Ho Chi Minh City Figures Q4 2025

Office: In 2025, expansion was the primary transaction purpose, representing 49% of the major leasing area, with 80% of expansion deals occurring in Grade A buildings. Relocation ranked second, accounting for 45% of total transaction area, over half of which involved moves into Grade A offices.
Retail: HCMC’s vacancy rates in CBD area was hit a record low 3.4%. Even in non-CBD area, the vacancy rate remain moderated at 5.8%. The scarcity of quality retail space has driven asking rents in HCMC up by 3–6% compared to last year. Asking rent projected to continue rising in 2026, as future supply in 2026 remains limited.
Residential: In the former HCMC, the market recorded 3,135 newly launched condominium units but an exceptional 4,569 landed properties - a standout surge for this type. Most condominium supply continued to stem from subsequent phases of existing projects, while a single landed project in Can Gio alone delivered a record‑setting volume of new supply for the landed property segment.
Industrial land: Industrial land demand surged, with over 100 ha absorbed in the last six months (accounting for two-thirds of the total for the year). Better infrastructure drove the average asking price in the South to USD 183/m² (+4.4% vs 2024).
RBW/RBF segment recorded a record-breaking year, with ready-built warehouse absorption hitting a five-year high (>466,000 m²), driven by e-commerce and logistics. Strong demand pushed warehouse monthly rents to USD 5.0/m² (+6.3%) and factory rents to USD 5.2/m² (+3.7%).