A New Generation of Employees Are Redefining the Ideal Office

According to Savills’ Impacts report, by 2034, Millennials, Gen Z, and Gen Alpha are expected to comprise around 80% of the workforce in developed economies. The growing presence of younger talent is prompting employers to rethink the office landscape. These generations prioritise well-being, community, mental health, and flexibility, and expect their work environment to actively support these values.

In Viet Nam, this opinion is reflected in the rising demand for high-quality office buildings with open layouts, natural lighting, ergonomic interiors, and integrated work-life amenities. Lai Thi Nhu Quynh, Associate Director of Commercial Leasing at Savills HCMC, explains:

“While the pandemic accelerated a shift in pushing companies to re-evaluate the function of a workplace, today’s hybrid office model has become the norm amid a more dynamic and younger workforce. Offices are no longer just a place to work; they now serve as hubs for collaboration, innovation, and talent attraction.”

Sustainable Environments and High-Quality Offices Are The Workplace Revolution

The push toward sustainability is increasingly influencing office leasing decisions, particularly among multinational corporations, a segment that accounts for 82% of new lease transactions in HCMC in Q1/2025. Across the Asia-Pacific region, ensuring a building has "green standards" is now also bringing a “green premium", or a rental price gap averaging around 10% between certified and conventional buildings. Certifications such as WELL, LEED, BREEAM, and Green Mark are not just about corporate image; they signify real commitments to net-zero goals.

In Viet Nam, although the adoption of these standards is still in its early stages, the trend is becoming unavoidable, especially in newly developed buildings targeting international tenants. Notably, foreign companies remain the dominant leasing force in HCMC during Q1/2025, accounting for 82% of new demand.

Another key highlight is the growing tenant preference for high-end office spaces that support both mental and physical well-being. Rather than focusing solely on size or location, today’s workforce is seeking multifunctional, well-equipped, and character-rich spaces that actively reinforce company culture and employee engagement.

In the Asia-Pacific region, specifically in Viet Nam, a new wave of "resort" offices is emerging. These spaces integrate amenities such as gyms, nursing rooms, relaxation areas, and a range of flexible support zones. In HCMC, the average office rent has risen to VND 833,000/m²/month (up 2% QoQ and 4% YoY), reflecting tenants’ willingness to pay more for these added benefits.

In leading regional markets (Japan, South Korea, and Singapore), the concept of the “ultra-prime workplace”, where there is a blend of resort-style amenities, creative spaces, and wellness centres, is fast becoming the new benchmark for the A segment.

The Uneven Acceptance of Hybrid Models

The hybrid working model continues to reshape how office space is utilised, with adoption varying significantly by industry. While major financial institutions, such as J.P. Morgan Chase, Citigroup, and Goldman Sachs, are calling employees back to the office full-time, the technology, manufacturing, and consulting sectors are maintaining more flexible arrangements.

According to Savills Viet Nam’s Q1 2025 data, the Information & Communications Technology (ICT) sector led new leasing activity in HCMC, accounting for 35% of total new take-up. This was followed by Finance–Insurance–Real Estate (FIRE) at 14%, manufacturing at 13%, and consulting at 10%.

Gen Z( the emerging workforce) tends to spend more time in the office than previous generations, with a difference of up to 12%. For this group, in-person learning, mentorship, and networking are essential to career development. 

However, this does not equate to inefficient use of space. On the contrary, a new pattern of “peak days” is emerging, with higher attendance from Tuesday to Thursday and lighter traffic on Mondays and Fridays. This shift is prompting occupiers and landlords to rethink office design, from team-based workspace layouts to dynamic scheduling that aligns with employee attendance.

Another key shift is the changing dynamic between landlords and tenants. Traditionally a transactional relationship, office leasing is now moving toward a more strategic and sustainable partnership model. Tenants today will prioritise service quality, user experience, and flexibility over the physical space.

Landlords are adapting quickly and have committed to easing lease terms, enhancing building amenities, and offering value-added services designed to improve retention and long-term occupancy.

“In a multigenerational workforce and an era defined by rapid change under the Fourth Industrial Revolution, the ability to understand, adapt, and effectively respond to evolving workplace trends is critical,” said Associate Director Quynh. “This is the key for occupiers and commercial property investors to maintain a competitive advantage and ensure sustainable growth.”