Whereas this is ‘good news’ for industrial real estate developers, according to Vietnamnet, it will mean increased costs for leasees. Vietnamnet cites data from CBRE which shows occupancy rates at 80.2 percent, with an average lease price in the primary market of US$131 per square meter. It’s not clear what report the publication is referring to but note that CBRE’s Ho Chi Minh City Figures Q2 2023 report has average rental rates of US$127 in the north and US$187 in the south, for an average of US$157. As for the 10 percent figure, that comes from a quote in the article from An Hoai Nguyen from CBRE Vietnam.
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