Hanoi's office leasing market continued to evolve in the second quarter of 2026 as new supply entered the market, while rental rates and vacancy levels adjusted across different office segments.
According to property consultancy CBRE, the quarter's key development was the launch of two new Grade A office buildings, marking the debut of a new office cluster in the Tay Ho Tay area. The projects added more than 73,000 sq.m of net leasable area (NLA), bringing the city's total office stock to approximately 1.96 million square meters of NLA.
Office demand remained resilient despite the increase in supply. Total net absorption exceeded 37,000 sq.m in the first half of 2026, indicating that leasing activity continued at a healthy pace.
Average rents for Grade A offices stood at $29.5 per sq.m per month, down 1.2% from the previous quarter and 1.6% year-on-year. Meanwhile, Grade B office rents averaged $14.8 per sq.m per month, remaining largely unchanged from the previous quarter and slipping just 0.7% compared with the same period last year.
The market also showed encouraging signs of sustained demand. During the first six months of 2026, expansion leases accounted for 39% of the total floor area involved in major leasing transactions, with most demand coming from companies in the information technology sector as well as financial, banking and insurance services.
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