Ho Chi Minh City Figures Q2 2025

Office: Grade A offices continued to experience improvement in vacancy rate, decreased by 0.9 ppts y-o-y, at 16.9%, mainly driven by the trend of tenants opting for high-quality buildings in District 1 and Thu Duc City. 
Retail: The HCMC retail market in Q2 2025 recorded no new supply. The city net absorption was 5,790 sqm, an 8% decrease from the previous quarter. The vacancy rate in the CBD area remained stable at 5.2%. Meanwhile, the non-CBD vacancy rate dropped to 8.0%, a decrease of 0.6 percentage points q-o-q.
Residential: The number of new launches in HCMC remained modest with a total of 1,400 new high-rise supply and 74 new low-rise supply in H1 2025. The primary prices continued to increase 7% q-o-q for condominium but declined 2% q-o-q for landed property as new landed property developments located in the fringe area.
Industrial land: The market experienced H1 2025 slowdown due to US-Vietnam tariff concerns. New leases totaled 55 hectares, 42% lower than the Q1 2023-Q1 2025 average. 
RBW/RBF: The market showed significantly improved performance, driven by logistics and e-commerce, absorbing 300,000 sqm (warehouses) and over 400,000 sqm (factories) for first 6 months 2025. By Q2 2025, occupancy reached 74% (warehouses) and 93% (factories).