Prices of Grade A office space rise due to low supply Prices of Grade A offices in the capital have been forecast to rise over the next three years by seven percent annually due to low supply. Do Thu Hang, Director of the Research and Consultancy Department at Savills, Hanoi, said Grade A offices accounted for 28 percent of the total supply of 1.8 million sq.m2 of office rentals in the city. Currently, Grade A office rental costs are 31 USD per sq.m per month on average. Some offices in the inner city cost 35 USD. “It is the highest price in seven years,” Hang said, adding that in the high-end office catalogue, Hanoi ranked fourth in terms of capacity and third in terms of rental prices in the country. While high-end office space attracts 60 percent of foreign tenants thanks to strong developments in FDI and M&As in Vietnam, there are not many options left now. In the inner city, due to limited space for building due to local regulations, many offices are old and lacking modern utilities. Offices in the Old Quarter were unlikely to be upgraded in the next 10 year, according to Savills, so in Hoan… Read full this story
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