and new developments reach completion, Thu Thiem is attracting growing interest from multinational corporations operating within finance, technology, consulting, and professional services sectors.

Opportunities for Tenants in H2 2026

The expansion of office supply is creating favorable conditions for occupiers seeking new workspace solutions.

Businesses currently have greater opportunities to:

Compare a wider range of office options
Secure more competitive rental packages
Negotiate longer rent-free periods
Obtain fit-out contributions from landlords
Align workplace decisions with long-term growth strategies

For many organizations, the second half of 2026 presents an ideal opportunity to evaluate relocation plans, office upgrades, or portfolio optimization initiatives.

Market Outlook

SEE the SPACE expects the Ho Chi Minh City office market to maintain positive momentum through the remainder of 2026.

While additional office supply will increase competition among landlords, underlying demand from domestic enterprises and multinational corporations is expected to remain a key driver of market performance.

The strongest leasing activity is expected to continue within:

District 1
Thu Thiem
Binh Thanh District
District 7
Phu Nhuan District

Over the longer term, buildings that successfully combine international standards, sustainability credentials, operational excellence, and superior workplace experiences will be best positioned to attract and retain high-quality occupiers.

Looking for Office Space in Ho Chi Minh City?

Whether you are seeking a premium Grade A office in District 1, a next-generation workplace in Thu Thiem, or a cost-effective solution to support business expansion, SEE the SPACE is ready to assist.

SEE the SPACE – Your Space, Expertly Guided

We help businesses identify, evaluate, and negotiate office solutions aligned with their operational requirements and long-term growth objectives.

✓ Complimentary Leasing Consultation

✓ Multiple Building Tours Arranged Within a Single Schedule

✓ Lease Negotiation and Commercial Advisory Support

✓ End-to-End Assistance From Site Selection to Office Handover

Contact Us

📞 Hotline: +84 768 999 647

✉ Email: leasing@seethespace.vn

🌐 Website: www.seethespace.vn

📍 Level 11, Deutsches Haus, 33 Le Duan Boulevard, Sai Gon Ward, Ho Chi Minh City, Vietnam

Conclusion

Q2 2026 represents another positive milestone for the Ho Chi Minh City office market as expanding supply provides occupiers with greater flexibility and choice.

For businesses evaluating their workplace strategy, current market conditions offer a valuable opportunity to compare alternatives, negotiate favorable lease terms, and secure high-quality office space that supports future growth.

As the market continues to mature, tenants who proactively assess opportunities will be well positioned to benefit from the increasingly competitive leasing landscape.