New trends in Hanoi office market

VTV.vn - The demand for long-term office ownership in Hanoi is increasing sharply as businesses expand their operations, prioritizing modern spaces, many amenities and synchronous infrastructure locations.

According to data from the Ministry of Finance , in the first 10 months of this year, the number of newly established and re-operated enterprises increased by 26.5% compared to the same period last year. Along with the steady growth of foreign direct investment (FDI), the demand for office space of enterprises continues to increase. In Hanoi, instead of renting offices by the month or year, many enterprises have begun to look for long-term owned premises.

Having been looking for office space for a long time, Mr. Bui Quang Hiep ( Hanoi ) said that rental standards are getting higher and higher. Because not only temporary rental, many people also consider the possibility of buying back the space in the form of long-term ownership, to be able to proactively manage costs and reduce the risk of rental price fluctuations.

"Business owners are starting to become more professional when renting large office buildings as representative offices. The quality of service will be completely different. Having a team of service management, operations, and fire prevention and fighting staff will be much better," Mr. Hiep shared.

Mr. Dinh Duc Tuan - Hanoi City said: "Now it is forbidden to register businesses in apartments. In addition, after going through the COVID-19 pandemic, businesses see that office costs are a huge burden for businesses when times are tough. They will lose rent anyway, so they can own it."

Demand for long-term office ownership in Hanoi is increasing sharply.

According to Savills’s Hanoi market report for the third quarter, the total office supply reached 2.3 million square meters from 190 buildings, with an average occupancy rate of about 85%, reflecting the ability to fill in projects with good operating quality. Outside the inner city, the western area of ​​Hanoi is concentrating many new office buildings thanks to a relatively synchronous infrastructure system.

Ms. Do Thu Hang - Senior Director, Consulting and Research Department, Savills Hanoi said: "Tenants know they want quality, green certification, integrated amenities, around those buildings...".

The emergence of new office buildings, while the needs of businesses renting or buying are becoming more and more demanding, has helped office buildings in Hanoi rebuild their new identity in a more modern and convenient direction. The even distribution of projects to areas with many new routes and elevated train systems also helps reduce pressure on traffic and infrastructure for Hanoi.

Source: https://vtv.vn/xu-huong-moi-cua-thi-truong-van-phong-ha-noi-100251203063008347.htm