According to data from CBRE Company, the Hanoi office market welcomed a new B-class project in the first 3 months of 2025, providing the market with about 8,429m2, bringing the total office area for rent to 1.86 million m2.
Office rental prices of class A and B (high-end, mid-range) also showed a slight increase, some office buildings in Ba Dinh - Dong Da area and the western area of Hanoi have a good occupancy rate.
Accordingly, the rental price of class A segment reached 29.7 USD/m2/month, up 1.3% quarter-on-quarter and 1.6% year-on-year. Similarly, the rental price of the class B segment reached 15.0 USD/m2/month, up 1.6% compared to the previous quarter and 2.5% compared to the same period last year.
Notably, the office absorption area in the Hanoi market in the first quarter of 2025 reached more than 30,000 m2, equivalent to about 30% of the total absorption area in 2024.
The average trong rate of the class A office segment decreased by 2.3 percentage points compared to the previous quarter and increased by 2.1 percentage points compared to the same period last year, reaching 22.1%; while the trong rate of class B projects reached 15.1%, down 0.8 percentage points quarter-on-quarter and down 3.4 percentage points year-on-year.
Ms. Nguyen Hoai An - Director of CBRE Hanoi - said that in the remaining time of 2025, the market is expected to welcome new new office projects concentrated in Ba Dinh - Dong Da district and the western districts of Hanoi, creating a positive driving force for market development. In particular, there is an increase in projects that have achieved green construction certification.
In recent years, the number of office buildings that have achieved green building certificates has increased rapidly, from 9 Class A and B office projects that achieved green certificates in 2023 to 16 Class A and B office projects that achieved green certificates in 2024.
A survey conducted by CBRE in March 2025 showed that green office buildings achieved an occupancy rate of 2% higher than regular office buildings in the Asia-Pacific region.
Based on the requirements from international tenants that CBRE observes in the market, green certificates are gradually becoming a necessary factor rather than just a requirement, especially for multinational companies.
Ms. Hoang Nguyet Minh - Senior Director, Commercial Leasing Department, Savills Hanoi - commented that the office market in 2024 has had a good bounce in the second half of the year.
In 2025, the market is expected to have many new sources of supply. This is one of the advantages for tenants, while increasing the competitiveness of investors in terms of rental price, building quality, and other rental incentives to attract tenants.
However, it should be noted that the abundant new supply could reduce the market's occupancy rate.
