The supply of industrial real estate in both the northern and southern regions remained stable in the first six months of the year, with 14,500 ha and 27,700 ha, respectively, according to the Economic, Financial and Real Estate Research Institute of Dat Xanh Services.

The market has witnessed the development of many new projects across the country with ten projects building industrial parks (IPs) being licensed so far this year.

Meanwhile, construction of many major projects was kicked off such as the Vietnam-Singapore Industrial Parks (VSIP) in central Ha Tinh province and northern Lang Son province in June.

Demand for industrial real estate also kept increasing due to production recovery in the second quarter of the year. The average occupancy rate of IPs in the northern and the southern regions was 83% and 92%, respectively.

Rental prices of industrial real estate were also on an upward trend following increasing demand and limited supply. The average rental price in the northern region surged 2% year-on-year to reach $130 sq m while the southern region witnessed a year-on-year increase of 7% to reach $190 per sq m.