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How will office rent move?
At least three foreign property management and consulting firms in Vietnam, namely CB Richard Ellis (CBRE), Savills and Jones Lang LaSalle, have shrugged off Cushman &Wakefield's projection.
They share a view that office rent will remain firm or drop slightly rather than sharply because of high demand.
"We do not think rent will fall quite as dramatically as some are suggesting, particularly in the Grade A office sector," says Brett Ashton, managing director of Savills Vietnam.
He says there is office space available here but supply is not redundant to cause the rent to plunge as forecast by Cushman & Wakefield.
Toby Dodd, general manager of Cushman & Wakefield in Vietnam, says office rent in Vietnam will stabilize at US$30 per square meter for Grade A, US$20 for Grade B and US$10 at Grade C. These are the same as in regional cities such as Thailand's Bangkok, Indonesia's Jakarta, Malaysia's Kuala Lumpur and the Philippines' Manila.
"That's why I......
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Title: A Controversy Over Office Rent Forecast
Approximate Word Count: 1304
Approximate Pages: 6 (250 words per double-spaced page)
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