▶ RSQUARE Vietnam publishes Q4 2025 Market Report: 'Haiphong Rises, Da Nang Declines'
▶ Office rents in Ho Chi Minh City District 2 rise 3.1%… Hanoi’s Bac Tu Liem sees supply skyrocket over 350%
▶ Northern industrial belt displays strength… Double-digit growth in Haiphong, Ha Nam, and Hai Duong
The Vietnamese commercial real estate market is displaying distinct polarization patterns across its office and industrial sectors. In the office market, rental rate gaps between districts within major cities are widening, while the industrial sector has carved out a clear "three-tiered layout," with the Northern, Central, and Southern regions each moving in different directions.
RSQUARE VIETNAM, the Vietnamese subsidiary of comprehensive commercial real estate service firm RSQUARE (CEO: Lee Yong-gyun), published the 'Q4 2025 Vietnam Commercial Real Estate Market Report: Haiphong Rises, Da Nang Declines,' synthesizing complete enumerative data directly surveyed by on-site experts. Moving forward, RSQUARE VIETNAM plans to publish regular quarterly market reports.
■ Office Market: Emerging Business Districts Rise in HCMC, While Hanoi Undergoes Supply Restructuring
In the Ho Chi Minh City (HCMC) office market, rental rates continued to climb, driven primarily by emerging business districts.
In particular, the District 2 office market exhibited stark differentiation across its sub-districts. First, the Thu Thiem International Financial District drove a 3.1% year-on-year rental increase as newly built Grade A offices, such as 'The Mett' and 'The Hallmark,' rapidly resolved vacancies and began re-marketing remaining spaces at higher rental rates. Conversely, the Thao Dien and An Phru areas within District 2 faced limited rental growth due to an influx of new supply converted from retail assets into offices.
Meanwhile, District 7 maintained a solid growth trajectory with rental rates rising 2.5%, supported by ongoing corporate preference as a traditional business district for South Korean companies. On the other hand, Tan Binh District saw a 1.9% decline. In terms of supply, available space contracted in parts of Districts 2, 4, and 7, while expanding in Phu Nhuan and Binh Thanh.
Hanoi experienced relatively minor rental fluctuations, but its supply structure underwent substantial shifts. Nam Tu Liem registered the highest growth rate at 2.7%, followed by Dong Da (2.0%) and Cau Giay (1.8%). While Bac Tu Liem recorded a 1.7% decrease in rent, its available area skyrocketed by over 350%, reflecting a heavy concentration of newly injected supply.
■ Industrial Assets: Strong Northern Manufacturing Belt, Mixed Central Region, and Southern Outskirts Expansion
In the Northern industrial park zone, land rental rates jumped by double digits around major manufacturing hubs. Haiphong climbed by 11.7%, Ha Nam by 11.3%, and Hai Duong by 10.5%.
The Central region exhibited wide disparities by location. While Quang Nam (16.9%) and Binh Thuan (13.8%) posted high growth rates, Da Nang (-4.5%) and key adjacent industrial zones (-5.3%) experienced declines.
The Southern region charted an upward path, primarily centered on industrial strongholds located on the city outskirts. Vinh Phuc rose by 11.2%, Ba Ria-Vung Tau by 6.0%, and Binh Duong by 3.5%. Regarding ready-built factory and warehouse rental rates, Binh Duong recorded the highest growth at 10.4%, followed by Tay Ninh (8.3%) and Dong Nai (4.1%).
Backed by a proprietary database tracking over 40,000 commercial and industrial assets across Vietnam—which served as the foundation for this report—RSQUARE Vietnam has achieved a cumulative contract revenue of approximately 200 billion VND within just five years of its market entry. Having secured major global enterprises such as Samsung, CJ, Naver, and Hyundai Elevator as clients, the firm is successfully expanding its business scope beyond simple transaction brokerage into data-driven interior fit-outs and asset advisory services. Recently, it also introduced a map-based search feature on its website and integrated more than 80 pieces of new digital market content.
"The Vietnamese market is a place where you simply cannot survive without accurate data," stated Su-yeon Yoon, Head of the Global Investment Division at RSQUARE. "By publicly releasing the data we accumulated by personally pounding the pavement locally through these regular reports, we aim to deliver the most reliable guidelines for South Korean and multinational corporations looking to navigate this market."
