The rental price of industrial land in Ho Chi Minh City is far behind Hanoi

The rental price of industrial land in Ho Chi Minh City is far behind Hanoi

  

As of May, Cushman & Wakefield reported that Ho Chi Minh City had the highest industrial land rent in the country, nearly touching the 200 USD/m2/lease period.


Sharing at the Vietnam Industrial Real Estate Forum 2022 on May 24, Ms. Trang Bui - General Director of Cushman & Wakefield - said that Hanoi, Da Nang and Ho Chi Minh City are leading the industrial land rental prices in 3 areas. domain.


In which, Ho Chi Minh City currently has the highest price in the country, up to 198 USD/m2 for each rental period, far ahead of the average price of the southern key area (HCMC, Binh Duong, Dong Nai). , Long An, Ba Ria - Vung Tau) - 135 USD/m2/lease term.

Meanwhile, industrial land rental prices in Hanoi and Da Nang are only 140 and 80 USD/m2/lease period, respectively.


According to this expert, with the advantage of going ahead, industrial real estate in the South always leads in growth rate as well as attractiveness, concentrating a large number of businesses in traditional industries such as rubber and plastic. , textile.



This is also a priority destination for new manufacturers entering the Vietnamese market thanks to Ho Chi Minh City. So the occupancy rate of this area reaches 89%.

Industrial land rents in Ho Chi Minh City are currently the highest in the country, while focusing on labor-intensive industries. Photo: Quynh Danh.



However, she believes that the northern market is the first choice of manufacturers in the wave of moving away from China.

"With the outstandingly developed infrastructure system and especially the very good connection with China, the Northern key economic zones as an extension of production and an extension of the supply chain of other countries. factory,” she admits.



Data from Cushman & Wakefield shows that most of the industrial park projects in the 5 key northern provinces have been stably filled with an average rate of about 80%, the average rental price is 109 USD/m2/lease term . In which, high-tech industries account for a high proportion.



"However, focusing on developing only 1-2 key areas and being dominated by a few large tenants, typically Samsung, can lead to the risk of missing competitive opportunities for other businesses." Ms. Trang Bui analyzed.


Meanwhile, the Central region attracts the attention of international developers thanks to its large land bank, competitive land price (US$34/m2/lease term) and a dense seaport system. The total industrial supply of four key provinces and cities, namely Da Nang, Quang Nam, Quang Ngai, and Binh Dinh, reaches more than 7,500 hectares, and currently has an occupancy rate of about 67%.

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