Summary and analysis of Ho Chi Minh City's current retail real estate market conditions.
Insight
10 February 2026
Ho Chi Minh City Retail Market Dynamics Q4 2025
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The market recorded strong net absorption of nearly 8,000 sqm in Q4, reaching 12,000 sqm for 2025. Prime mall supply remained steady, with Saigon Marina IFC adding 12,500 sqm to the City Centre and bringing total prime space there to 96,500 sqm. Vacancy rates rose to 8.3% in the City Centre but declined to 2.7% in the City Fringe. Rents remained resilient, with City Centre averaging USD 235/sqm/month and City Fringe rising to USD 66/sqm/month.
Looking ahead to 2026, JLL anticipates stable prime supply and declining vacancy rates as retailers focus on experience-driven concepts and adaptable strategies to meet evolving consumer demands despite macroeconomic challenges.
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