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▶ RSQUARE Vietnam publishes Q4 2025 Market Report: 'Haiphong Rises, Da Nang Declines'
▶ Office rents in Ho Chi Minh City District 2 rise 3.1%… Hanoi’s Bac Tu Liem sees supply skyrocket over 350%
▶ Northern industrial belt displays strength… Double-digit growth in Haiphong, Ha Nam, and Hai Duong
The Vietnamese commercial real estate market is displaying distinct polarization patterns across its office and industrial sectors. In the office market, rental rate gaps between districts within major cities are widening, while the industrial sector has carved out a clear "three-tiered layout," with the Northern, Central, and Southern regions each moving in different directions.
RSQUARE VIETNAM, the Vietnamese subsidiary of comprehensive commercial real estate service firm RSQUARE (CEO: Lee Yong-gyun), published the 'Q4 2025 Vietnam Commercial Real Estate Market Report: Haiphong Rises, Da Nang Declines,' synthesizing complete enumerative data directly surveyed by on-site experts. Moving forward, RSQUARE VIETNAM plans to publish regular quarterly market reports.
■ Office Market: Emerging Business Districts Rise in HCMC, While Hanoi Undergoes Supply Restructuring
In the Ho Chi Minh City (HCMC) office market, rental rates continued to climb, driven primarily by emerging business districts.
In particular, the District 2 office market exhibited stark differentiation across its sub-districts. First, the Thu Thiem International Financial District drove a 3.1% year-on-year rental increase as newly built Grade A offices, such as 'The Mett' and 'The Hallmark,' rapidly resolved vacancies and began re-marketing remaining spaces at higher rental rates. Conversely, the Thao Dien and An Phru areas within District 2 faced limited rental growth due to an influx of new supply converted from retail assets into offices.
Meanwhile, District 7 maintained a solid growth trajectory with rental rates rising 2.5%, supported by ongoing corporate preference as a traditional business district for South Korean companies. On the other hand, Tan Binh District saw a 1.9% decline. In terms of supply, available space contracted in parts of Districts 2, 4, and 7, while expanding in Phu Nhuan and Binh Thanh.
Hanoi experienced relatively minor rental fluctuations, but its supply structure underwent substantial shifts. Nam Tu Liem registered the highest growth rate at 2.7%, followed by Dong Da (2.0%) and Cau Giay (1.8%). While Bac Tu Liem recorded a 1.7% decrease in rent, its available area skyrocketed by over 350%, reflecting a heavy concentration of newly injected supply.
■ Industrial Assets: Strong Northern Manufacturing Belt, Mixed Central Region, and Southern Outskirts Expansion
In the Northern industrial park zone, land rental rates jumped by double digits around major manufacturing hubs. Haiphong climbed by 11.7%, Ha Nam by 11.3%, and Hai Duong by 10.5%.
The Central region exhibited wide disparities by location. While Quang Nam (16.9%) and Binh Thuan (13.8%) posted high growth rates, Da Nang (-4.5%) and key adjacent industrial zones (-5.3%) experienced declines.
The Southern region charted an upward path, primarily centered on industrial strongholds located on the city outskirts. Vinh Phuc rose by 11.2%, Ba Ria-Vung Tau by 6.0%, and Binh Duong by 3.5%. Regarding ready-built factory and warehouse rental rates, Binh Duong recorded the highest growth at 10.4%, followed by Tay Ninh (8.3%) and Dong Nai (4.1%).
Backed by a proprietary database tracking over 40,000 commercial and industrial assets across Vietnam—which served as the foundation for this report—RSQUARE Vietnam has achieved a cumulative contract revenue of approximately 200 billion VND within just five years of its market entry. Having secured major global enterprises such as Samsung, CJ, Naver, and Hyundai Elevator as clients, the firm is successfully expanding its business scope beyond simple transaction brokerage into data-driven interior fit-outs and asset advisory services. Recently, it also introduced a map-based search feature on its website and integrated more than 80 pieces of new digital market content.
"The Vietnamese market is a place where you simply cannot survive without accurate data," stated Su-yeon Yoon, Head of the Global Investment Division at RSQUARE. "By publicly releasing the data we accumulated by personally pounding the pavement locally through these regular reports, we aim to deliver the most reliable guidelines for South Korean and multinational corporations looking to navigate this market."