Office rent in Ho Chi Minh City is the second highest in Southeast Asia

Knight Frank Vietnam has just released the KFVN1000 index – reflecting office rents in 20 major cities around the world. The report of Knight Frank Vietnam said that for 1,000 USD per month, it is possible to rent 36.2 m² Grade A office space in Hanoi, and 20.9 m² in Ho Chi Minh City.

“With the same amount of $1,000, in Ho Chi Minh City, only half of the Grade A office space can be rented due to the leased area in Hanoi, making the rental cost of Ho Chi Minh City about the same. costs in Berlin or Taipei,” said Leo Nguyen, Head of Strategy & Tenant Solutions at Knight Frank.

Meanwhile, leading the ranking is Hong Kong when with an amount of 1,000 USD/month, only 6.4 m2 of office space can be rented in the central area. In second place is London’s vibrant West End with 7 m2, and New York with 8.6 m2.

And Singapore is the city with the most expensive office rent in Southeast Asia. Tenants in this island nation can only use about 12 square meters of office space at a cost of $1,000 per month. Thus, the office rent in Ho Chi Minh City (20.9 m2) is the second highest in the list of 8 cities surveyed in Southeast Asia; followed by Bangkok (30.5 m2), Manila (34.4 m2), Hanoi (36.2 m2) and Jakarta (40.4 m2).

Overall, Knight Frank Vietnam rates Southeast Asia as one of the regions with the most affordable office costs in the world. The top five cheapest cities to rent are all in this region. With an area of ​​70.2 m² for $1,000 per month, Kuala Lumpur is the city with the most favorable rental rates, ahead of Phnom Penh, Jakarta and Hanoi.

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