Despite the decline in global GDP growth forecasts, Vietnam is still receiving positive forecasts from domestic and international organizations. FDI inflows continued to be the bright spot while two important capital flows into real estate, namely bank credit and bonds were limited.
Real estate continued to rank second in the list of industries attracting total FDI of over US$3.5 billion, accounting for 18.7% of total registered investment capital. This number nearly doubled compared to the same period last year (nearly US$1.8 billion).
Industrial and logistics market in 5 key southern provinces including: Ho Chi Minh City, Dong Nai, Binh Duong, Long An, Ba Ria - Vung Tau
Industrial land supply increased significantly compared to last year, especially in Q1 and Q2 of 2022, mainly due to delayed projects from last year's pandemic. The total cumulative supply of the market reached 27,780 hectares, with an occupancy rate of 88%. The emergence of new supply at locations further away from HCMC (such as Bau Bang, or VSIP III) has helped reduce the asking price of industrial land, the average rent in Q3 is US$148.4/sqm/lease term.
The market for ready-built factories and ready-built warehouses did not see a significant change in new supply, at 4,321,000 sqm and 4,702,000 sqm, respectively. In which, the factory absorption rate increased by 7% QoQ and 1% YoY, reaching 92%; by contrast, the warehouse absorption rate fell 1% QoQ and down 8% YoY, at 76%. The average asking price for factories is US$4.6/sqm/month and for warehouses is US$4.4/sqm/month.