Industrial real estate is considered a bright spot in Vietnam’s property market in 2024, with the participation of many foreign investors and occupancy rates at industrial parks (IPs) continuing to head upwards.

Over the past year, many major global producers such as Samsung, LG, Foxconn, Hyosung and Nestle announced plans to expand and start many projects in different areas of the country.

Average occupancy at IPs in the north reached around 80%, according to CBRE Vietnam, a foreign real estate service company.

Meanwhile, the southern region posted a higher occupancy rate, at 89%.

The rental prices of IPs also increased last year. The average rental prices per term in the north and the south were estimated at $137 per sq m and $175 per sq m, up 4.2% and 1.4% year-on-year, respectively.