Southern Vietnam sees surge in industrial land prices

Public at: 14/08/2020 09:33:01

Average Q2 leasing costs at industrial parks in Ho Chi Minh City (HCMC) and southern provinces rose to $106 per square meter, a 9.7 percent year-on-year increase. HCMC had the highest rent at $182.3 per square meter per lease term, followed by Long An ($133), Dong Nai ($98), Binh Duong ($88) and Ba Ria-Vung Tau ($80), according to a recent report by real estate service firm Jones Lang LaSalle (JLL).

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Southern Vietnam sees surge in industrial land prices

The cost of ready-built factories was more stable than land at $3.5-5 per square meter per month due to short-term contracts of between 3-5 years and the impacts of the Covid-19 pandemic, the report says. Even though businesses were affected by the pandemic, market studies showed industrial real estate in Vietnam still attracting many enterprises and investors.
In the second quarter, the south of Vietnam had registered a total leasable land area of 25,045 hectares. Some of the remaining industrial real estate in HCMC was not available for leasing since compensation payments related to site clearance had not been completed.
Because the pandemic is still happening locally and globally, leases in the second quarter were mainly from domestic investors or deals reached before the outbreak. The average occupancy rate of the southern industrial parks reached 84 percent by the end of the second quarter.


Hiep Phuoc Industrial Park, Nha Be District, Ho Chi Minh City with a total area of 1.686 ha
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