Industrial land lease prices in Vietnam’s northern region posted a year-on-year increase of 33 per cent in 2023, the highest in the country, according to a report on Vietnam’s real estate market in 2023 from the Vietnam Association of Realtors (VARS).

The average price reached $135 per sq m per term. 

In the southern region, meanwhile, the average price was estimated at $188 per sq m, up 15 per cent compared to 2022.

As of the end of 2023, Vietnam had 414 industrial parks on a total area of 217,000 ha. Of these, 295 had been put into operation.

The report also showed that average occupancy at industrial parks was 70 per cent. The rate in key localities in the northern region reached 80 per cent, and 90 per cent in key localities in the southern region.