Outlook 2023 Vietnam

HO CHI MINH CITY RENT GROWTH

RENT (USD/SQM/MO) AND RENT GROWTH (% PER ANNUM)

FORECAST

65

4.0%

 Overall, citywide average rent is expected to be stable in 2022-2024 period with less than $1 increase per annum. After that, a 2-3% growth is expected in 2025-2026 as new high-quality supplies entering the CBD submarket.  New supply is generally expected to have above-average asking rent. Specifically, new projects in CBD areas may have asking rents of up to $73 (two projects) and $76 (one project).

64

3.0%

63

62

2.0%

61

60

1.0%

59

0.0%

58

57

-1.0%

56

55

-2.0%

2020

2021

2022F 2023F 2024F 2025F 2026F USD/SQM/MO Rent growth (%)

Source: Cushman & Wakefield