What is the average Class A rent in Hanoi?

Around 312 USD/sqft/yr ($312 USD) across the broader Class A index. Trophy submarkets like Ba Dinh command 20–40% above that.

How many months of rent-free are normal in Hanoi?

6 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Hanoi?

The Hanoi Class A market is currently rising. Vacancy is 14.4%, which sets the negotiating context.

Headline Class A rent in Hanoi is around 312 USD/sqft/yr ($312 USD), with 6 months of typical rent-free on a 5-year term.

Headline Class A rent: 312 USD/sqft/yr ($312 USD).
Trophy submarket rents (Ba Dinh) push to roughly $360/sqm/yr · ≈ $33.4 PSF/yr USD.
Typical concessions on a 5-year deal: 6 months free rent.
Vacancy stands at 14.4% — market trend is rising.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Hanoi Class A office rents and incentives

Headline Class A rent in Hanoi is around 312 USD/sqft/yr ($312 USD), with 6 months of typical rent-free on a 5-year term.

TL;DR

Headline Class A rent: 312 USD/sqft/yr ($312 USD).
Trophy submarket rents (Ba Dinh) push to roughly $360/sqm/yr · ≈ $33.4 PSF/yr USD.
Typical concessions on a 5-year deal: 6 months free rent.
Vacancy stands at 14.4% — market trend is rising.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Hanoi are quoted in USD per sqft per year. Across the broad Class A index the figure is 312, but the trophy tier in Ba Dinh reaches roughly $360/sqm/yr · ≈ $33.4 PSF/yr USD. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Hanoi concessions on a 5-year Class A lease run to 6 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — Vietnamese corporate tax of 20% (15-17% for high-tech and special economic zones; 10% for HSR / high-tech for first 15 years). 10% VAT.

Where rents land by submarket

Ba Dinh sits at the top end (~$360/sqm/yr · ≈ $33.4 PSF/yr USD). West Lake / Tay Ho clears around $336/sqm/yr · ≈ $31.2 PSF/yr USD as the prime tier. Dong Anh / Bac Ninh Corridor represents the value end at ~$240/sqm/yr · ≈ $22.3 PSF/yr USD. The full submarket map is on the Hanoi city page.

Key facts

city	Hanoi
country	Vietnam
region	APAC
classARentLocal	312 USD/sqft/yr
classARentUsd	$312/sqft/yr
vacancy	14.4%
typicalLeaseYears	5
typicalRentFreeMonths	6
submarkets	5
primeYieldPct	7.6%
trophyRent	$360/sqm/yr · ≈ $33.4 PSF/yr USD
primeRent	$336/sqm/yr · ≈ $31.2 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Hanoi?: Around 312 USD/sqft/yr ($312 USD) across the broader Class A index. Trophy submarkets like Ba Dinh command 20–40% above that.
How many months of rent-free are normal in Hanoi?: 6 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Hanoi?: The Hanoi Class A market is currently rising. Vacancy is 14.4%, which sets the negotiating context.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction