With many investment and support policies from the Government , along with improved infrastructure and strategic location in the global supply chain... in recent times, industrial real estate has continuously maintained its leading segment in the Vietnamese real estate market, attracting great attention from domestic and foreign investors.
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| Over the past time, industrial real estate has continuously maintained its leading segment in the Vietnamese real estate market (Photo: PV) |
Accordingly, since the beginning of the year, the country has had 10 more industrial park investment projects approved for investment, many large industrial parks have been started such as VSIP Lang Son, VSIP Ha Tinh ... Leading enterprises in the real estate sector, including enterprises that previously focused on developing the housing segment as well as some multi-industry corporations such as DIC Holdings, Phat Dat, Khang Dien, Ha Do ... have been planning to "acquire" land funds to develop industrial real estate.
Ms. Pham Thi Mien, Deputy Director of VARs IRE, said that the commercial real estate - office segment continues to record positive changes. New office buildings are invested in construction with high-quality space and facilities, meeting EDGE, LEED, WELL standards..., achieving an occupancy rate of over 60% in a short time of operation due to the need to expand scale, shift to high-quality office buildings of financial and technology enterprises, especially foreign enterprises.
The retail real estate market also recorded signs of "heating up" with both supply and demand growing along with the trend of developing new commercial center models, especially shopping - entertainment - culinary complexes in the form of commercial streets, notably Grand World (The Venice and K-Town), Center Point, Little Hong Kong... Investors and retail businesses are currently shifting to this segment due to the large and stable traffic, investors also continuously organize cultural events to attract customers, bringing in large revenue. Meanwhile, many townhouses on prime streets are still vacant because the asking rent is still at a high level, the premises are small, not suitable for the needs of businesses that can afford the rent.
The tourism and resort real estate segment showed more positive signs in the second quarter compared to the first quarter. However, there have not been many clear changes, although the supply and transaction volume recorded a sharp increase compared to the same period. Accordingly, in the first 6 months of 2024, the whole market recorded 3,114 new products for sale, more than double that of the first 6 months of 2023 but only equal to 27% of the same period in 2022. The consumption rate of new supply in the first 2 quarters of the year reached 58%, equivalent to 1,799 transactions.
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| The tourism and resort real estate segment has shown more positive signs (Photo: PV) |
Assessing M&A activities, VARs IRE's report pointed out that in the second quarter of 2024, the market recorded a trend of joint development of real estate projects between domestic enterprises. Notably, real estate "giants" with strong financial potential began to enter the M&A market, with the "race" to plan clean legal land funds; offer for sale, call for investment cooperation in commercial housing and social housing projects.
“The “buzz” achieved in the market in the first 6 months of 2024 is the crystallization of many strengths with the combined efforts of the Government, agencies, departments, branches and real estate businesses themselves. In the first half of 2024, the overall picture of the Vietnamese real estate market has more bright colors with clear recovery results in some segments and localities. Although the “strengths” are not strong enough to help the market “explode”, they will certainly be the premise for more impressive results in the second half of the year”, Ms. Pham Thi Mien, Deputy Director of VARs IRE concluded.
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