What is the average Class A rent in Ho Chi Minh City?

Around 1500000 VND/sqft/yr ($59 USD) across the broader Class A index. Trophy submarkets like District 1 command 20–40% above that.

How many months of rent-free are normal in Ho Chi Minh City?

4 months on a 3-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Ho Chi Minh City?

The Ho Chi Minh City Class A market is currently rising. Vacancy is 7.4%, which sets the negotiating context.

Headline Class A rent in Ho Chi Minh City is around 1500000 VND/sqft/yr ($59 USD), with 4 months of typical rent-free on a 3-year term.

Headline Class A rent: 1500000 VND/sqft/yr ($59 USD).
Trophy submarket rents (District 1) push to roughly ₫1,700,000/sqm/mo · ≈ $73.9 PSF/yr USD.
Typical concessions on a 3-year deal: 4 months free rent.
Vacancy stands at 7.4% — market trend is rising.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Ho Chi Minh City Class A office rents and incentives

Headline Class A rent in Ho Chi Minh City is around 1500000 VND/sqft/yr ($59 USD), with 4 months of typical rent-free on a 3-year term.

TL;DR

Headline Class A rent: 1500000 VND/sqft/yr ($59 USD).
Trophy submarket rents (District 1) push to roughly ₫1,700,000/sqm/mo · ≈ $73.9 PSF/yr USD.
Typical concessions on a 3-year deal: 4 months free rent.
Vacancy stands at 7.4% — 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 Ho Chi Minh City are quoted in VND per sqft per year. Across the broad Class A index the figure is 1500000, but the trophy tier in District 1 reaches roughly ₫1,700,000/sqm/mo · ≈ $73.9 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 Ho Chi Minh City concessions on a 3-year Class A lease run to 4 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 — 20% Vietnamese corporate income tax. 10% reduced rate for high-tech and selected sectors. VAT 10%. High-tech zone incentives (4 years tax holiday + 9 years 50% reduction) available in qualifying parks.

Where rents land by submarket

District 1 sits at the top end (~₫1,700,000/sqm/mo · ≈ $73.9 PSF/yr USD). District 7 (Phu My Hung) clears around ₫900,000/sqm/mo · ≈ $39.1 PSF/yr USD as the prime tier. The full submarket map is on the Ho Chi Minh City city page.

Key facts

city	Ho Chi Minh City
country	Vietnam
region	APAC
classARentLocal	1500000 VND/sqft/yr
classARentUsd	$59/sqft/yr
vacancy	7.4%
typicalLeaseYears	3
typicalRentFreeMonths	4
submarkets	5
primeYieldPct	6.4%
trophyRent	₫1,700,000/sqm/mo · ≈ $73.9 PSF/yr USD
primeRent	₫900,000/sqm/mo · ≈ $39.1 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Ho Chi Minh City?: Around 1500000 VND/sqft/yr ($59 USD) across the broader Class A index. Trophy submarkets like District 1 command 20–40% above that.
How many months of rent-free are normal in Ho Chi Minh City?: 4 months on a 3-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Ho Chi Minh City?: The Ho Chi Minh City Class A market is currently rising. Vacancy is 7.4%, which sets the negotiating context.

Editorial provenance

Reviewed by Kenji Watanabe — APAC contributing editor. 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