While many realty segments have suffered losses from the pandemic, industrial realty business have kept growing in Vietnam. During the pandemic, the industrial realty sector kept growing in Vietnam.— Photo congnghiepdanang In the first quarter, industrial park rental rates increased in both the north and the south by 12 per cent and 6.5 per cent respectively over the same period last year, according to the first quarter report by real estate consultant Jones Lang LaSalle (JLL) Vietnam. The report stated that northern industrial realty attracted some large corporations which extended their production from China due to the close location and well-developed infrastructure. The average land prices in such areas reached US$99 per sq.m per lease term of 50 years, said the report, adding the demand for land rent in the first quarter still remained high as successful transactions were done before the pandemic. In the south, JLL recorded an increase of industrial rent demand and also saw higher rental prices. The average rental prices in the first quarter reached $101 per sq.m per lease term. According to realty experts, a number of multinational companies have been planning to expand their operations in Vietnam to reduce the pressure of new tariff barriers on goods… Read full this story
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