The rental price for industrial land in Hanoi has surpassed 220 USD/m² (approximately 5.5 million VND), marking a 3.3% increase compared to the previous quarter.
Lease price ranging from 220 – 250 USD/m², most industrial parks fully occupied
Currently, industrial land in Hanoi is being rented for over 220 USD/m² per lease term. In areas like Me Linh, Long Bien, Soc Son, and Dong Anh, prices are even higher, exceeding 250 USD/m². Despite the 3.3% increase in Hanoi’s industrial real estate prices compared to the previous quarter, the rates remain competitive relative to other provinces in the Northern Key Economic Zone.
Bac Thang Long Industrial Park, Dong Anh District
The demand for industrial land in Hanoi and neighboring provinces remains high, as reflected by the high occupancy rates in most industrial parks. According to CBRE, in the first nine months of 2024, the total industrial real estate absorption in primary markets like Hanoi, Hai Phong, Bac Ninh, Hai Duong, and Hung Yen reached approximately 330 hectares, raising the average occupancy rate in these provinces to 80%. Major industrial parks in Hanoi, such as Bac Thang Long, Sai Dong, and Nam Thang Long, have reported occupancy rates of up to 86%.
Industrial land prices expected to rise 4-8%
According to real estate consultancy Cushman & Wakefield, the rental price for industrial land in Northern Key Economic Zone markets is increasing at an average annual rate of 5.7%. High demand has led to some projects in Bac Ninh and Hung Yen recording price hikes of up to 10% in just one quarter. CBRE Hanoi forecasts that industrial land rental prices in Hanoi and neighboring provinces will continue to rise by 4-8% over the next three years. Meanwhile, rental prices for ready-built factories may experience a modest increase of 1-4% annually.
The development of key sectors such as electronics, semiconductors, and automotive parts… — industries that attract significant FDI inflows—continues to fuel the industrial real estate market in Northern Vietnam. According to Cushman & Wakefield Vietnam, the total industrial value added in the first nine months of 2024 grew by 8.3%, with the manufacturing and processing sector achieving a 9.8% increase. This growth is expected to create positive signals for the Northern market, which boasts strategic advantages in location, advanced infrastructure, and stable market sentiment.
Major semiconductor corporations such as Samsung and Amkor have entered Vietnam’s market with substantial investment projects to build factories and expand production.
The Trend of Multi-Story Warehouses to Optimize Land Use
To meet rising rental demand and optimize land resources, the trend of building multi-story warehouses and factories is gaining popularity in Northern Vietnam, especially in areas with convenient connectivity to Hanoi and competitive industrial land rental prices. According to CBRE, numerous multi-story warehouse projects are either in the planning stages or already under development.
Constructing multi-story facilities helps reduce the cost per square meter of built floor area, significantly saving land costs for investors. “This solution allows investors to optimize the land-use ratio, increase supply in areas with convenient connectivity, and offer the market more diverse products,” said Ms. Nguyen Hoai An, Senior Director of CBRE Hanoi.
Nguồn thông tin: VNExpress
Xem thêm: List of industrial parks in Hanoi updated in 2024
