Industrial park occupancy rate in Vietnam reaches high

The occupancy rate in industrial parks in Vietnam reached a high level, said the global leader in commercial real estate services and investments CBRE.
A corner of Tan Thuan Industrial Park in HCMC's District 7

A corner of Tan Thuan Industrial Park in HCMC's District 7

CBRE has just released the Vietnam real estate market report for the third quarter of 2023.

According to the report of CBRE, the occupancy rates of land in the key southern economic region’s industrial parks reached 81.9 percent.

The absorption rate of industrial land in the third quarter reached more than 190 hectares, an increase of 5.9 percent compared to the previous quarter; Overall, in the first nine months of 2023, it has reached more than 770 hectares, 20 percent higher than 2022.

The average rent for industrial land in the region’s first-grade market reached US$189 per square meter for the remaining term, continuing to increase slightly by 1 percent against the previous quarter and 13 percent higher over the same period last year.

The average occupancy rate of the industrial parks market in the Northern region’s first-grade market reached 80.2 percent, down 2.4 percent compared to the second quarter of 2023 and up 0.4 percent year on year.

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