The office market is recovering strongly, with green offices gaining popularity.

According to Savills Vietnam's Q2 2025 Vietnam Real Estate Market Report, in Ho Chi Minh City, demand from technology, finance, banking, insurance, and education businesses continues to drive market stability. The occupancy rate currently stands at 88%, while the average rental price is recorded at VND 843,000/m²/month, indicating a stable trend amidst limited new supply.

Meanwhile, the Hanoi office market showed stability amidst global uncertainties. Total supply reached approximately 2.28 million square meters of leasable floor space from 193 projects; the inner city and western areas accounted for a large proportion, while the Central Business District (CBD) continued to experience a shortage of Grade A office supply.

New, high-quality projects outside the city center are attracting strong interest from tenants, especially newly completed Grade A buildings with more reasonable costs. Leasing activity mainly stems from relocation and expansion needs, reflecting a trend towards moving to more cost-effective areas outside the city center. The market remains stable with an average rental price of approximately VND 564,000/m2/month and an occupancy rate of 83%.

Similarly, research by Avison Young Vietnam shows that in Q2 2025, new projects such as Betrimex Tower and Yteco Office Tower will become operational in Ho Chi Minh City, adding 15,200 m2 to the market. Meanwhile, demand for high-end office space remains strong. Changes in working models and the projected increase in supply from the second half of 2025 will impact the market in the coming period.

Regarding the Hanoi office market, Mr. Pham Minh Tuan, Director of the Hanoi branch of Avison Young Vietnam, commented: The Hanoi office market is witnessing increasing development in areas outside the city center. This reflects the trend of restructuring working models, combining cost savings with modern, environmentally friendly space standards. Hanoi is also seeing strong interest from businesses in the finance, insurance, and information technology sectors.

According to Savills Vietnam, both markets are witnessing a transformation of offices from traditional workspaces into strategic platforms for long-term networking, innovation, and human resource development. In Ho Chi Minh City, green-certified offices are becoming the standard in the Grade A segment.

As of Q2/2025, 73% of Grade A office supply will have achieved green certification (LEED, EDGE, BCA), including all new projects in the past three years. Green-certified office buildings command up to 10% higher rental rates due to optimized operating costs and high efficiency. Multinational corporations are increasingly prioritizing green-certified offices to meet their ESG goals.

Similarly, in Hanoi, as of Q2/2025, 41% of Grade A office space and 4% of Grade B office space had achieved green building certification, demonstrating growing interest in sustainability from both developers and tenants.

By the end of 2025, three more Grade A office projects are expected to receive LEED certification, contributing to the expansion of green office supply and promoting the shift towards a more sustainable commercial real estate market in Hanoi.

“These green rental rates are projected to continue rising in the future as regulations become stricter, ESG standards for businesses are more widely applied, and ‘green cleaning’ activities are more closely monitored. Simultaneously, the concept of ‘brown price reductions,’ meaning rent cuts for less sustainable buildings, is emerging as a trend opposite to green rental rates,” Savills Vietnam experts commented.

Source: https://doanhnghiepvn.vn/kinh-te/thi-truong-van-phong-phuc-hoi-tich-cuc-van-phong-xanh-len-ngoi/20250726101640872