Industrial real estate rental in Vietnam up 10% in 2022

The rental of industrial real estate in Vietnam in 2022 went up 10% year-on-year to an average $100-120 per square meter, according to the Vietnam Association of Realtors.

The association (VARS) added that rent would continue on an upward trend, especially in the southern region, due to supply shortages.

VARS data shows that the price was the highest in Ho Chi Minh City, at between $180 and $300 per square meter per lease period. The figures were $125-175 in Long An province, $100-250 in Binh Duong province, and $100-200 in Dong Nai province, all manufacturing centers in southern Vietnam.

In the northern region, rent was lower at between $90 and $120.

In 2021-2030, Hung Yen province is the locality with the biggest land bank in the country for industrial real estate development of over 15,000 hectares, followed by Hai Duong and Thai Binh provinces and Hai Phong city.

The country’s planning now features 563 industrial parks, of which 397 were established, 292 are operational and cover 87,100 hectares (58.7 hectares of industrial land), and 106 industrial parks of 35,700 hectares (23.8 hectares of industrial land) are under construction.

The occupation rate reached 80%, of which the southern province of Binh Duong with 29 industrial parks had the highest figure in the country at 95%.

Industrial parks and economic zones in Vietnam have so far attracted 10,000 domestic and 11,000 foreign investment projects, with a total registered capital of $340 billion, according to the association.