Office Occupancy in HCM City Hits 6-Year High in Q3: Savills

Tuan Minh

11:49 16/11/2015

BizLIVE - The office index in Ho Chi Minh City in Q3/2015 rose three points quarter-on-quarter and four points year-on-year to 81, according to Savills Vietnam.

Office Occupancy in HCM City Hits 6-Year High in Q3: Savills

A view of HCM City's Eastern region. (Photo: www.doanhnhansaigon.vn)

The office occupancy rate in the city increased 1% quarter-on-quarter and 3% year-on-year in Q3/2015, reaching the highest level in the last six years, Savills Vietnam said in a recently-released report.
“Growth in foreign direct investment and gross domestic product in HCMC in 9M/2015 is anticipated to flow through to office demand,” Savills Vietnam said in a recently-released report.
In Q3/2015, total office take-up was more than 63,000 square meters, increasing 148% quarter-on-quarter and 112% year-on-year, mostly from Grade A and B buildings.
With the entry of 11 new projects, total supply is expected to be approximately 1.6 million square meters by the end of 2016, increasing 7% compared with 2015, the property brokerage agency said.
Savills Vietnam added that the residential index in the city slid 0.5 point quarter-on-quarter tp 88.9 in Q3/2015.
There was a strong increase in transaction volume with approximately 5,220 sales, up 4% quarter-on-quarter and 59% year-on-year, the highest in the last five years, it said.

TUAN MINH

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